I have a furniture bill of 5,000 and another loan for 2,000 and credit card with a total balance of 3,000. I was wondering should, i just get a loan and consolidate my bills. I thought it may make my scores go up just paying on one bill.
If you won't be adding to your cc debt in the process, not only is it a good idea, adds another trade line. But your ability to get one depends on your DTI, your income, and your scores,
It would also be benefitial to get a loan instead if the new loan has a lower interest rate than all of those debts..It's definitely worth looking into in my opinion!
