You can also refinance a larger amount than you need to fund a major purchase at a low interest rate, such as a new car or college tuition. Fill out our free short form today to contact lenders about bad credit refinancing.

There are many reasons to look into refinancing, especially if you have bad credit or if you are currently being harassed by creditors. If you:

• Are in need of debt consolidation
• Have a high interest loan
• Have an adjustable rate mortgage
• Would like to invest in home improvement or repair
• Need to pay for college tuition
• Have significantly repaired your credit report and would like to pay off an old bad credit loan.
• Want to make a major purchase but do not have the funds

Debt consolidation can help you get from under the stress and pressure of collections calls and the mountain of bills that come to you each month in the mail. Refinancing all of your small loans into one larger one will allow you to have one monthly payment. This will help you pay off your debt more easily, generally with a lower interest rate and often lower monthly payments. Also, lenders understand that applicants looking for to refinance in order to consolidate debt usually have damaged credit and so the requirements for this type of refinancing would be more lenient.

An adjustable rate loan is often taken on by people with bad credit. If your situation has improved since you closed your first loan and you believe you can qualify for a fixed rate loan, or if you desperately want a lower adjustable rate cap, refinancing can help you. Refinancing to a fixed loan will give you the security of know exactly what your monthly payments will be for the life of your loan, and a low rate cap will give you the knowledge that your adjustable rate will not climb too high. Refinancing may get you a loan with the security that you did not obtain the first time around.