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Which are the advantages and disadvantages when people consolidate a credit dept?
Wiki User
∙ 10y ago
Consolidated credit debt can be advantageous in that it is best suited to persons who cannot make minimum bill payments, however it is advised that the proper research is done to ensure that the program used will be effective without costly penalties or interest rates. Some of the disadvantages include the lowering of a credit score and loss of property in the event that the consolidated loan is not repaid.
Wiki User
∙ 10y ago
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