consolidating
Date: Sat, 05/01/2010 - 09:37
can i consolidate even if im falling into the bad credit score area.....
Consolidating per se comes in two forms...getting a consolidatio
Consolidating per se comes in two forms...getting a consolidation loan from a bank or lender and making one monthly payment...for this you need to have reasonable credit or a cosignor and/or collateral. Then there is debt management which some call consolidation...you hire a debt management company or nonprofit CCCS to manage your debt and you make one monthly payment and they distribute the funds. This is what most people with poor or bad credit do.
Quote:Originally Posted by Pam Bombaycan i consolidate even if i
Quote:
Originally Posted by Pam Bombay can i consolidate even if im falling into the bad credit score area..... |
Yes definitely, you can consolidate your debts even if you have a bad credit score. And as per me that will a nice move. Because you have already meshed up with your scores and by consolidating the debts you can 1st of all pay them off and then again start rebuilding your credit score. Because in consolidation also you will be loosing some points but it does not matter for you at this present moment as you have already have a bad credit score.
