I am not getting collection calls or have been lat

I am not getting collection calls or have been late on any of my credit cards. I just can't pay more than the minimum. I want to consolidate into one monthly payment. How does this affect my credit score.

3 Answers

In consolidation, only if you close down accounts, it can hurt your credit score.


It’s quite difficult to say by how much point your credit score will hurt, if you consolidation your debts. It is true that debt consolidation will hurt your credit score initially. But with time, your credit score will improve gradually, if you make your all payments on time. Try to add positive information on your credit report.


A debt management program will tank your credit score as you are not paying your credit lines as agreed.  Plus all of your cards will be cancelled which in itself will lower your score.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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