The disadvantages of debt consolidation include the requirement of a good to excellent credit score of 670 or higher, a temporary decrease in credit score due to the application process, and the potential for upfront fees to make the loan costlier than the original debt payments.

Authors

• Person: Not available Organization: Bankrate
  A Comprehensive Guide To Debt Relief Programs | Bankrate

Sources

• A Comprehensive Guide To Debt Relief Programs | Bankrate www.bankrate.com Bankrate via serper

Referenced by nodes (1)

• debt consolidation concept