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Even though there still seems to be advertisements for bad credit debt consolidation loans, it seems that they are impossible to get. If they are impossible to get then do they really even exist anymore?
Just because the commercials are still airing and there are many websites out there advertising that they can give consolidation loans to people with bad credit, it does mean that it is something that someone can really turn to for some financial assistance.
These loans have largely disappeared as a result of the current economic turmoil; you might have heard of the credit crunch and this is a prime example. Banks and other lenders are simply not able to lend to anyone and everyone as they were doing only a few years ago. The state of the economy is actually largely due to irresponsible lending practices, which means that lenders are especially careful at the moment.
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