Is consolidating debt bad
Many people choose to consolidate debt because of the high interest rates making it hard to pay down the principal balance.
Getting a consolidation loan with a high rate just doesn’t make much sense.
We asked the experts to find out the best types of loans for consolidating debt for people with poor credit.
RATE SEARCH: Get Cash Using Your Home Equity A debt consolidation loan is a personal loan that pays off multiple debts, such as credit cards and student loans.
With Interest rates starting as low as 6.99% and many lenders being willing to lend up to 90% of the equity in your home, our team of experienced and trusted mortgage agents specialize in helping people find solutions to help you get out of debt faster and free up extra cashflow for you in the process.
In fact your credit score doesn’t matter at all, everyone is accepted.
So, if you have bad credit what are your options for consolidating your debt? Transactions are not always black and white, relationships play a big part in a credit union.
If you have been with the same credit union for a long time the likelihood of getting approved for a debt consolidation loan with poor credit is increased.
You will be able to pay your high interest credit cards, payday loans, and other types of debt.
By paying off all of those high interest debts with a single low interest loan you can get out of debt much quicker and cheaper.