Help consolidating bills
Know that you will have to pay income tax on the money you take out of the retirement account if you are not yet of retirement age.
Some other options include borrowing against your house or car with a line of credit or borrowing from friends or family. Many lenders conduct a soft inquiry, which does not require as much information. You will need to provide bank account information for dispersal of your funds.
Consolidating your bills with a loan is an efficient option, but it is difficult if you have bad credit. If you get pre-approved, you will need to submit some additional information such as your Social Security number, proof of employment and proof of income level. When you have bad credit, it is not as easy to get a loan in order to consolidate your bills.
It is important to make sure that you can afford the repayment terms of your bill consolidation.
It pays to consolidate your bills if you can lower your overall interest rates.