Need Help Finding a Loan?
Find out if you qualify and compare options without a credit check!

Loan Amount:
$
Purpose:
All finance quotes are provided free and without obligation. We respect your privacy.
Knowledgebase
Credit Utilization:
The amount of credit you are using compared to the amount of credit available to you, typically expressed as a percentage.
Finance-Australia.net :: Articles

Where To Get A Debt Consolidation Loan When You Have Bad Credit

Where To Get A Debt Consolidation Loan When You Have Bad Credit

Where To Get A Debt Consolidation Loan When You Have Bad Credit
If you find yourself struggling under the weight of multiple loans, credit cards and other personal debts it can be hard to know where to turn for help. Your lenders may simply be unwilling or unable to give you any wriggle-room. If you find yourself in this situation, then it might be worth exploring the option of online debt consolidation loans

A simple concept

The concept that underpins consolidation is actually quite simple.
The issuing company provides the applicant with a new loan, albeit one that is large enough to pay off all outstanding debts. In return, the individual is left with conditions that should be easier to keep up with both in the short and long term.
For example, the new interest rate and monthly dues should be lower than what is currently being dealt with. What this means is that you should have more money left in your bank account at the end of each month to pay for essential items such as food and fuel.

Debt management

Debt Stressed?
Image for Debt Stressed?If you're struggling to pay your debts and covering living expenses, we're here to help. Through our national panel of Debt Management specialists, we can help customers with $10k or more in debt by consolidating your existing loans, stopping Debt collectors from contacting you and re-negotiating repayments on your terms!
Some debt consolidators also offer a debt management service, usually starting with a free debt management plan.
A debt management plan is an excellent tool - not just for helping you get oiut of debt, but for planning a path that will help avoid the pitfalls of falling into the debt trap again.

How to choose

The key is to look for a consolidator who offers a deal which is attractive and not as demanding as what is currently held.
Thanks to the internet, finding a reliable and established consolidator of loans is no longer a complicated task. There are a number of approaches that can be taken online to locate a suitable service.
Apart from randomly using a search engine, you can also look for tips and suggestions through specialist blogs and forums.
If planning to avail yourself of any online financial service, it is important to carry out some research on who you're dealing with if you have not dealt with them before. Never give out your personal information over the internet, especially your banking details, unless you are sure that the recipient is an authentic business and not a phishing scam.
You can check with the Better Business Bureau as to whether the company you are thinking of using is the real deal.

A real solution

Online debt consolidation loans can be a solution to a pressing financial crisis.
What's more, the entire process of removing present debts and replacing them with a single easier to manage loan can take place very quickly.
What is important is to ensure that this is the right step to take and that the new lender is genuine and helpful. To help alleviate any concerns that you may have, send off an email inquiry to the business in question and assess the response that you are given.

Published: Sunday, 1st Aug 2021
Author: 263


Finance Articles

How Your Credit Rating Impacts Your Loan Options: What You Need to Know How Your Credit Rating Impacts Your Loan Options: What You Need to Know
A credit rating is essentially a numerical representation of your financial trustworthiness. It's like a report card for your creditworthiness, where higher scores indicate better financial habits. Lenders and financial institutions scrutinize this score when you apply for credit, serving as a primary factor in approving or denying loan applications. - read more
The Great Debate: Pros and Cons of Refinancing Your Home Loan The Great Debate: Pros and Cons of Refinancing Your Home Loan
In recent years, refinancing has emerged as a popular financial strategy for many Australian homeowners. With the housing market's dynamic nature and fluctuating interest rates, more people are considering the benefits of refinancing their home loans. This trend is not surprising, as refinancing can potentially reduce monthly payments, secure lower interest rates, and assist with debt consolidation. - read more
Maximizing Your Borrowing Power: Strategies for Home Loan Comparison Maximizing Your Borrowing Power: Strategies for Home Loan Comparison
When you're on the journey to owning your dream home, securing the right home loan is as critical as choosing the perfect location. The benefits of using online home loan calculators can't be overstated, as they wield the power to illuminate the murky depths of mortgage rates, terms, and payments with surprising precision. - read more
The Ultimate Car Loan Checklist for First-Time Borrowers in Australia The Ultimate Car Loan Checklist for First-Time Borrowers in Australia
Welcome to the world of car ownership! If you're a first-time borrower in Australia, you're likely to feel a mix of excitement and apprehension. Acquiring a car loan is a significant financial responsibility, and navigating through the options can be daunting. This introductory guide is designed to set you on the right path to making a well-informed decision. - read more
How Your Credit Rating Impacts Your Loan Options: What You Need to Know How Your Credit Rating Impacts Your Loan Options: What You Need to Know
A credit rating is essentially a numerical representation of your financial trustworthiness. It's like a report card for your creditworthiness, where higher scores indicate better financial habits. Lenders and financial institutions scrutinize this score when you apply for credit, serving as a primary factor in approving or denying loan applications. - read more
An Insider's Guide to Enhancing Your Credit Profile for Any Loan An Insider's Guide to Enhancing Your Credit Profile for Any Loan
Having a robust credit profile is one of the most critical factors for financial health, especially when seeking loans in Australia. Whether you're eyeing a new car, dreaming of a home or simply want to secure a personal loan for unexpected expenses, your credit score often dictates the outcome. Not only does it influence a lender's decision to offer you finance, but it also affects the interest rates you might be charged. - read more
Finance News

Auditor Deregistered After Brite Advisers Collapse Auditor Deregistered After Brite Advisers Collapse
30 Jun 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has deregistered auditor David Makowa, previously of DM Advisory Services, due to his role in the downfall of financial advice firm Brite Advisers. This decision follows Makowa's acceptance of a court-enforceable undertaking in which he agreed to surrender his auditor registration permanently, pledging never to re-apply. - read more
US Involvement in Israel-Iran Conflict Sparks Financial Market Concerns US Involvement in Israel-Iran Conflict Sparks Financial Market Concerns
23 Jun 2025: Paige Estritori

The escalating likelihood of the United States engaging militarily in the Israel-Iran conflict has raised alarm among investors, potentially leading to significant market volatility. This concern was highlighted by the global financial advisory firm, deVere Group, as tensions heighten in the Middle East. - read more
Global Markets Brace for Oil Price Surge Following US Strike on Iran Global Markets Brace for Oil Price Surge Following US Strike on Iran
23 Jun 2025: Paige Estritori

The recent US military attack on Iranian nuclear facilities has raised expectations of a significant oil price spike as global markets prepare to resume trading. Announced by former President Donald Trump, the attack marks an increased US involvement in the Middle East, which analysts believe could lead to heightened volatility across financial markets. - read more