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Question By
Cubbie115

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If I pay off debt
With lending tree loan, will it hurt my score
Or help??

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Top Contributor
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Paying off your debt is always good

Just be sure to check with the lender before trying to pay off a loan.  I've never dealt with Lending Tree so I'm not sure how the write their loans. 

Some lenders will write fees into the contract that will be due if you pay off early.  This is so that they can recoup some of the lost interest from an early pay off.  Some of the on-line lending companies now write their loans with early pay off in mind and your pay off is exactly the same weather you pay early or not.

In general, Paying off any loan will reduce your debt to income ratio and your available credit.  But that is not always a bad thing.  You may see a dip in your score initially, but it should bounce back fairly quickly.

good luck

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