✦ — Bad Credit Accepted
Debt Consolidation Loans
for Bad Credit —
Stop juggling multiple payments. Combine all your debts into one low monthly payment — even with bad credit. Apply free in 2 minutes and get funded as fast as today.
Check My Consolidation Rate — Free →
✓ 500+ credit score OK · ✓ No hard credit pull · ✓ $1,000 – $50,000 · ✓ Same-day funding
Last updated: · Reviewed by Money247 Editorial Team
Drowning in multiple debt payments every month? A debt consolidation loan combines all your debts into one single monthly payment at a lower interest rate. In , bad credit is not a barrier. Many lenders in our network accept scores as low as 500 and look at your income and ability to repay rather than your credit score alone. This page shows you exactly how to consolidate your debt even with bad credit and get approved today.
What Debts Can You Consolidate?
A debt consolidation loan can pay off most types of unsecured debt in one shot.
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Credit Cards
The most common debt to consolidate. Replace high-rate card balances with one lower-rate loan.
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Medical Bills
Consolidate multiple hospital and medical bills into one manageable monthly payment.
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Personal Loans
Combine existing high-rate personal loans into one new loan with better terms.
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Private Student Loans
Private student loan debt can be consolidated into a personal loan for simpler repayment.
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Store Credit Cards
Store cards often carry 25–30% APR. Consolidating can cut your rate significantly.
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Payday Loans
Break free from the payday loan cycle by consolidating into a longer-term lower-rate loan.
Best Debt Consolidation Lenders for Bad Credit —
Ranked by bad credit approval rate, interest rate, and funding speed.
⭐ #1 Best for Bad Credit Consolidation — Money247 Top Pick
QuickLoan Consolidation Network
Best Overall
500+Min Score
$50KMax Loan
Same DayFunding
500+ credit score accepted
Consolidate up to $50,000
No hard credit pull to check rate
300+ lenders compete for you
Same-day funding available
Check My Consolidation Rate — Free →
BadCredit Consolidation Direct
Low Score OK
NoneMin Score
$15KMax Loan
24 HrsFunding
No minimum credit score
Income-based approval
Consolidate credit card debt
Fast 60-second decision
Consolidate With Any Credit Score →
OnePayment Loans
Largest Amounts
550+Min Score
$50KMax Loan
Next DayFunding
Consolidate up to $50,000
2–7 year repayment terms
No prepayment penalty
Co-applicant accepted
Consolidate All My Debt Now →
CreditBuilder Consolidation
Builds Credit
520+Min Score
$25KMax Loan
Next DayFunding
Reports to all 3 bureaus
Rebuilds credit while paying off debt
Flexible repayment options
Rate discount for autopay
Consolidate & Build My Credit →
EmergencyFunds 247
Most Popular
500+Min Score
$50KMax Loan
Same DayFunding
Most popular for debt consolidation
Free prequalification
Joint applications accepted
All debt types covered
Check My Consolidation Options →
Debt Consolidation vs Other Options
See how debt consolidation compares to other ways to manage debt.
| Option | Bad Credit | Monthly Payment | Rate | Best For |
|---|
| Consolidation Loan | ✓ Yes | One fixed payment | 7–36% APR | Most people |
| Balance Transfer Card | ✗ Good credit only | One payment | 0% intro then 20%+ | Good credit only |
| Debt Management Plan | ✓ Yes | One payment | Reduced rates | Credit counseling |
| Debt Settlement | ✓ Yes | Lump sum | No interest | Severe delinquency |
| Minimum Card Payments | ✓ Yes | Multiple payments | 20–30%+ APR | Nobody — most expensive |
How to Get a Debt Consolidation Loan With Bad Credit
Follow these 4 steps to consolidate your debt today.
Add Up All Your Debts
List every debt you want to consolidate. Add up the total balance. This is the loan amount you need to request. Knowing this number before you apply speeds up the process significantly.
Apply Free at Money247.com — 2 Minutes
Complete the short application from your phone. Enter your total debt amount. Uses only a soft credit inquiry — your credit score is completely unaffected at this stage.
