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If I enter into debt consolidation, will it affect my credit rating?

Hi Robert

Welcome to forums. debt consolidation program will give a boost to your credit rating as all your dues will be paid under this program. It will improve your credit worthiness as your finance will be easily manageable.

Debt consolidation has a more immediate impact on your credit report. Under this program, there is only one payment to be made instead of multiple payments. In this way, you can keep your debt under better control and make easy timely payments.

The creditors also appreciate your positive move of enrollment in a debt consolidation program as they find you taking this responsibility of paying off your past debts.

Credit report is one of the most important and prestigious financial document of an individual. It needs to be kept clean at all times for acquiring additional credit in the future.

Please let us know if there is any further query from your side. Your signing up will be the first step to keep a positive check on your credit report.


Sub: #1 posted on Sun, 06/05/2005 - 03:28

roxette roxette

(Posts: 4009 | Credits: )

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