Is consolidating bad for your credit

Is consolidating bad for your credit

In many cases, having multiple credit accounts in good standing can improve your score — but, when you fall behind on one type of debt, it can strain your ability to keep up with the rest.

For some, a good way to get a handle on their debt is to get it all in one place through a debt consolidation loan.

Personal is not a lender — it works as a network to connect consumers “seeking fast, hassle-free financial assistance with skilled, reputable lenders can who can provide it.” This effectively eliminates the need to complete multiple loan applications.

Bad Credit truly advocates for the poor credit borrower, as their site provides information and resources that help consumers improve their credit and financial standings.

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How it Works | Company Reviews | Bad Credit Approval Tips — several loans with different terms into one loan, hopefully with more favorable terms.Paying off your credit cards with a consolidation loan can help you avoid that cycle, as well as any credit score hits from missing payments when the balance becomes unmanageable.Be sure to look for an interest rate lower than that of your current debts.Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.A few weeks ago, while in line at the grocery store, I glimpsed a woman whose wallet held more credit cards than I’ve ever seen in one place.

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So, Pete is currently paying four different people, at four different times, with four different interest rates.

Join our conversation (81 Comments).
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Comments:

  1. 1
    Steve

    Wait it out for a few weeks, get back in touch, and try to let the "connection" she was talking about happen naturally by casually seeing her and having a good time (if she's up for this).

  2. 1
    Steve

    Or do you know what your accountant do in her free time?

  3. 1
    Steve

    This will prove that it’s a real girl and not a bot.

  4. 1
    Steve

    The main theme of the scam is that someone (be it a young women or a young men) contacts a potential victim on a dating site, quickly involves the potential victim into romantic online-relationship, and then asks the potential victim for financial assistance with arranging a person meeting.

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