Debt Consolidation Loans for Low Credit

Empower yourself with a debt consolidation loan for low credit now. Use Debt Refinance to consolidate your debt into one easy, simple, monthly payment. You’ll enjoy lower interest rates and a longer repayment period, freeing up finance in your budget to pay off debt faster or have financial peace of mind without those pesky admin fees. Plus, you’ll get access to our team of consolidation loan and personal finance who will be there for you every step of the way.

Consolidation loans are personal loans meant to be used to pay off all your debt at once. They provide security against late payments and defaults. Since they’re personal loans, they offer much lower interest rates than revolving and unsecured credit. This is because there is a lower risk of your default.

What If I Have Low Credit?

No problem! Consolidation loans are there to build credit by helping you pay off your loans on time and in full. Once you’ve paid off your loans, you’ll see your credit score jump up. This is because you’ll lower your credit utilisation rate (how much credit you use compared to what you have available), an integral factor in calculating your credit score. You’ll also lower your DTI (debt-to-income ratio), which will empower you to take out finance should you like to in the future.

Having a low credit score may affect your loan terms– you may not enjoy as low an interest rate as someone with an 800 credit score. This is because a low credit score signifies that you are a high risk and likely to default. High interest rates act as a sort of insurance premium for lenders in the case of your default.

No matter your credit score, we encourage you to apply for finance consolidation today! Get extra room in your budget, pay off your loan faster, and enjoy the peace of mind that comes with being debt-free. Contact Debt Refinance today and use the ultimate reset button.