Does consolidating debt hurt your credit score?

Answer On One Hand: Consilidation Can Hurt ScoreFor someone in serious trouble with debt, a debt consolidation loan might seem like a good option. However, according to Craig Watts of Fair Isaac Corp., c... Read More »

Top Q&A For: Does consolidating debt hurt your credit score

How does consolidating your debt affect your credit score?

All they do is take one big check you write them, and pay off your creditors. When one debt is done, they take the money from that and apply it to debt #2, so it goes faster until it's paid. Repe... Read More »

What is consolidating credit card debt?

American families who had at least one credit card owed an average of $10,679 in 2008, according to When credit card bills become hard to handle, consolidating the debt is one poss... Read More »

Does consolidating accounts hurt the FICO score?

Any change to a borrower's loan history will affect his credit score. Consolidating may temporarily lower a borrower's credit score if a new loan is procured or the limit on a credit card is almost... Read More »

Is Revolving Debt or Installment Debt Better for Your Credit Score?

While reviewing your credit report, you may notice some debts marked as "revolving" while others are labeled "installment". Although these types of accounts are very different, having both on your... Read More »