How does consolidating credit debt effect a credit rating?
My credit rating is probably better than the average as I pay all my credit bills on time, but I’d like to consolidate all the debt for a lower interest rate, with an eye on paying it all off faster. Would it be better to pay off the balances individually than to consolidate? How will zero credit card balances effect my credit rating? Any suggestions, and any recommended books, would be appreciated. Thank you! A: Consolidating debt is an ideal way to reduce your amount and tenure of debt. You make a single payment to one lender on a certain date and this will help you clear off the debts faster. I would recommend you to visit this site for more info about consolidating debt: http://www.debt-explained.com/category/Ways-to-Consolidate-Debt.
