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FocusedOnCredit87

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Debt Consolidation
My credit score is 593 I have 4 accounts that are in collections that are less than $2000 worth of debt. Would debt consolidation be appropriate in order for me yo raise my credit score??

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I don't think debt consolidaton would do anything for your credit score, because the amount of debt is the same, it's just all on one account instead of 4.  Your score will improve as those collection accounts are paid and are eventually removed from your report, but that won't be for 7 & 1/2 years from the date it is paid off, or the date it went delinquent, whichever is later.  However, you can try to negotiate with the collectors to have a "pay-per-delete", where you'll pay the full balance of the debt and the collectors agree to delete the account from your credit report.  Be sure to get that in writing.  To learn more about repaying debt, go to www.credit.about.com.  Best of luck!

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