While it is generally true that there can be “good” debt and “bad” debt, Carpe’s approach to debt management is to first achieve the lowest possible interest rate before deciding which falls into which category.
From there, you can figure out what to do with the savings.
That's why P2P Credit offers bad credit debt consolidation loans to those who have poor to average credit.
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Loan applicants will need a credit score in the mid-600s or higher for easy approval and low rates.
With a credit score below that, it will take some work to find loans for which you qualify.
With so many ways to consolidate, there’s bound to be a solution for your unique situation. Debt consolidation is the process of combining your debts into one loan with a lower interest rate.
Instead of having multiple debt payments each month, you’ll only have one.
Before spending hours searching for the most affordable debt consolidation loan, you should save your time and money by applying with P2P Credit.
Having less than perfect credit shouldn't stop you from receiving the benefits of consolidating your debts.
To determine if you can lower your debt payments by consolidating, use Lending Tree's debt consolidation calculator.
One option for home owners is to use equity in their homes as the basis for consolidation loans.
Do you feel like your life is on hold because you’re trapped by all your debt payments? Consolidating your debt could be the answer you’re looking for.
It can help lower your monthly payments and get you out of debt faster so you can be in the driver’s seat of your own finances.
For another thing, interest on mortgages is generally tax deductible, which can further reduce the effective interest rate you are paying.