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It's also possible that the interest rate on such a loan won't be lower than what you're already paying - in which case any reduction in your monthly payments would have to come from arranging a longer repayment schedule than you have with your current creditors.Another option would be to obtain a cash advance through one of your credit cards.

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Many lenders specifically offer loans for this purpose.

Of course, this approach requires that you have fairly good credit - if your FICO credit score is in the mid-600s or lower, you may have trouble getting such a loan from a bank or credit union.

However, you might be able to use a cash-out refinance to roll your other debts into your mortgage payment, as described below.

What you can't roll into a consolidation loan are ongoing bills and debts - the type where you incur new charges every month, such as gas, electric, cable TV, Internet, phone service, rent and the like.

However, if you've fallen behind on any of these and need to get caught up, you may be able to pay off your past due balances with a debt consolidation loan.

You just can't use that loan to continue to pay your new obligations going forward. There are several options, including going to a loan consolidation specialist or, if you're a homeowner with equity in your property, taking out a home equity loan to cover your debts.First, there are little or no origination fees with a HELOC.HELOC also are usually set up as interest-only loans during the "draw" period when you can borrow money before starting to pay it back, often 10 years - which can be helpful if you're experiencing temporary financial problems.To qualify, you'll have to have fairly decent credit - mid-600s or above, perhaps 700 for some lenders - and a fair amount of equity in your home.Lenders will likely want you to still have at least 10-20 percent equity after taking out the loan.There are some situations though, where a HELOC might be a more attractive option.

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