Bring your borrowing together
Bad Credit Debt Consolidation Loans
Looking to combine existing debts despite a poor credit history? Apply for an unsecured debt consolidation loan through Money Trumpet and let our partners assess your circumstances.
- One application for your debt consolidation needs
- Homeowners and non-homeowners can apply
- No property security required for this application
Money Trumpet is a credit broker, not a lender. Approval is subject to eligibility and affordability.
Can I consolidate debts with bad credit?
It may be possible, but a poor credit score can limit your options and make borrowing more expensive. Our partners consider your application; acceptance is not guaranteed. Your income, existing commitments and ability to afford repayments matter alongside your credit history.
This application is for an unsecured loan, so you do not need to own a home. Explore our bad credit loans page if you need borrowing for a different purpose.
If you are declined, avoid repeated applications in quick succession. Ask what information influenced the decision and check your credit file for errors before applying again. You can also speak to a debt adviser about handling your current repayments without taking on another loan.
How debt consolidation works
A new loan can repay existing balances, such as credit cards or personal loans, leaving one repayment for the debts you have cleared. You still owe the new loan and its interest.
Before applying, ask your current lenders for settlement figures and check for early repayment charges. Request only what you need. If an offer would not cover every balance, include the remaining payments in your budget.
Check the full cost before deciding
Compare the proposed APR, fees, loan term and total amount repayable with the cost of keeping your existing arrangements. A smaller monthly payment is not automatically a saving, particularly when repayments are spread over longer.
Make sure you can cover essentials as well as the new payment. Avoid building up fresh balances on cards you have cleared. If repayments already feel unmanageable, StepChange offers free debt advice and can explain alternatives to further borrowing.
Start your application
Choose your requested amount and term, then select “Debt consolidation” on the form. Have your address, income, employment and monthly spending details ready so you can give an accurate picture of your finances.
Money Trumpet does not carry out credit searches. Brokers or lenders receiving your application may carry out searches to assess it. Read any offer carefully before deciding whether to proceed.