For some reason you may be under the impression there is only one way to consolidate your debt - through a home-equity loan or an unsecured debt consolidation loan. And how can you get approved for a consolidation loan if you have bad credit or bad credit score? Find the answers to these questions below and you may be surprised.

Looking for a new consolidation loan to manage your debt may not be the best way for you to pay off your credit card bills. For one, the interest rate may be too high in today's stricter lending environment. This will eat into most of your potential savings dependent on how long the long-term is. If you have bad credit you can forget about it because a lender will deem you too risky to lend any more money since you may not have managed all your other bills well.

So does this mean you cannot consolidate your credit card debt? No it does not. CareOneCredit Counseling is one of the leading debt consolidation companies in America and they do not provide debt consolidation loans. What they do is consolidate all your bills into one low monthly payment, get your interest rates reduced, and get fees waived for you. This allows you to pay off all your debts without extending you more credit on unfavorable terms.

There are several other reputable debt management companies who can do the same for you. You just give them all the information about your creditors, make one payment to them, and they send it out to all your creditors. They will work with you regardless of your credit history. They don't even check your credit history. They already know you have bad credit since you are looking into an unsecured debt consolidation loan in the first place.

Debt consolidation works and it can save you money. You do not need to borrow more money to consolidate all your bills. You can do so even if you have bad credit. Now it's time to find out how much you can save and how soon you will be debt free.