Debt Consolidation and Credit Score

Date: Wed, 02/04/2009 - 20:22

Submitted by anonymous
on Wed, 02/04/2009 - 20:22

Posts: 202330 Credits: [Donate]

Total Replies: 3

I am thinking of consolidating my debt. Of course the debt will be reduced; but how will that effect my credit score. I filed bankruptcy several years and finally getting a good score and I don't want to ruin it again. Thanks for any responses.

Well, you may want to view the effects of your score at myfico.c

Well, you may want to view the effects of your score at myfico.com. Things you do or do not do may impact your credit score. That website should be helpful.

lrhall41

Submitted by on Wed, 02/04/2009 - 22:54

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As far as I know, Debt Consolidation Program or Debt Management

As far as I know, Debt Consolidation Program or Debt Management has positive affect on your credit score. Your score improves as you payoff the debt through this program.

You may also go through the following page for more information: -
Debt Management - Can it get me outta debt without hurting my credit score?

lrhall41

Submitted by phoenix on Wed, 02/04/2009 - 23:40

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im under the impression(i may be wrong) that consolidation is go

im under the impression(i may be wrong) that consolidation is good for your credit. it is settlement that hurts. settlement you stop making payments and negotiate your debt to a smaller amount. This is better in a long term than bankruptcy, but is easily repaired in about a year or two. consolidation i dont think impacts your credit.

lrhall41

Submitted by love_my_things on Thu, 02/05/2009 - 10:54

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