Is it difficult to qualify for debt consolidation loan?

It truly is.

In some cases (if you actually need the money), you will need collateral of some kind.

Your home equity could be used.

Debt consolidation has a few negatives.

One is that once you make this new loan, about 90% of the people continue to run up debt and get into even more trouble. Make sure that is not the case with you.

Call your small banks or credit unions (big banks are not lending as much).

Make an appointment to see if you qualify.

Do not do this onlline (please). There are so many scams out there it will make your head spin.

You will regret it more than anything else you have done in your life.

Is this credit card debt?

There is an agency (non-profit), that is there to help you at no cost.

National Foundation for Credit Councelling - NFCC.org

There is no cost for them to help you.

If they set you up on the DMP - the cost is only about $25 a month - but only if you can afford it.

Reviews call them angels from above.

Stay away from debt negotiation, settlement, consolidation companies that advertise on the web or on tv.

They are there to make thousands of you.

Most people end up with their credit destroyed even further and being sued.

Reviews state that they wish they would have just paid the thousands to the credit companies instead of the company..

The answer is short and not so sweet. You will not get thousands of dollars in an unsecured consolidation loan if your credit is shot from all that debt.

What you need to do is go get a second or even third part time job and put every cent of it toward the debt. Sure it is not a good thing to have to think about but your good time was running up the debt.

Stay far away from anyone who will spam your query offering you thousands of dollars.