Debt consolidation can cause a small decrease in a borrower's credit score due to the hard inquiry required for the new loan, but consistent on-time payments can improve the score over time.

Authors

• Person: Not available Organization: Valley Credit Union
  Debt Consolidation vs Debt Management: Which Is Right for You?

Sources

• Debt Consolidation vs Debt Management: Which Is Right for You? www.valleycu.org Valley Credit Union via serper

Referenced by nodes (1)

• debt consolidation concept