When you consolidate debt, does it show on your credit report?
Answer:
YES, i will show
I believe it does in some way. Probably in a favorable way because it indicates to the powers that be your management and downsizing, if you will of your debts owed.
Yep.because it shows up as a new loan, and all the other accounts will have been closed at the same time as the new loan was opened.
It's not nessarily a bad thing though..because it shows that you are taking steps to manage your debt properly.
no not really it just will show your existing balance were paid off the same time you received the loan, any mortgage broker can put 2 and 2 together but it will not affect you negatively
It depends how you do it. If you refianance a mortgage or consolidate a student loan it shows everything as paid in full. If you go through credit counseling it shows as a charge off.
They told me no,but the sad thing is yes,it will show on your report really bad.
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: