Does consolidating student loans hurt my credit score
Debt consolidation is a good idea especially since a good agency may be able to get your interest rates reduced, waive or reduce late fees, financial charges, etc.This results in you paying less money to your creditors in the long run,and, in a quicker amount of time. You should deal only with certified professional credit counselors.All these together can help you to improve your credit score.Thanks, Aaron Hi Guest, Yes, debt consolidation does not hurt your credit score as you are not required to miss payments.You can remove the wrong items from your credit report by sending dispute letter to the credit bureaus.If you had went delinquent on any of your accounts, or if you have collections on your credit report you can try removing these through "Pay for delete" or Goodwill letter and disputes.But the credit score also depends on how you deal with your current financial situation.After you go for the debt consolidation program make sure that you use your older accounts.
You will have to go on making on-time payments on your credit accounts and remove ant wrong items from your credit report.
Secondly negotiate your account status with the creditors and go for a pay for delete agreement with them.
Then ask them to update your account status as "Paid in full" or "Paid as agreed". And yes last but not the least get a secured credit card.
Then negotiate your account status with the creditors and go for a pay for delete agreement with them.
Then ask them to update your account status as "Paid in full" or "Paid as agreed". And one more thing is that you won’t be able to consolidate the student loan.