We receive advertising fees from the brands we review that affect the ranking and scoring of such brands.
Advertiser Disclosure

How Debt Consolidation affects Credit Score

Your credit score is one of the factors that determine which offers you will receive from lenders. It will help determine which lenders would accept or deny your loan applications. In addition to that, it will be one of the factors considered when determining interest rates they’d be willing to offer you. When you’re struggling with debt, the way you choose to handle it will have a profound effect on your credit score. One of the ways people deal with overwhelming debt is debt consolidation. But debt consolidation loans have an interesting relationship with your credit score. Let’s delve into the relationship debt consolidation has with peoples’ credit scores. [mainBtnUrl url='https://lendstart.com/debt-consolidation/best-loans/' text='Best Debt Consolidation ' min-width='100px']

Your credit score is one of the factors that determine which offers you will receive from lenders. It will help determine which lenders would accept or deny your loan applications. In addition to that, it will be one of the factors considered when determining interest rates they’d be willing to offer you.

When you’re struggling with debt, the way you choose to handle it will have a profound effect on your credit score. One of the ways people deal with overwhelming debt is debt consolidation. But debt consolidation loans have an interesting relationship with your credit score.

Let’s delve into the relationship debt consolidation has with peoples’ credit scores.

debt Might Drag Your Credit Score Down

Best Debt Consolidation