Can't take out a loan with a second person. Yes, you must own your car.You can't have any remaining payments on a car loan, and the title must be free and clear with no lien on it. With low, fixed personal loan rates and no application fee, AZFCU's Personal Loans are great for debt consolidation and all your personal loan needs. A poor credit score might disqualify you from consideration for a debt consolidation loan. Credit counseling is a free or lowcost option for borrowers who need help managing their debt. Make one-time and recurring payments with Online Bill Pay and spend less time paying bills. Tips to apply for a secured loan with bad credit. You may qualify with poor credit or no credit. Unless your balance is very low, credit cards let you make minimum payments for less than the full amount you owe.