Compare Consolidation Loan Offers
Review offers from multiple lenders side by side. Compare the APR, monthly payment, and total repayment amount. Choose the offer that gives you the lowest rate and most manageable monthly payment.
Pay Off All Your Debts in One Shot
Once funded, use the loan to pay off all your existing debts immediately. From that point on you have one single monthly payment — simpler, lower, and more manageable than juggling multiple bills.
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Check Your Credit Report First
Errors on credit reports are very common. A quick dispute can raise your score 20–50 points in 30 days and unlock better consolidation loan rates.
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Add a Co-Applicant
Applying with someone with better credit dramatically improves your approval odds and can lower your interest rate significantly.
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Only Consolidate What You Need
Focus on your highest-rate debts first. Start with the debts charging you the most interest to maximize savings.
✂️
Cut Up the Cards After
Once you consolidate your credit card debt do not run the balances back up. Avoid accumulating new debt after consolidating.
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Set Up Autopay
Many lenders offer a rate discount of 0.25%–0.5% for automatic payments. It also ensures you never miss a payment which helps rebuild your credit.
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Apply to Multiple Lenders
Money247.com sends one application to 300+ lenders at once. Comparing multiple offers ensures you get the lowest possible rate available to you.
⚠️ When Debt Consolidation May Not Be the Best Option
- If your new consolidation loan rate is higher than your current average debt rate — it will cost you more not less
- If you plan to run up the credit card balances again after paying them off — consolidation will make your situation worse
- If the total repayment amount is significantly higher than what you currently owe — reconsider the loan terms
- Any lender that charges an upfront fee before funding your consolidation loan — always a scam
Frequently Asked Questions
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Can I get a debt consolidation loan with bad credit?+
Yes. Many lenders offer debt consolidation loans for bad credit borrowers with scores as low as 500. They look at your income, employment history, and total debt load — not just your credit score. Using Money247.com connects you with 300+ lenders simultaneously including those who specialize in bad credit consolidation loans.
What credit score do I need to consolidate debt?+
Most bad credit debt consolidation lenders in our network accept scores as low as 500. Some lenders have no minimum credit score at all and approve based on income and your ability to afford the monthly payment. The lower your score, the higher your interest rate may be — but consolidation can still save you money and simplify your finances.
Will debt consolidation hurt my credit score?+
Checking your rate at Money247.com uses only a soft credit inquiry which does NOT affect your credit score. In the long run, debt consolidation often improves your credit score by reducing your overall credit utilization ratio and helping you make consistent on-time payments to a single lender.
How much can I borrow to consolidate debt?+
Debt consolidation loans through Money247.com range from $1,000 to $50,000. Most bad credit borrowers qualify for $1,000 to $15,000. Borrowers with scores above 580 and steady income may qualify for up to $50,000. The amount depends on your credit score, income, and existing debt load.
How fast can I get a debt consolidation loan?+
Online debt consolidation loans can be approved the same day and funded within 24 hours. If you apply and sign your loan agreement before 2 PM on a weekday, many lenders can deposit funds directly into your bank account the same day.
Is debt consolidation a good idea with bad credit?+
Yes in most cases. Even if your consolidation loan rate is not dramatically lower, combining multiple payments into one reduces your chance of missing a payment, simplifies your finances, and helps you build a positive payment history. Over time this rebuilds your credit score.
What debts can I consolidate?+
You can consolidate almost any unsecured debt including credit card balances, medical bills, personal loans, payday loans, private student loans, and store credit cards. Secured debts like mortgages and auto loans cannot typically be consolidated into a personal loan but can sometimes be refinanced separately.
Will applying affect my credit score?+
Checking your rate at Money247.com uses only a soft credit inquiry which does NOT affect your credit score at all. A hard credit inquiry only occurs when you formally accept a specific loan offer from a lender. You can check your consolidation loan options completely free with zero credit impact.
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Disclaimer: This content is for informational purposes only and does not constitute financial advice. Loan availability and terms vary by lender and individual circumstances. Money247.com is a loan matching service, not a direct lender.
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