It's financially prudent to resolve that you apply for a loan when you've bad credit score, only if there's no better option available, like debt consolidation.
Smart solution for anybody in debts, is to seek help from debt consolidation services' people, and get debt relief, before it's too late.
Doing all necessary steps in debt consolidation process, will help you prevent defaulting on loans, and harming your credit score. Bad credit loans are not only hard to secure, because of the current credit squeeze, but also carry a much higher interest rate than standard, or even debt consolidation loans.
It's wise to spend a few hundreds dollars for professional advice of debt mediators, before taking on a burden of a loan that's going to be difficult to repay on time.
