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cmbgirl64

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Is a equity line of credit good at this time to consolidate bills to payoff

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If you mean a home equity line to be used to pay off such things as credit cards, then it is not a smart idea.  With a home equity line, you are borrowing against the value of your home and, should you fail to pay as agreed, you could lose the home.  It is a "secured" 'loan because the house value is guaranteeing that the lender gets paid. You're also paying interest on that loan. Credit cards are "unsecured" debts because there is usually nothing purchased with a credit card that could be sold to pay back the lender.  If you don't pay the credit cards, you might get some nasty notes and phone calls, and possibly be sued, but there is no major loss to you if you don't pay them other than a drop in your credit score.

Instead of a home equity line, try for a 'balance transfer' credit card that has no less than one year at 0% interest. That will help in many ways like increasing your credit score and allowinbg you the opportunity to get the card balances fully repaid without incurring interest.  Do not close the cards if you go this way because that is foolishness and will hurt  you.  If you don't understand why, please re-read the articles here.  That is what this site is here for....helping to improve credit understanding.

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