Lenders consolidating loans
Debt consolidation loans for bad credit are either not possible, or come with high interest rates.You should know all of your options before doing anything.You can transfer the balances of the high interest accounts to the no interest card.This will help you pay off the debts much faster and save a lot of money in interest.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.
If you have bad credit this may not be an option for you.
If you have low average to bad credit (below 660 credit score) you may still qualify for a debt consolidation loan but the interest rate will be high.
Rates can be as high as 30% in some cases defeating the purpose of a debt consolidation loan.
You may be able to qualify for a cash-out refinance with bad credit as low as 620.
There are several credit cards out there that offer a 0% initial interest rate between 12-24 months.Many people use the money from a home equity loan to pay off credit card debt.