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frannyjean2

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How will debt consoldation affect my credit score

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Probably not much, since all you are doing is moving debt from one place to another, not reducing it.  If you open a new loan, your credit will take a small hit because of the inquiry.  Might also drop depending (again) on your current utilization.  However, if you save money in the long run (due to lower or less interest payments) it may be worth it.  To learn more about this, I suggest www.credit.about.com and read about how your credit score is calculated.  Sorry I can't give you a quick answer.

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Addison, thank you for your quick reponse to my question, I am still thinking about whether I should do it, at least if nothing else to have only one bill coming in and my only fear is using the cards again!!!!!!!!  Jean

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