A debt consolidation loan for bad credit is a personal loan that you use to roll (or consolidate) many debts into one. These are typically unsecured loans.CNBC Select compared debt consolidation loans for borrowers with less-than-perfect credit based on score requirements, fees and interest rates. Secured loans require collateral, are typically easier to qualify for and could be a good choice if you have bad credit. We offer low rates on personal loans, student loans, and lines of credit. Learn more about lending at Cal Coast today. Collateral loans can be secured with a number of items, including a home, car, savings account, art, or other assets. CU SoCal explains what you can use. Minimum credit score: 580. The law protects you from abusive, unfair, or deceptive debt collection practices.