Discover how debt consolidation affects your credit score and learn strategies to minimize any potential impact.
Learn how to qualify for a debt consolidation loan and simplify your finances. Get the steps and best tips to secure your debt consolidation loan today.
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.
Debt consolidation can simplify your debt payoff efforts and save you interest. But can it hurt your credit score? Learn more.
Updated Jul 11, 2024 ; Written by Amrita Jayakumar ; Edited by Kim Lowe ; Co-written by Jackie Veling
Debt consolidation can help or hurt your credit score—depending on which method you use and how diligent you are with your repayment plan.
Debt consolidation may help your debt situation, but before you move forward with this debt relief method, it’s important to understand what it may do to your credit.
Debt consolidation can hurt your credit in the short term, but there are potential long term gains to consider. Learn more about the good and the bad here.
Learn how long debt consolidation stays on your credit report and its impact on your finances. Understand the effects of debt consolidation on your credit score and financial health.