Grace Enfield, Content Writer
The best secured debt consolidation loans for bad credit allow you to combine multiple debts into one lower-cost balance backed by collateral such as a car or savings account. Few major lenders offer secured debt consolidation loans for people with bad credit, but companies like Upgrade and Best Egg have them.
Best Secured Debt Consolidation Loans for Bad Credit
Loan providers say it’s difficult to pinpoint the exact terms that a secured debt consolidation loan for bad credit can offer since each applicant’s collateral and financial standing are different. In general, the collateral you provide reduces the risk for the lender, allowing them to offer you better terms and larger loan amounts than you’d qualify for with an unsecured loan.
There are some unsecured debt consolidation loans for bad credit worth considering, though. You can check out WalletHub’s editors’ picks for the best debt consolidation loans for bad credit to see the top options, then estimate your potential rates with our free pre-qualification tool.
2023 Best Debt Consolidation Loans for Bad CreditCompare Offers
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