With debt consolidation poor credit can become a thing of the past and enable you to get back on your feet financially. So the first question I guess you've got is if you qualify for debt consolidation. Poor credit isn't necessarily a barrier to you getting a loan to consolidate your debt as the companies understand your situation.
There does though have to be an explanation when you apply for a loan for debt consolidation. Poor credit requires you to explain how you came to be in arrears and, just as importantly, why things are going to be different now.
You see both the banks and the loan companies understand that from time to time anyone can fall on hard times. That's especially true with the current economic situation. What they really want to be certain of is if they help you fix the problem you will be able to pay the money back to them.
Before you apply for a loan for debt consolidation you need to sit down and figure what you're going to say to them. First up, make sure you only tell them the truth. Do you know one of the biggest reasons why people get turned down for debt consolidation? Poor credit isn't the answer! It's because they lied on their application form. It's that simple.
Think about it. If you were asked to help someone out would you trust them if they lied to you? Of course you wouldn't and neither will the loan companies. They are looking for people to lie to them on their applications and they are very good at spotting the tall tales. They have a lot of practice!
So what do you say to them? You tell them how you came to be in arrears with you finance and don't be embarrassed. They'd sooner help someone who's honest enough to admit a mistake than think you're hiding something.
If you're behind on your bills because of being put on short time at work; tell them. If you're looking for a part time job to help you get back on your feet again tell them. They aren't trying to judge you as a person; they simply want to know that they will get their money back.
So forget all the hassle of debt collection calls and get peace of mind, because with debt consolidation poor credit really can be a thing of the past.