A ‘consolidation loan' can be any type of loan; it is not a particular class of loan itself. It just means to use a loan to pay off other debts, consolidating your payments into one. It could be an unsecured (also called personal) loan, a secured loan, or you could even borrow on your mortgage to pay off the other loans. Bad credit holders are also eligible for best unsecured loans online. People suffering from bad credit like CCJs, IVA, defaults, arrears and late payments can easily apply for unsecured loans. Now bad credit applicants can also fulfill their needs easily. A credit check is something you may fear if you had bad credit due to arrears. If you have any collateral, you might still be in a better position. But if you can't do that either, then you might be having a really tough time finding financial backing. Both these problems can be solved with a single loan- no credit check unsecured loans. In cases where the borrower has poor credit, a debt consolidation loan may be very difficult to obtain. An unsecured loan, if offered, may carry an interest rate that is actually higher than that of the original debt. Borrowers who have bad credit should seek out an usecured consolidation loan if at all possible. They should also fill out multiple loan applications, since several lenders may need to be contacted before a debt consolidation loan with a reasonable interest rate is obtained. If this article still doesn't answer your poor credit unsecured loans quest, then don't forget that you can conduct more searches on any of the major search engines like Yahoo to get specific poor credit unsecured loans information. So that's four methods of borrowing from £100 to £100,000 over a period of between 1 month and 40 years. That should be enough to get you started on deciding which loan could be right for you.