http://www.debtconsolidationcap.com/will-applying-for-and-receiving-a-debt-consolidation-loan-damage-my-credit.html Sat, 26 Sep 2009 12:53:09 -0600 http://wordpress.org/?v=2.8.5 hourly 1 http://www.debtconsolidationcap.com/will-applying-for-and-receiving-a-debt-consolidation-loan-damage-my-credit.html/comment-page-1#comment-322 Ed Atun Mon, 20 Apr 2009 04:24:01 +0000 http://www.debtconsolidationcap.com/will-applying-for-and-receiving-a-debt-consolidation-loan-damage-my-credit.html#comment-322 A debt-consolidation loan is just a fancy word for a "new" loan at the same banks you borrowed from before. It doesn't hurt your credit because the amount owed has not increased. A debt-consolidation "service" tries to charge you $1,000 to get lenders to reduce your debts. You make one payment each month to the "service" and they pay everyone you owe. This is an area of business which is 99% scammers so you need to avoid them. A debt-consolidation loan is just a fancy word for a "new" loan at the same banks you borrowed from before. It doesn't hurt your credit because the amount owed has not increased.
A debt-consolidation "service" tries to charge you $1,000 to get lenders to reduce your debts. You make one payment each month to the "service" and they pay everyone you owe. This is an area of business which is 99% scammers so you need to avoid them.

]]>