| If your credit rating has taken a beating, you may be | | | | Tax deductions are another advantage to home |
| struggling to pay the bills. Low credit scores are often | | | | equity loans. Mortgage interest and most interest for |
| accompanied by abruptly boosted interest rates, | | | | home equity loans or lines of credit is tax deductible, |
| which lead to higher expenses. Debt consolidation is a | | | | which will free up a little extra cash for paying those |
| great way to get a handle on your bills, even if you | | | | bills. |
| have bad credit. Are you wondering, "Where do I get | | | | Consolidate Student Loans with Bad Credit |
| bad credit loans to consolidate my bills?" Keep reading | | | | If you need to consolidate federal student loans, |
| to find the answer. | | | | you're in luck. The federal government regulates the |
| Consolidate Credit Cards with Bad Credit | | | | interest rates and consolidation rates. You will almost |
| If you have a lot of debt on high interest credit | | | | certainly qualify for a reasonable interest rate from |
| cards, you have three choices to consolidate your | | | | any student loan consolidator. Start with your current |
| bills: a credit card balance transfer, a home equity loan | | | | lender, but contact a few others to see if their |
| or home refinance, or a personal loan. A balance | | | | terms and discounts vary. Consolidating is more |
| transfer will get you the lowest rate, but only | | | | complicated with private loans, but it may still be |
| temporarily. A personal loan will have a rate that's | | | | possible. Contact your current lender for information, |
| lower than your current credit card interest rates for | | | | then search for lenders online. Ask a few for quotes |
| a longer term, but it may still be relatively high if you | | | | before accepting an offer. |
| have a very low credit score. Contact your bank to | | | | When it comes to student loans, you should avoid |
| ask about a personal loan. You may also receive | | | | combining them with other debts or paying them off |
| offers in the mail. Carefully research the lender | | | | with a home equity loan or cash-out refinance. This is |
| before agreeing to any offer you receive in the mail. | | | | because most federal student loans are forgiven at |
| If you own a home, a home refinance or home | | | | death or permanent disability and can be deferred |
| equity loan is your best option. Because the loan is | | | | while you're alive. You lose these benefits if you |
| secured by your home, the interest rate is lower | | | | swap them for a different kind of debt. |
| than you'd find with a credit card or personal loan. | | | | If you have bad credit, consolidating your debt and |
| The rate won't be the lowest possible, however, | | | | bills is a great way to improve your credit history. By |
| because those are reserved for borrowers with | | | | paying down debt, you also improve your financial |
| excellent credit. You may also find that the rate is | | | | future and your ability to qualify for better credit. No |
| lower if you have more equity in your home because | | | | matter what your credit is like, you'll be able to find |
| it gives the bank a bigger financial cushion if you | | | | someone who is willing to take a risk on you. |
| default. | | | | |