3 Responses to “Can I consolidate some credit card debt without harming my credit?”

1. saved_astronaut on November 30th, 2009 7:39 pm

   i’m currently checking out AA Fair Credit Foundation, recommended by my bank. they’re a non-profit org. but they don’t settle debt. they negoti8 w/ creditors 2 reduce interest ; any questions can b directed; 1-800-351-4195

2. Melinda M on December 1st, 2009 8:41 am

   Yes you can consolidate your credit debts by finding a financial institution in your area that will be willing to take the risk. Thats the hardest part…but you can talk to most banks/financial institutions depending on how far in debt you actually are.

   The crappy thing is, is that now you have to pay three different payments with three different interest rates which can quickly add up! Talk to your financial reps that you currently hold the credit cards from and usually if you are paying something they will work with you to relieve your debts as long as they are getting their money in a timely matter! Good luck!

3. Mia Jacob on December 7th, 2009 2:18 am

   Credit card debt consolidation can be a great way to start tackling your debt – whether it’s just lowering your rates, getting a better loan, or cutting your payments to get debt free faster.

   When you consolidate your debt, the FICO recalculates your lending risk for the current period. Debt Consolidation may adversely affect your credit rating for a short period. Anyway your score should also go up in the long run because most debt management programs teach you fiscal tips that will help you develop healthy money management habits. You will hopefully learn to consistently make on-time payments as well as keep your credit balances down to a manageable level. All of this will push your credit score upward over time.

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