How does consolidating your debt affect your credit score?

Answer 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 »

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Does consolidating debt hurt your credit score?

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 »

Does a lawsuit by a debt collector affect credit score?

On One Hand: Nothing To Worry AboutThe mere filing of a lawsuit won't affect your credit score. Nothing will appear on your credit reports unless the debt collector wins in court and is awarded a j... 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 »

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 »