Q. I own a home free and clear but want to pay off debt and make improvements. What do you recommend?

A. The standard answer to this question is a home equity line of credit, and it would be the right answer for you if you could qualify. Your poor credit may make some lenders unwilling to work with you, but the fact that you have lots of equity in your home probably will make up for that.

The rates are better than any other type of consumer loan, you can draw down and repay the line as often as you choose, and you only pay interest on the current balance.

Even if you have to pay a little higher interest rate because of your credit score, a line of credit will be the best deal for what you need. You can look for the lowest rates on Interest.com's extensive database.

We know you didn't ask, but here are 7 smart moves to improve your credit score.