A debt consolidation loan for bad credit may not be the best choice for everyone. If your credit prevents you from qualifying for a lower interest rate than you’re paying now, you may want to consider the following alternatives to debt consolidation.
1. Improve Your Credit First
Good credit comes with many perks, including the ability to qualify for better financing. If you’re not in a position to lock in an attractive interest rate on a debt consolidation loan right now, working to improve your credit might give you more options in the future.
When creating your credit improvement plan, remember: You may want to adjust your approach depending on whether you’re building credit from scratch or working to…
