Maintaining a strong credit rating is important, but can be virtually impossible if you are struggling with too many financial obligations. Many people are concerned that debt consolidation may affect their credit rating adversley.
Even if you have been able to maintain a good payment history, too many credit cards and open accounts can have a significant negative effect on your credit score. Debt consolidation can help reduce the unnecessary accounts, which will, initially, reduce your credit score; but then rebound as the amount of money owed decreases.
Juggling many debts and risking missing a payment; or consolidating your debts into one manageable amount - which would you choose?
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