im in about 15,000 debt on credit cards and 12,000

im in about 15,000 debt on credit cards and 12,000 student loans. whats the lowest i would be able to pay if i consolidate. also, i have a credit score of 682, how would this affect that score and how long would it take to get the score into the 700s?

4 Answers

Your credit score will be affected if you opt for debt consolidation. But as you pay off your debts and add positive credit details on your credit report, your score will start increasing. You'll have to do something about student loans. Forget about crossing the 700 benchmark if you can't repay the student loans.

Regarding your credit card debts, there is nothing particular lowest payment as such. Search for an authentic debt consolidation company with the help of which you can consolidate your credit card debts. It depends upon the negotiation skills of the debt expert who convinces your creditors to reduce the interest rate on your outstanding debts. You enjoy making a single monthly payment against your multiple credit card debts in a debt consolidation program.  

Is it a private student loan or a federal one? Moreover, you cannot consolidate student loans. Your credit score will take a big hit if you consolidate your debts and you will need to work on your creditworthiness for a while before you can get to the 700 range.

There is no specific time limit within which your credit score will raise. You may contact with the credit card company and try to consolidate your debts. Look at this page to know how to do it yourself:

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What is the sum of 12 and 7

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