Discover how debt consolidation affects your credit score and learn strategies to minimize any potential impact.
LightStream is our pick for the best debt consolidation loan based on an industry-leading score of 5 out of 5 stars in our latest review.
A debt consolidation loan is one option to streamline your finances and cut down on interest paid, even if you have bad credit.
It can be tough to consolidate your debt with a less-than-ideal credit score, but it's certainly not impossible.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate personal loans to write unbiased product reviews. If you're juggling credit card payments, it can feel tough to stay on track and get ahead. Through credit card debt consolidation, it's possible to simplify the repayment process and merge multiple payments into one, ideally with a better interest rate. You do this by taking out a new loan ...
Debt consolidation may raise your credit scores if you use it to pay off debt. Read to learn how debt consolidation affects credit scores.
CNBC Select compared debt consolidation loans for borrowers with less-than-perfect credit based on score requirements, fees and interest rates.
Does Debt Consolidation Hurt Your Credit Score? Debt consolidation could temporarily affect your credit score negatively because of a credit inquiry, but it can help your credit score in...
Are you concerned that debt relief could hurt your credit score? Here are a few ways these services may improve it.
Debt consolidation can simplify your debt payoff efforts and save you interest. But can it hurt your credit score? Learn more.