Consolidating debt hurt your credit

When trying to deal with debt, consolidating your credit cards and low interest loans can help you save a lot of time and money.

If you’re currently thinking about consolidating your debts this option is probably high on your list of viable choices.

Just remember that applying for a new loan may also cause a shot-term dip in your credit score, don’t be worried if this happens.

If you’re having trouble getting a debt consolidation loan because of your low credit score then you should consider entering a debt management program.

Consolidating your maxed out credit cards with an instalment loan (a debt consolidation loan) will more than likely help your credit score.

Having a variety of different types of credit accounts will help improve your credit score and paying off credit card debt is always a good idea.

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