If you already have bad credit, debt consolidation can be a God-send. This is especially true when your credit score is so low, it can only go up. A debt consolidation loan for bad credit applicants is nearly impossible to get approved for at a decent interest rate, so going with a consolidation company is really your only option to get yourself out of debt. People are going to tell you that credit consolidation hurts your credit score more than it helps, but if your credit sucks already it is going to work magic over the long term. Also, using a debt consolidation company can help you get approved for credit cards in the future since the creditors will be able to see that you took your debt into your own hands to get it under control.
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