Consolidating credit card debt and credit score

If you still have questions or need help exploring your options for consolidation, call us at But no matter which option you choose, as long as it’s the right option to fit your needs and financial situation, then the overall impact of debt consolidation on your credit should be positive.

In most cases, the consolidation will not even appear on your credit profile, because for all intents and purposes you’re paying your debt off on a schedule you and your creditor agree to follow.

While consolidating those debts into a single payment with a lower interest rate can help you pay off debt faster, you should be wary of companies offering debt consolidation plans.They also can provide budgeting and financial management training and advice to help you along the road to recovery. The cliche about rearranging the deck chairs on the Titanic came to mind when I read your question.But debt consolidation is not always the best way to deal with debt issues, and it has drawbacks you should be aware of before you move forward with it.What’s more, there are several ways to go about consolidating debt, and depending on your circumstances, one method might make more sense for you than another.It uses a complex mathematical algorithm to come up with a score that predicts whether you are more or less likely to default on your next loan.

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