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 »

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 »

Does applying for a credit card hurt your credit score?

Applying for a credit card grants the credit card company permission to conduct a credit inquiry. Some forms of credit inquiries, like those performed by lenders and prospective creditors, can redu... Read More »

Does Debt Relief Hurt Your Credit?

When you are in financial trouble and your debt level is becoming impossible to handle, you will probably begin to notice the many advertisements enticing you to try debt relief. If you notice, the... Read More »