Bad Credit Debt Consolidation

Multiple debts often lead to bad credit which makes it hard to get a debt consolidation loan. We have finance solutions for lower credit applicants.

Apply for bad Credit debt Consolidation


        
            OK
            96.777
        

I have read and accept the privacy policy.

 
No impact on your credit file

No impact on your credit score

bad credit debt consolidation loans:

At ALC we make it easy for our customers by taking their debts and rolling them into one with lower repayments and flexible terms. This is possible with bad credit debt consolidation loans.

Benefits of bad credit debt consolidation loans

There are two main benefits to bad credit debt consolidation loans. 

First benefit is that if you have bad credit, we have lenders who may be able to lend you the finance to combine your credit cards, payday loans and other high interest or high cost loans. You combine these into one loan, to save you time, lower your interest and fees, and only one repayment to remember each month. This saves time, and stress

The second benefit is that when you pay out your debts, they will show up as “paid” on your credit report, and, if you stick to the repayments, can help improve your credit score.

With a bad credit debt consolidation loan, you can  get back in control of your multiple high-interest or high fee finance. Even if you have a bad credit rating or a limited credit history we have lenders who may be able to help you reduce your interest rate and combine into one simple loan.

debt consolidation

Take Control With bad credit debt consolidation loans

Unfortunately, many Australians who are overwhelmed by their debts can find themselves missing monthly repayments. This difficult situation can lead to an individual building a bad credit rating. With debt spiralling out of control; you may need more money to pay it off, but your bad credit rating will make it harder to gain access to the finance you need from traditional banks.

This is where Australian Lending Centre comes in with bad credit debt consolidation loans. As a trusted private lender, we specialise in providing tailored finance solutions to suit you. A debt consolidation bad credit loan can provide you with the opportunity to take control of your finances.

How Do bad credit debt consolidation loans Work?

Bad credit debt consolidation loans works in the same way as regular debt consolidation loans. A bad credit debt consolidation loan allows people with bad credit and overwhelming debt to consolidate their finances into one easy loan. This means that instead of paying multiple credit repayments each month, an individual with bad credit can simply pay one monthly repayment, giving them more financial control and a heightened ability to pay back their debts.

Even better, bad credit debt consolidation loans may allow you to secure a lower interest rate than the combined rates of your current debts. This has the potential to save you hundreds of dollars each month!

If you need debt consolidation loans for bad credit, the friendly team at the Australian Lending Centre can give you the information you need to see if one of our bad credit debt consolidation loans is right for you. 

consolidate bad debt

Low Interest Rate debt consolidation bad credit loans

If you are paying off multiple debts, the chances are that a few of those debts will be from credit cards. Credit cards have higher interest rates than most other loans, and these rates become even higher when you miss a payment. In addition to this, each of your creditors may charge a fee for missing a payment

The Solution? ad credit debt consolidation loans can help you clear high interest debts, such as credit cards, and enable you to regain control of your finances. After clearing your debts with a bad credit debt consolidation loan, you could repay your new loan at a lower interest rate.

Rebuild your Credit Score With Debt Consolidation

Clearing multiple debts with a bad credit debt consolidation loan could help improve your credit rating for the future. Through bad credit debt consolidation loans, you could lower the risk of multiple defaults and could also reduce the number of unpaid debts to your name. Even better, when you consolidate bad credit and successfully pay off your loan could help rebuild your credit rating, giving you more financial freedom in the future.

You don’t need to struggle with multiple debts. Consolidate bad debt with Australian Lending Centre’s bad credit debt consolidation loans. Call us today.

Rebuilding your Credit Rating through Bad Credit Debt Consolidation

Most Common Bad Credit Debts To Consolidate

monthly pahement icon

Payday Loans

When an emergency hits and you have bad credit and no savings, it may seem like you have no other choice. But choosing payday loans can seriously impact affect your credit and finances, trapping you in a cycle of debt

Consolidate credit card debt

Credit Card Debt

Credit card debt is considered a bad debt because of the very high-interest rates and low minimum monthly payments. You can get caught up paying the minimum each month and not making a dent in your debt.

Tax Icon

Tax or Centrelink Debt

It's easy to get caught out with not paying enough tax through the year or being overpaid by Centrelink. After the past year, many people have found themselves owing money to Services Australia with no way to 

How to apply for A Bad Credit Debt Consolidation Loan

Here at Australian Lending Centre our goal is to take away the stress of bad credit debt consolidation loan applications. When you need to consolidate with bad credit, there are a few things we can do to qualify your for your loan. Here’s what you can do today:

apply online

1. Submit online form

Our form takes less than 30 seconds and won't impact your credit score.

loan consultant icon

2. We will call you

Once we get your enquiry, we will call to discuss your debt consolidation needs.

upload financial documents

3. Upload Documents

This is so we can process your bad credit debt consolidation application.

sign loan offer

4. Accept and sign Offer

Once your loan is approved, check and sign your loan offer.

Loan funds transferred

5. Receive funds fast

Funds can be transferred in as little as 48 -72 hours from loan approval.

*Our consultants work hard to smooth the path to bad credit debt consolidation loan approval. Loan approval depends upon your financial situation and lenders’ criteria.

Bad credit debt consolidation Loans FAQ's

There are a number of different forms of bad credit loans, including bad credit debt consolidation. This type of finance can not only combine all of your debts into one manageable one with lower rates, but also can improve your credit score over time.

Letting your debt build up can seem fine at first and many people manage by paying the minimum payment each month on credit cards. However, as time goes by your finances will become more and more stretched until something has to give. Making minimal repayments each month not only prolongs your debt and makes the total amount owed higher, it also harms your credit score.

Making minimal repayments, the total amount owed will always remain high, which means you have a high credit utilisation ratio. Experts suggest keeping your credit utilisation ratio lower than 30% can benefit your credit score, while a ratio of 31% or more can damage it. A credit utilisation ratio is the amount that you currently owe compared to the total loan amount. So, if your total loan amount is $1,000 and you still owe $300, then you would have a credit utilisation ratio of 30%. Put simply, credit utilisation ratio= loan amount still owed / total loan amount.

When you enter into a bad credit debt consolidation agreement, the sum of all of your current debts is paid off which reflects greatly on your credit file as your credit utilisation ratio will drop to 0%. So long as you keep up with your debt consolidation repayments then your credit score will only go up.

Not only can you benefit from an improved credit score with bad credit debt consolidation, but you can also simplify your life and save money too. Having just 1 repayment to make each month is a lot easier and less stressful than having to make multiple repayments to different creditors. As well as this, you will have a fixed repayment amount so you know exactly how much you need to pay each month and when. On top of this, bad credit debt consolidation can often provide you with a more favourable interest rate.

If you are spending beyond your means and allowing your debt to pile up it can be very easy to fall into late payments, defaults and even court judgements. All of which lead to a bad credit score. This is the point at which most people tend to bury their head in the sand and try to hide from mounting debt, constant phone calls and demanding letters from creditors, all wanting money that you just don’t have. For some people, this is overwhelming, stressful and can appear to be unsolvable, but with a bad credit debt consolidation loan and some serious budgeting, you can find the light at the end of the tunnel.

If you have bad credit then you have 3 main options to receive finance: