A Debt Consolidation loan is an unsecured loan similiar to a Personal loan and does not require any collateral like an auto loan or mortgage.
Debt Consolidation is often advisable in theory when someone is paying credit card debt.
Consult you tax adviser on deductibility of home equity interest. You can best protect your credit by paying your bills on time. Your credit history is contained within a credit report.
You can obtain a copy of this report to insure the information contained on it is correct. Rule 4: Don’t apply for too many credit cards at the same time. Late Payments One of the fastest ways to mess up your credit rating is through late payments. Credit card companies report to the Credit Reporting Agency when you account goes more than 30 days in arrears. The statistics show that people with poor credit ratings are more likely to get in accidents.
Borrowing money to pay the bills can make sense in that you're staying current on your financial obligations.