Looking for a bad credit loan? Debt got you down? You're not alone. Consumer debt is at an alltime high. What's more, record numbers of consumersÑnearly 1.6 million in 2005Ñare filing for bankruptcy. Whether your debt dilemma is the result of an illness, unemployment, or simply overspending, it can seem overwhelming. In your effort to get solvent, be on the alert for advertisements that offer seemingly quick fixes. While the ads pitch the promise of debt relief, they rarely say relief may be spelled bankruptcy. And although bankruptcy is one option to deal with financial problems, it's generally considered the option of last resort. The reason: its longterm negative impact on your creditworthiness. A bankruptcy stays on your credit report for 10 years, and can hinder your ability to get credit, a job, insurance, or even a place to live.

The best way to find a bad credit loan is to compare deals. Only by comparing can you find the best terms and conditions most favorable to you.