I have very bad credit and no collateral, like a house or a car, what kind of debt consolidation loan is available for me?
Other than borrowing from friends or family, if you have very bad credit and no collateral I know of no legitimate financial entity anywhere that will make you a loan. This is an important point to stress for two reasons. If you have very bad credit and no collateral don’t bother spending a lot of time and effort trying to find a loan. I have been trying to find unsecured personal loans for clients with very bad credit for 10 years, only to find none. If anyone reading this knows of a legitimate loan I would be excited to hear about it. Based on my knowledge of financial institutions, their requirements and the default rate that would exists on such loans, I don’t believe that anyone who did endeavor to make such loans would stay in business long. With that said, the second point to keep in mind is not to expend any money to anyone telling you they can obtain an unsecured loan for anyone with very bad credit. I have seen ads where people are attempting to sell lists or in some way taki
