Debt consolidating

Hi Okie

Welcome to the forums. Their are major differences between debt consolidation program and filing a bankruptcy. Debt consolidation program is certainly much safer and has positive outcome than filing for bankruptcy.

Quote:

Does a debt consolidation show up on my credit report like bankruptcy? Will it be near impossible to receive a loan for anything for years to come?

Debt consolidation program will appear in your credit report only as long as you are in the program. The moment you complete all the payments, it will get removed from your credit report.

Bankruptcy stays in your credit report for as long as 10 years. Moreover, it has devastating effects on your credit rating. Debt consolidation is a bankruptcy prevention program which provides you a financial freedom without any long term effects.

Since bankruptcy makes it difficult to obtain credit in the future, debt consolidation program will restrict you from getting additional credit only as long as you are in the program. After you complete all the payments, your credit report will get boosted up with higher credit ratings.

Bankruptcy should certainly be the last move when there are no other alternatives left. I will always suggest you not to file bankruptcy for as long as possible. Please read this page to know why you should do so.

http://www.debtconsolidationcare.com/avoid-bankruptcy.html

Please let us know if we can assist you further with any of your other queries.

Regards
Roxette