consolidating debt makes your score low?

[Anonymous]

if you are applying to consolidate debt is that makes your score reduce or low? i was just wonderin.

[Tuscani]

What kind of debt are you consolidating? And how are you consolidating it?

[Anonymous]

I want to pay off all my debt but no bank company will approve my loan like personal loan they deny it because of my credit score. Im consolidating some of my credit card debt.  I dont have a mortgage and auto loan. I have loan in the bank but my husband is my co-signer. I dont know what is the other idea for getting a loan. i need advice.

[Tuscani]

How much debt? What are your scores?

[Anonymous]

my debt is 12k merchant credit and credit cards. i have my loan in a bank its a car loan but my husband was my co signer. He got a bad credit because he file bankruptcy so Im looking forward to take care of my credit but im tired of the fees that they always charge me. Thats why Im thinking about paying them all. Im scared to try applying online and then I dont know my FICO score. I havent check it yet. help me give me advice. thanks

[Tuscani]

You should never apply for credit without knowing your scores. That is your next step.

[Anonymous]

yeah i know that was my mistakes lessons learned. I will check it next time. i wasnt really aware of this before coz I didnt know it. Now I know how important it is.