Plain-English Guides to Debt, Credit, and Personal Finance
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Debt Consolidation Options With Fair Credit (580-669)
Key Takeaways With a fair credit score — roughly 580 to 669 — debt consolidation is possible, but it requires more comparison shopping and more caution. Offers vary widely in this range, and the wrong one can cost more than…
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Debt Consolidation Options With Bad Credit (Below 580)
Key Takeaways If your credit score is below 580, most mainstream consolidation loans will be out of reach — and the ones you can get may cost more than your current debt. That doesn’t mean you’re stuck. It means the…
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Does Debt Consolidation Require a Credit Check?
Key Takeaways Most debt consolidation options involve some kind of credit check — but not all checks are the same, and not every option requires one. Understanding the difference between soft and hard inquiries can help you shop for the…
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How Your Credit Score Determines Your Debt Relief Options
Key Takeaways Your credit score shapes almost every debt relief option available to you — which lenders will approve you, what rate you’ll pay, and whether a loan or a nonprofit plan makes more sense. Here’s how the main options…
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Can You Get Approved With No Credit History at All?
Key Takeaways Having no credit history isn’t the same as having bad credit — but to many lenders, it can look similar. Without a track record, lenders can’t predict how you’ll repay, so traditional consolidation loans are hard to get.…
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0% Balance Transfer Cards: A Smarter Alternative to Consolidation?
Key Takeaways A 0% balance transfer card can be the cheapest way to pay off credit card debt — if you use it correctly. It lets you move high-interest balances to a card that charges no interest for a set…
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Should You Borrow From Your 401(k) to Pay Off Debt?
Key Takeaways When credit card interest is eating your budget, the money sitting in your 401(k) can look like an easy solution. A 401(k) loan offers a low rate, no credit check, and interest you pay back to yourself. But…
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Home Equity Loan vs. Debt Consolidation: Which Makes More Sense?
Key Takeaways If you own a home, you may be weighing two ways to consolidate debt: a home equity loan (or HELOC) or an unsecured debt consolidation loan. The home equity option usually offers a lower rate. The unsecured loan…
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Borrowing From Family to Pay Off Debt: Pros, Cons, and How to Do It Right
Key Takeaways Borrowing from a parent, sibling, or friend to pay off high-interest debt can save a lot of money — no credit check, often little or no interest, and flexible terms. But money between loved ones can strain relationships…
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The Debt Snowball vs. Debt Avalanche Method Explained
Key Takeaways Once you commit to paying off debt, the next question is which debt to pay first. The debt snowball and debt avalanche are the two most popular strategies. Both work. The best one is the one you’ll actually…