Consolidating debt bad credit

30-Jun-2017 12:05

Benefit If you are a homeowner and have equity in your property you may want to consider a home equity loan or home equity line of credit to consolidate your debt.Interest paid on a home equity loan or line of credit may be tax deductible. A bad credit history can follow you for years, making it difficult for you to borrow money when you need it.Peer-to-peer lenders will let you check on rates without it impacting your credit score.That's a good way to check on an interest rate amount.The time to buy is now, but you can still reduce your debt if you don’t currently own a home.Here are your options: A personal loan could help you consolidate your debt into one low monthly payment and save.

Some people consider credit card debt bad and mortgage or student loan debt good.

Borrowing money to pay the bills can make sense in that you're staying current on your financial obligations.

That will keep your credit history from getting worse.

Now, you can pay off your credit cards and other personal loans with just one low monthly payment that could also save you interest, as well.

Find out about our Debt Consolidation Loans and how to manage your money better. If you’re in trouble managing multiple bills and high rate debt, you can consolidate them into a single loan payable at a low rate.

Some people consider credit card debt bad and mortgage or student loan debt good.

Borrowing money to pay the bills can make sense in that you're staying current on your financial obligations.

That will keep your credit history from getting worse.

Now, you can pay off your credit cards and other personal loans with just one low monthly payment that could also save you interest, as well.

Find out about our Debt Consolidation Loans and how to manage your money better. If you’re in trouble managing multiple bills and high rate debt, you can consolidate them into a single loan payable at a low rate.

At that point, the delinquency stops affecting your credit. Your credit suffers tremendously in the meantime, and since you’re still legally obligated to pay the debt, a debt collector can pursue you until the statute of limitations runs out in the state where you live.