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Debt consolidation itself does not dramatically affect your credit score. However, the main issue with debt consolidation is that over 70% of consumers who consolidate their debts grow it back to the same level or higher
1. When you consolidate your debts, you are not learning how to manage your money better, you are performing a quick fixes, and quick fixes breakdown as fast as you put them together
2. You must take the necessary steps to learn how to manage your money by putting together a realistic budget
3. Create a simple to execute and even simpler to manage debt elimination plan
4. Make permanent decisions to change your spending patterns to spend cash for your purchases
Hope that helps
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∙ 12y ago
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Is credit consalidation bad for your credit score?
Yes it is! A credit consolidation is a bad credit item which ultimately lowers your credit score. It remains in your creditreport till 7 years and constantly affects your credit scores and your credit worthiness.
What are the advantages of credit card consolidation?
Credit card consolidation consolidates all of ones debt. Credit consolidation makes it easier to pay off ones credit card debt with a lower interest rate than most credit card companies.
Where could one find information on consolidation loans for those with a bad credit rating?
There are a few places one can look for information on consolidation loans for those with a bad credit rating. One can find information from the websites 'Bad Credit Consolidation Loans' and 'Debt Consolidation Loans'.
What are some credit card payment consolidation hotlines that work?
Careone credit, Debt consolidation care, Consumer Credit and Debt Consolidation Services, Curadebt, Debt Options, and Net Debt all have three star ratings or higher for credit card payment consolidation. I would recommend any of their hotlines over competitors.
Can one get debt consolidation loans with a bad credit?
Getting debt consolidation loans with bad credit is possible, but extremely difficult. One would have to find multiple offerings for debt consolidation loans and see which of them offer them to people with bad credit.
Is credit consalidation bad for your credit score?
Yes it is! A credit consolidation is a bad credit item which ultimately lowers your credit score. It remains in your creditreport till 7 years and constantly affects your credit scores and your credit worthiness.
What are the advantages of credit card consolidation?
Credit card consolidation consolidates all of ones debt. Credit consolidation makes it easier to pay off ones credit card debt with a lower interest rate than most credit card companies.
Who do I contact for Credit Card Consolidation?
If you have good credit, contact your bank and see about a debt consolidation loan. If not, seek out Consumer Credit Counselling Service (CCCS).
Where could one find information on consolidation loans for those with a bad credit rating?
There are a few places one can look for information on consolidation loans for those with a bad credit rating. One can find information from the websites 'Bad Credit Consolidation Loans' and 'Debt Consolidation Loans'.
What are some credit card payment consolidation hotlines that work?
Careone credit, Debt consolidation care, Consumer Credit and Debt Consolidation Services, Curadebt, Debt Options, and Net Debt all have three star ratings or higher for credit card payment consolidation. I would recommend any of their hotlines over competitors.
Does credit card consolidation show up on my credit report?
Yes, credit card consolidation will affect your credit score. It will show on your credit report for at least five years, it doesn't hurt as bad as bankruptcy however.
Can one get debt consolidation loans with a bad credit?
Getting debt consolidation loans with bad credit is possible, but extremely difficult. One would have to find multiple offerings for debt consolidation loans and see which of them offer them to people with bad credit.
Does a consumer credit consolidation counselor make much money?
A consumer credit consolidation counselor is usually a nonprofit counselor for debt consolidation. Those who are paid typically charge astronomical rates to the consumer.
Where can a Christian get a credit card consolidation loan?
A Christian can get a credit card consolidation loan at Prosper's online website. They offer many low rate debt consolidation loans with a fixed interest rate.
Where can someone get consolidation credit counseling?
You can get consolidation credit counseling online at the ConsolidatedCredit Organization website. Alternatively, you can also get this type of counseling from websites such as ConsumerCredit.
Where can I find consumer credit consolidation?
There are several places you can go for help in managing consumer credit consolidation. Your local bank or credit union would both definitely be able to help you with this.
Where can one find non-profit credit card consolidation?
One can find non-profit credit card consolidation by visiting the Consumer Credit Website, a company that specialize professionally in credit and debt counseling.
