If you’re juggling several debts and finding it hard to keep track, a debt consolidation loan could make things simpler. Instead of managing lots of payments each month, you’d just have one – giving you more clarity and headspace. But if your credit score isn’t where you’d like it to be, you might wonder whether you’ll need a guarantor to get approved. Let’s break it down.
A debt consolidation loan lets you roll multiple debts into one new loan. That means:
One monthly repayment instead of many
A clearer view of what you owe
The chance to restructure your debt into a plan that feels more manageable
These loans can be either secured (linked to an asset like your home) or unsecured. It’s important to know that consolidating can sometimes extend the term of your debt – meaning you may repay more overall.
When you apply for credit, lenders check your credit report to see how reliable you are at repaying debt. If your score is strong, you’re more likely to be approved on your own.
If your credit history is weaker, some lenders may ask for a guarantor – usually a trusted friend or family member (not your partner or spouse) who agrees to step in if you can’t make payments.
Having a guarantor can make it easier to be approved, and sometimes even unlocks better rates. But not everyone wants that level of financial link with someone else. Why choose a no-guarantor loan? Plenty of people prefer to borrow without a guarantor, and lenders do offer this option. A few reasons why: - Financial independence: you’re solely responsible for your loan. - Less impact on others: your guarantor’s credit history won’t be affected. - More choice: some lenders don’t offer guarantor products, so you’ll see a wider range without one.
Yes – you can often get debt consolidation loans for bad credit UK no guarantor, as long as the lender thinks you can repay based on your income, outgoings, and credit history. That said, if you can get a better rate with a guarantor, it may be worth weighing up your options. And if you keep up with repayments, your credit score could improve over time – putting you in a stronger position to borrow without a guarantor in the future.
How to find a debt consolidation loan without a guarantor At ClearScore, it’s simple: 1. Tell us about yourself – use our free eligibility checker to share a few details. 2. See your chances – we’ll run a soft search (this won’t affect your credit score) to show you loans you’re more likely to be accepted for. 3. Compare your options – browse your personalised offers and choose the one that works best for you.
Things to keep in mind if you do use a guarantor
If you decide a guarantor loan is right for you, make sure: - You choose someone you trust – and who trusts you - You’re upfront with them about repayments - You stay on track, as it can help rebuild your credit score
Find your debt consolidation options today
Ready to explore your choices? Start with our loan eligibility checker to see your personalised debt consolidation options – whether you need a guarantor or not.