Consolidating loans for bad credit


27-Sep-2017 02:13

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Most often, the required collateral is a second mortgage or a home equity line of credit.

This is incredibly risky because if you cannot meet your payments, your home is on the line.

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Bankruptcy: This should be a last resort as it negatively affects your credit for many years.

While a debt consolidation is less risky than other options, like bankruptcy, it still carries a considerable amount of risk.



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