The reason we assist individuals with bad credit get debt consolidating loans

For those who have an undesirable credit rating, it could feel just like the economic globe is closed for your requirements. Nonetheless, having a financial obligation consolidation reduction loan, you can begin to settle creditors which makes steps that are positive eventually enhancing your rating.

You the best deal possible whether you have bad credit or not, we’ll strive to find. Fundamentally, we should back help you get along with your financial situation.

Why we assist individuals with bad credit get debt consolidating loans

When you have an undesirable credit rating, it may feel the economic globe is closed for your requirements. But, by having a financial obligation consolidation loan, you could start to settle creditors which makes good actions towards eventually enhancing your rating.

You the best deal possible whether you have bad credit or not, we’ll strive to find. Fundamentally, you want to back help you get together with your financial situation.

Debt consolidation reduction loans for bad credit FAQs

Can a debt consolidating loan help my credit rating?

Taking right out debt consolidation reduction can finally be considered a good method to enhance your credit history. Nonetheless, your ranking will often initially aggravate as you’re taking out fully a brand new personal credit line. Sooner or later however, your credit rating should enhance while you make regular re re payments on time. Moreover, as the credit utilization ratio decreases additionally the true quantity of creditors shrinks, it's also wise to start to see improvements in your credit score.

If you would like get more information information, we’ve written a guide that is useful the situation – how can debt consolidating affect fico scores.

Am I able to make an application for a debt consolidation reduction loan without any credit check?

Understandably, for those who have a history of dismal credit, you will get a little stressed about making a software. It’s worth noting that when you submit an application for debt consolidation reduction, your credit rating will sooner or later be checked. Still – even although you have actually an extremely credit that is bad – all ratings are believed.

Even though you cannot secure that loan with no credit check, having a poor history – in itself – might not cause the application to fail. In reality, you've got nothing to readily lose through the use of for a financial obligation consolidation reduction loan.

Exactly how much does a debt consolidating loan price?

We’re a broker and so the cost of that loan is based on your provider. But, for you– we’ll be clear about the costs involved because we want to ensure you’re getting a fair deal – and that consolidation is the best option.

What exactly is a bad credit rating?

Although life will be easier if this is a straightforward concern, it unfortunately is not. As there's no universal score system in the UK, it is just a little tough to really respond to exactly just exactly what a negative credit history is really. Both use different criteria to assess a person’s history for example, credit agencies Experian and Equifax.

When it comes to the previous, the firm details credit ratings away from 999. Such a thing between 0 and 720 is typically viewed as being ‘poor’ or poor’ that are‘very. Equifax, on the other side hand, categorizes ratings away from 700 and certainly will detail reviews under 379 to be bad or reduced.

Consequently, to evaluate whether you have got a poor credit rating, you really need to contact one of these brilliant organisations to see exactly what figure you'll get. If you belong to one of several above groups, nonetheless, then this quantity may stop you from acquiring specific financial loans or favourable interest levels.

What exactly is APR?

APR appears for apr. It will be the official term utilized to assist you comprehend the rate of interest together with ultimate cost of borrowing. All loan providers must reveal their APR before providing a monetary item. The lenders on our panel offer loans between 12 and 120 months, with rates from 4.4% APR to 49.9% APR in our case.

Whenever am I going to need to make my repayments?

The facts of one's repayments are available in the insurance policy papers given by the consolidation loan company. In the event that you can’t find these, contact the organization.

Whenever will the loan is got by me?

You have access to the money you require within a day. But, the precise timescales rely on your own consolidation loan company.

Just how can i personally use a financial obligation consolidation loan?

As soon as you've got the cash you require, you employ the funds to shut records together with your creditors one after the other. We’ve covered this much more information in our guide ‘How to combine debt’.

For further details on exactly how we make use of your private information, please reference our Privacy declaration.


The Financial Ombudsman provider (FOS) is a company for arbitrating on unresolved complaints between regulated businesses and their consumers.

“Consolidation Express work as a brokerage processing the information and knowledge you provide to us and pass this concerning to the restricted set of alternative party loan providers and agents.

We try not to charge a borrowers cost for the employment of our brokerage solutions, but we do accept payment from loan providers ( or other agents) whenever borrowers indication into a credit contract after an introduction through the Consolidation Express internet site.

Phone calls from UK land-lines are often free, nevertheless costs differ from cell phones so please consult your network provider. Phone Calls will undoubtedly be recorded for training and monitoring purposes.

As operator of the internet site, Consolidation Express just isn't an agent or agent of customers or any loan providers and as a consequence will not endorse the ongoing services provided by particular loan providers.

The guidance and/or advice contained inside the web site is susceptible to British regulatory regime and it is consequently primarily directed at clients in britain. To learn more about how exactly we handle important computer data see our online privacy policy (for further information regarding Consolidation Express see our stipulations).”