Representative example: borrow £600 for 8 months. 1st monthly repayment of £144.38, 6 monthly repayments of £192.50, last monthly repayment of £96.25. Total repayment £1,369.63. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74%. Our loans are available for 3 to 9 months depending on the loan amount — rates between 295.58% APR and a maximum APR of 1294%.
Representative example: borrow £600 for 8 months. 1st monthly repayment of £144.38, 6 monthly repayments of £192.50, last monthly repayment of £96.25. Total repayment £1,369.63. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74%. Our loans are available for 3 to 9 months depending on the loan amount — rates between 295.58% APR and a maximum APR of 1294%.
A debt consolidation loan takes all your multiple current debts like store cards, overdraft or short term loans, and puts them into one single loan. You then have a single repayment to one company instead of multiple payments to multiple companies. They can make life much easier all round.
In most cases, you will be able to borrow the money and pay off the debts at your own discretion.
Consolidate Your Credit Card Debts
If you have a lot of existing credit card debt, you can collate all existing payments and pay them off using a debt consolidation loan. This can be an effective to pay off all your debts and stop the interest racking up. Thereafter, you simply need to pay off your main consolidation loan on time and you will eventually be debt free.
Customers can apply to borrow up to £15,000 repaid over a maximum of 60 months (5 years). The amount you can borrow is based on your income, affordability and credit status. Typically, the higher your income, the lower your expenses and less debt you have outstanding will help you borrow the maximum amount.
Badger loans offers a completely online application so you can fill in your details and get a provisional quote on the screen in less than 5 minutes. We work with a range of debt consolidation lenders helping you find the best product.
To help speed up your application, list all your outstanding debts and the names of the companies that you are working with already. This will allow for a smoother process and once your details are approved, your loan can be funded as soon as possible.
If that sounds like you, you’re eligible to apply today!
Badger Loans works with a panel of up to 50 lenders in the UK. This helps you improve your chances of being approved for a short term loan and getting access to the funds you need faster. With each lender having different requirements, you can maximise your chances of approval through Badger Loans. Every lender on our panel has been reviewed and vetted to ensure that they are fully authorised, regulated and trustworthy. With no upfront fees, you can receive an almost instant decision in up to 5 minutes and if successful, can receive funds on the same day. Sometimes within a few hours. We will not pass on your information to any other companies without your permission.
Yes, you can apply for a debt consolidation loan for bad credit and this is very common. If the individual has fallen behind on payments for other financial products, their credit score will have suffered. If so, they are more likely to use a secured debt consolidation loan to get their loan successfully approved.
You will still need to have a regular income, be able to afford monthly repayments and be the owner of the property or vehicle to be eligible.
Repayments for your debt consolidation loan are typically made in monthly instalments, with the amount and duration agreed upfront before the loan is issued. Your repayment schedule will depend on how much you borrow and over what term, and it’s designed to be as clear and manageable as possible. Payments are usually taken automatically from your bank account on a set date each month. If you think you might struggle to keep up with a payment, it’s important to contact your lender as soon as possible to discuss your options. Staying on track with your repayments can also help improve your credit score over time.
To see if you could qualify, try our Affordability Calculator — it only takes 2 minutes and won’t affect your credit score.
Get your decision in minutes and, if approved, receive your funds within the hour. Applying won’t affect your credit score.
If you have multiple credit cards and personal loans open, using a debt consolidation loan can be one way to gather all your debts and pay them off more effectively.
If you have payments for credit cards and loans that are going into arrears, this can often incur added charges and late fees. Hence using a debt consolidation loan could help you limit these.
In addition, the rates offered for debt consolidation can be more reasonable than if you continued to use short term high cost credit.
A secured debt consolidation loan is a type of borrowing where you combine multiple debts into one loan, and the loan is “secured” against an asset you own — most commonly your home. Because the lender has security, you may be able to borrow larger amounts or access lower interest rates than with some unsecured loans (depending on your circumstances).
With a secured consolidation loan, you usually make one monthly repayment to the lender. Some lenders may pay your existing creditors directly as part of the process, while others may pay the funds to you so you can settle the debts yourself. If you fall behind on repayments, the lender can take steps to recover what they’re owed by claiming and selling the secured asset — which means your home or asset could be at risk of repossession.
An unsecured debt consolidation loan is a type of borrowing that lets you combine multiple debts into one loan without using an asset (such as your home or car) as security. Instead, the lender decides whether to approve you based on factors like your income, affordability checks, and your credit history/credit score.
You typically repay the loan in fixed monthly instalments over an agreed term. Because the loan isn’t secured against an asset, your home or car isn’t directly at risk of repossession if you miss payments. However, late or missed repayments can damage your credit record and may lead to extra charges, higher overall borrowing costs, or further action from the lender.
Once approved, you could receive the money from your debt consolidation loan in your bank account within 1 hour, though it typically takes 1-2 working days.
Our initial soft search won’t impact your credit score. A full credit check is only performed once you accept a loan offer.
Lenders typically check your income, essential outgoings, existing credit commitments and recent bank statement activity. They want to be sure the repayments are manageable without causing financial strain.
Loan amounts vary between lenders but many offer between £1,000 and £5,000 for applicants with poor credit. Higher amounts may be available if your income is stable and affordability is clearly demonstrated.
Yes. Being declined by one lender does not mean all lenders will reject you. Different lenders use different criteria and some specialise in helping people with poor credit or previous financial problems.
Provide accurate information, keep the loan amount realistic and make sure you can clearly afford the repayments. Checking your credit report for errors and clearing small overdue amounts can also improve approval odds.
Common requirements include: proof of identity (passport or driving licence), recent payslips or bank statements as proof of income, proof of address (e.g. utility bill), and UK bank account details. Missing or inconsistent information is the main reason for delays.
Yes, most lenders require you to be 18 or older and to be a UK resident. You may also need to provide proof of address and identification as part of meeting regulatory requirements.
No. Genuine, regulated debt consolidation loans must include a credit check. Be wary of lenders who advertise “no credit check” because these may be unregulated or predatory. The only exception to this is Open Banking which can sometimes be used in place of a credit check. Check with your lender or prospective lender if you’re concerned about being checked.
Your initial application through Badger Loans uses a soft search, which does not affect your credit score. If you continue with a lender and accept their loan agreement, they will run a hard search. Using a broker helps avoid multiple hard searches, which can damage your credit if you apply everywhere separately.
Not automatically. It doesn’t reduce the balance you owe but it can reduce your monthly repayments or the overall cost if the interest rate is lower than your existing debts.
It can be. If the consolidation loan has a lower APR than your current credit cards, overdrafts, or loans, you may pay less interest overall.
Common debts include credit cards, overdrafts, store cards, payday loans, and personal loans. Secured debts are usually excluded.
