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Does debt consolidation hurt my credit? | The Simple Dollar

Does debt consolidation hurt my credit? | The Simple Dollar

Debt consolidation is a strategy that allows you to simplify your total loan repayments by merging all your loans into one that can save you money on interest rates and monthly repayments. However, you have to take note that debt consolidation can also harm your credit score. A new loan application will flag on your credit that will temporarily lower your score.  But if you can consolidate your debt into a low-interest loan with manageable monthly repayments, it’s worth trying this option.

Source: https://www.thesimpledollar.com/loans/personal/does-debt-consolidation-hurt-my-credit/?utm_source=feedly&utm_medium=webfeeds&utm_campaign=Feed%3A+thesimpledollar+%28The+Simple+Dollar%29

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