The affect debt consolidation will likely have on your credit will depend on your money condition and credit heritage. You can find five key aspects which can affect your credit scores. Right here’s a have a look at Each and every of these And just how debt consolidation might have an affect on them. He later on worked to be a consultant for J

Hard credit inquiries arrive about whenever you apply for new credit and typically reduced your credit scores by several points — though the impact on your scores doesn’t usually previous quite extensive. Clint Proctor is really a direct editor Together with the credit playing cards and journey rewards team at Forbes Advisor. He has 5 years