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How debt consolidation programs affect credit rating?

Asked on Tue, 10/18/2011 - 17:10
Anonymous

How debt consolidation programs affect credit rating?

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Submitted by Anonymous on Tue, 10/18/2011 - 20:58

Debt consolidation loans do not generally have a negative effect on a consumer's credit score, as these loans do not increase  the total amount of debt; they simply move it from one account to another.

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