Frequently Asked Questions About Debt Consolidation

Have a question about consolidating your debt? Countrywide is here to help.

The following are answers to some common questions that are frequently asked about obtaining a loan, debt consolidation loans in particular. If your question isn't listed, give one of our friendly, experienced debt consolidation consultants a call at 1-800-909-8217. They'll be glad to assist you.

How much can I borrow with a debt consolidation loan?

How much you can borrow depends on the amount of available equity you have in your home and how large of a loan you may qualify for, based on income and existing financial obligations.

For a more exact quote, call 1-800-909-8217. A Countrywide Home Loan Consultant can give you a FREE, no obligation loan consultation.

I’ve been told I have "bad credit." Can I still get a debt consolidation loan?

At Countrywide's Full Spectrum Lending, we believe your future is just as important as your past. We look at more than just your credit score, so you may be able to qualify for a prime loan despite having "less than perfect credit." Learn more about consolidating debt with less than perfect credit.

Why consolidate debt with Countrywide?

Countrywide offers loans to people with a wide variety of credit profiles and sources of income, and our guidelines are among the most flexible and people-friendly in the mortgage industry! We can work with you to find a loan to meet your specific needs. Learn more about the benefits of consolidating debt.

Can consolidating debt improve my credit?

Debt consolidation can be a good first step in helping to repair your credit, since it can reduce your credit card debt and may help you to repay debt faster. Because you would have fewer bills to pay, it would likely be easier to make payments on time each month. Because the interest rates are often lower, you would be able to put more money into paying down your debt, which is also a factor in improving your credit. Learn more about how consolidating debt can improve your credit.

Is a home equity loan or a home equity line of credit a better option?

Deciding which loan is right for you depends on your specific needs. Countrywide’s experienced Home Loan Consultants can assist in determining what would be best for your situation and help you find a debt consolidation home loan that is best suited to help you meet your needs. Call 1-800-909-8217 today or learn more about home equity loans.