consolidation flip-flop

Hi

You have a very good credit score. If you give some more efforts in making the payments on your own, your financial identity will be the best amongst all.

If you are unable to make the payments on your own or having higher interest rates, you can use consolidation program without any problems. This will be reported in your file as long as you are using the services. It will not leave any negative impact in your file in the long run. At present, your lenders will know the fact that you are using professional help for making the payments. Having such a nice credit score, getting new credit won't be a problem for you in the future. Consolidation program does not hurt the credit scores largely. The difference will be minute if you would have made the payments on your own.

Take the free quote from the consultant who will be reviewing your debt accounts. He will offer you easy repayment options and help you come out of debt.

miscsellout, the effect of debt consolidation on your credit is like this: Debt consolidation has no direct impact on your credit score. Your creditors can report that you are in credit counseling on your credit report, but this does not affect your score. However, lenders can see that you are in consolidation, and can draw conclusions as they wish.

You will have to close your accounts. This can cause a drop in your credit score, as it effectively "closes off" your credit history. This is where you may see a negative impact, since you have a healthy score as is.

What you have to do is determine what your situation is. If you can afford to pay these off on your own, but are simply looking for reduced interest, etc., then consolidation is probably not a good option. However, if you are behind or only able to make minimum payments, if your interest rates are too high, or if your balances are high and you are not making progress in paying them off, then the benefits of consolidation will outweigh the negatives. If your balances are going up rather than down, then you need to act soon. Do not wait until you get further in debt, or you will run out of options.