How does debt consolidation look on your credit report ?

Hi peeples

Welcome to the forums. debt consolidation program appears on the credit report as long as you are enrolled in the program. After you complete all your payments, it will be removed from your credit report. The purpose of it is that you don't get additional credit which might hamper you in the future.

Your three digit credit score is the most important factor in your credit report. Make sure that you take every possible step to negotiate well with your creditors for achieving high scores. The creditors just want to have their money in full and they do not have any personal envy over you. They will rate you nicely if you keep on making regular payments.

From your side, please make sure that after you have made all the payments, your account should be shown as "Paid as Agreed" or "Account Closed- Paid as Agreed". These are the two ideal ratings which boost up the credit profile. Never get the status "Settled" for your account as it has negative effects and hampers your credit score in a major way.

Always make sure that you make your payments on time so that the creditors rate your account well.

Hope you participate more often in our forum and share your experiences and insights with the other members. We look forward to see active participation from you in the coming days.

Regards,
Roxette

Hi and thanks so much for all the great info on this forum. I was wondering 3 things:

1. Will consolidating your debts and having it posted on your credit reports lower your actual score?

2. If you are not behind on your bills but are only making the minimum payments each month and are nearly at the credit limit alloted you by the credit card company - are you still a good candidate for debt consolidation? It seems as if you are making timely payments (tho only minimum payments) then the credit card companies will not want to lose the interest they are getting off of you. Is it 'better' to just stop paying the credit card debt for a few months and THEN go to debt consolidation once the creditors see you can't pay?

3. After a debt has been turned over to a collection agency and then to an attorney, where you are making the debt payments to the attorney's office - can you still include this debt in your consolidation once it's gone this far?

Thanks so much!

Hi

Welcome back.

Quote:

Hi again and thanks so much.
I am still a bit confused about the quote you made below.

Straight out question: If you are paying a credit card debt to an attorney's office that has already went thru a collection agency - can you STILL have this debt consolidated along with any other debt you may have?

I guess I pretty much want a 'yes' or 'no' answer - not just a referal to sign up for the services, if at all possible.

After a debt has been turned over to a collection agency and then to an attorney, where you are making the debt payments to the attorney's office - can you still include this debt in your consolidation once it's gone this far?

Over here, the whole appreciation goes to the trained and professional consultants operating in this debt consolidation program who strive hard to understand the needs and situation of the debtors. For the said purpose, they can go to the maximum extent and eventually comfort the debtors for leading a peaceful life.

You must have realized by now that debt consolidation program takes every initiative to improve the financial situation of a person at any time. Due to this, it is the perfect bliss for the large number of people who want to make things better in their life.

Please utilize all the services and benefits of the debt consolidation program within your reach by entering your contact information at the sign up page. Hope to hear from you soon making this positive move.

http://www.debtconsolidationcare.com/signup/

Regards
Roxette

Hi Guest,

Welcome back. Your answer to this question is "Yes". This positive reply was only intended in the last post also. :)

Regards
Roxette