Would debt consolidation hurt our credit report/ score?

we have about $29k in debt, from vechicle payments, student loans and credit card debt. If we do a debt consolidation, will that hurt our credit scores/ report? my score is above 800and his is right below it.

Would debt consolidation hurt our credit report/ score?

I would think it would send up a red flag.

Plus if you consolidate (even if the interest is lower) you will be tempted to start buying again.

Would debt consolidation hurt our credit report/ score?

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Would debt consolidation hurt our credit report/ score?

The question isn%26#039;t clear. If you mean take out a loan and pay all of your existing debt off and then have one payment, then no it wouldn%26#039;d hurt it.

If you are talking about companies that intervene because you are having trouble making payments then yes it would.

Would debt consolidation hurt our credit report/ score?

If you own a home it might be advantageous to refinance the home and pay off the debt. You would probably have a positive tax consequence. The debt on auto payments and credit cards is not deductable on your taxes. The interest on your home loan however would be. The interest on your home loan is also significantly lower than other debt.

Would debt consolidation hurt our credit report/ score?

If you pay off other debts...credit cards, cars, school loans, etc., it would actually improve your FICO score. Do not close the credit card accounts because part of your score is based on %26quot;available%26quot; credit.

Maintain one card for emergencies, and make payments on time to keep your score high. Part of the score is also based on how you use and pay debts.

Would debt consolidation hurt our credit report/ score?

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Would debt consolidation hurt our credit report/ score?

I would consolidate it all by %26quot;selling the debt%26quot; to some

clever company with whom you can discuss a better interest rate, they pay your debt off for you then you just pay them, they get some good interest, you pay a lower interest... both win.

But you don%26#039;t want to trust just about anybody, read up on it, get ammo first then it%26#039;ll be easier, here you%26#039;ll find tons more info than I could possibly

post here. It%26#039;ll take a bit but it%26#039;s your money and well worth

taking your time over it

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and here http://finance.ebookorama.com

also plenty more to read here

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http://credit-repair.ebookorama.com

if you get any luck please don%26#039;t forget about me lol, hope it helped you!