Consolidation on my credit report
Date: Mon, 02/13/2006 - 02:30
Agnes Hickey
Hi Agnes! Paid accounts portray a better view to the lenders. If
Hi Agnes! Paid accounts portray a better view to the lenders. If all your debts are paid, the lenders will be willing to extend new credit packages to you because you have been responsible towards your old accounts. debt consolidation is a program that makes this repayment process easier for the consumers. All your accounts will be combined together into one loan account and you will be able to pay it at a lower rate of interest.
A small statement appears besides your accounts in the credit file marking this program. This statement does not hurt the credit ratings.
As you are planning to buy a car, your credit file will look good if all the debts are paid off before 2007 so that lenders can offer you some good financial packages. Take a free counseling and discuss about your repayment options with the consultant. He will guide you throughout the process and help you in achieving a debt free life.
