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How long does using a credit consolidation company negatively effect your credit history or rating?
Wiki User
∙ 8y ago
Many lenders look at credit counseling as a bankruptcy. If you have debt that is managed and paid by a CCC and the agreed upon repayment schedule is being met then it should not effect your credit score. However, if you plan to buy a house, most mortgage lenders will turn down borrowers in credit counseling.
Wiki User
∙ 8y ago
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Where can one find a credit card consolidation company?
To find a credit card consolidation company one could visit the website called "Debt Consolidation Reviews". On the site there are reviews on the top debt consolidation companies. These reviews can help one to choose the company that is right for them.
What company offers a debt consolidation credit card?
There are a number of credit card companies that offer debt consolidation. Wells Fargo, for example, is one notable company that is known to provide this service.
How may a credit card negatively impact an individual credit history?
A credit card may negatively impact a credit history in a few ways. 1. Paying your credit card late will hurt your credit. 2. Keeping a high balance on your credit cards will lower a credit score. 3. Going over the credit limit will negatively impact your credit score.
Where can one find non-profit credit card consolidation?
One can find non-profit credit card consolidation by visiting the Consumer Credit Website, a company that specialize professionally in credit and debt counseling.
How does consolidation company effect my credit?
When you hire a consolidation company to help you with your debt, you are basically telling the other creditors that you can not pay the minimum due and that you have to lower the interest rate. You will have a low credit rating on your report and if you want to apply for new credit, you can't.
Does student loan consolidation negatively impact credit ratings?
No it doesn't.
Where can one find a credit card consolidation company?
To find a credit card consolidation company one could visit the website called "Debt Consolidation Reviews". On the site there are reviews on the top debt consolidation companies. These reviews can help one to choose the company that is right for them.
What company offers credit consolidation services?
Many companies offer credit consolidation services. Check with your local credit union or bank to see if they offer this. If that does not satisfy you, you can consult a phone book for a company in your area.
What company offers a debt consolidation credit card?
There are a number of credit card companies that offer debt consolidation. Wells Fargo, for example, is one notable company that is known to provide this service.
How may a credit card negatively impact an individual credit history?
A credit card may negatively impact a credit history in a few ways. 1. Paying your credit card late will hurt your credit. 2. Keeping a high balance on your credit cards will lower a credit score. 3. Going over the credit limit will negatively impact your credit score.
Where can one find non-profit credit card consolidation?
One can find non-profit credit card consolidation by visiting the Consumer Credit Website, a company that specialize professionally in credit and debt counseling.
How does consolidation company effect my credit?
When you hire a consolidation company to help you with your debt, you are basically telling the other creditors that you can not pay the minimum due and that you have to lower the interest rate. You will have a low credit rating on your report and if you want to apply for new credit, you can't.
Will college debt consolidation show up negatively on my credit?
If you have a lot of debt on your credit from college and are doing college debt consolodation it doesnt mess your credit up, it helps you get your credit back , they work with you to help you .
Where is it possible to get help with credit card consolidation?
Many blogs offer free do-it-yourself credit card consolidation tips. If more professional help is required, one can hire a company to help them with their needs. Credit Guard is one company that offers such services.
Can you use other credit cards when are in a proccess of Debt Consolidation?
It is not recommended to apply for new credit cards or use the ones that you told the debt consolidation company that you can't afford the minimum payment. What is the point of using credit cards when you are trying to get out of debt? If you use any of the cards that are in the process of debt consolidation, the company can end your contract and what are you going to do to get rid of your debt?
Is credit consolidation a scam?
No, not at all. My reviews were same till I have to use it for my credit card consolidation. The best way is to consult a debt consolidation company to consolidate your debts because they know your creditors and so that would not be shown on your credit report which in result will not affect your credit score I also did the same time before getting consolidated for credit card.
can a credit card company like capitol one who forward account to legal dept in state of california take garnish payments out unemployment if nothing can be resolve out of court?
You should not avoid paying the minimum due in your credit card account. The credit card company does not care if you lost your job. What you need to do is to speak with a credit consolidation agency in your area. Ask around about their reputation. The credit consolidation company will make a deal with your credit card company.
