Comments on: Will using a personal loan to consolidate cc debt negatively impact my credit score?

By: sun s

sun s — Wed, 31 Dec 2008 01:54:59 +0000

When you gets into a debt trap it becomes difficult to get out of it. Taking more loans to repay the debts leads to more stress and financial crisis. Finally, there is no option but to adopt debt consolidation, which leads to a new llease of life. Many people receive abusive calls from debt collectors and are stressed. Hence opting for debt consolidation is the number one solution and helps to overcome abusive calls and be free from mental stress.
References :
http://www.freewebs.com/helpee/

By: Jai

Jai — Wed, 31 Dec 2008 01:32:59 +0000

No
References :

By: MARIA

MARIA — Wed, 31 Dec 2008 01:13:59 +0000

If you always pay on time you should a better credit score, but consolidate your debts will no affect you credit score.
You will have to be very careful, because usually people who consolidate debts do ok in the begining but in a while they start to use their crdit cards again and find themselves paying the loan and the credits cards.

If you have decided to do this, try to include everything you owe, not just credit cards, you can do that, for example:

You can consolidate

…credit cards
…loans you actually owe

Before doing all this RESEARCH al least 10 institutions to refinance, have it all in writing.

You can too apply to a credit card that offers a low interest, and move your balances to that one.

Go to http://www.refinancemortgagebrokers.com/refinance.asp

to see how much you can save consolidating you actual payments…

Good luck
References :

By: zeke58

zeke58 — Wed, 31 Dec 2008 00:26:59 +0000

taking out a loan to pay down credit card debt is a popular way of getting out of that kind of trouble. It will consolidate your payments at a lower interest rate, thus making the debt easier to pay off. Plus, you will not be subject to the late fees and charges on ur cards. It would be a good idea to get rid of some of the cards once they are paid off. That will help your score. It will also help to have only one acct with a balance (your personal loan) as opposed to several credit cards. be careful with the loan that you get though. Make sure you get a fixed rate.
References :

By: sudi p

sudi p — Tue, 30 Dec 2008 23:53:59 +0000

surely
References :
http://www.gettheloan.110mb.com/