Effect of consolidating my debt on my credit

Consolidation will be good if you are unable to pay the debts on your own. There are many who have hard times in paying the high interest rates. Nothing goes to the principal if you are paying just the minimums. You lose maximum portion in interests alone.

At this stage, consolidation will do the repair and you won't have to go through any defaults on your accounts. The repair to your credit will begin just in the right time.

I chose consolidation to help me while I am still tring to develop a good financila picture and attitude. It meant to me that i didn't have to worry about 4 payments a month, just had to make sure my money was there do the CC at the first of the month and let them handle the payments. I don't plan on using them for the duration just until I get my stuff together