Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
JDSimpson4

0 Contributions
0 People Helped
Is debt consolidation good or bad for your credit?????
Mainly Freedom Debt collector

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3672 People Helped

Thats an open ended question...

In general if you can consolidate your debt and pay it off it will help your scores. Be aware that there are many scam services out there that will take your money but don't really do anything for you.  None of these services do anything for you that you can not do for your self, They will charge you for all of it though.

If you are able to consolidate your debt on your own by applying for credit then your better off doing it your self. Most of the time you don't really need to consolidate, but negotiate.  

If you have collections on your account that you are trying to deal with then i sugest that you Google "Pay to Delete" and  "Offer and compromise" and try using that avenue to deal with your debts. 

If you are just over extended and need to reduce the amount of your current debt then I would suggest that you put all your credit cards in a Drawer and not use any of them untill you have reduced your overall debt.  If your having a hard time paying the bill then your are living beyond your means and need to rein in your spending.

Good luck

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.