Consolidating debt affects credit speed dating barrie ontario


04-Mar-2018 04:07

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Only then will you steer clear of the financial disaster of racking up a new 5- or even 6-figure debt load after you consolidate.

Funding an emergency savings account should help you better manage unexpected expenses as they occur, but if your main problem appears to be that you’re extending your income with credit, you need a spending plan.

You need a plan that brings your expenses in line with your income and one you will commit to follow.

Missing even one payment on an account will hurt your credit history and your credit scores.

Debt consolidation won’t address the real problems that may sink your credit rating!

SEARCH RATES: If you’re considering a personal loan for debt consolidation, first check out the rates at

In addition, your spending plan will help you determine if you can afford to consolidate your credit card debt.

With your good credit rating, let’s say you qualify for a personal loan at 10% interest.

If your financial health is strong, the measures will reflect it.