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Getting home equity debt consolidation loans are very popular lately. In many cases families with bad credit card debt problems may be tempted to take out home equity loans to consolidate their unsecured debts. The problem is that because this type of loan converts UNSECURED debts to a SECURED debt.
Right now if you get behind in payments to your credit card company, they don't take back the items you purchased with your credit card. BUT if you fail to make the payments on a home equity loan, your HOUSE is now AT STAKE. The institutions that provided the bad credit loans CAN and WILL take your home if you don't make your payments.
Also beware of any company that states that they'll give you bad credit loans at an extremely low interest rate even if you have a poor credit history, They are almost always fraudulent, illegitimate organizations. You'll be required to send a high one time application fee. This fee is how they make their money and you'll more than likely never see the promised loan. Often, when you contact them to find out where your loan is, you'll find that they have disappeared, or never really existed in the first place. The individuals or groups making the promises are often virtually impossible to track down even with the best legal assistance.
Let the trained counselors find the BEST SOLUTION for you by first filling out the form on the right for your FREE debt assessment.
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