Posts: 9,472
Registered: ‎12-30-2011
Re: Anyone know any cards or things to due for someone who consolidated there credit?

quarius wrote:

I know someone who just consolidated all there credit and there score droped 200 points from like 700 something to 500 something, and they r pretty upset after they saw the score. What can i tell them to do? I don't really know any advice to give them for this but i do know that they didn't realize it would be this significant. They have never missed a payment and always had good scores.  R they pretty much starter now all over again?

Honestly that doesn't sound right; what specificaly did he do and what's on the reports now?  Did he go through some Debt Management Program, as that's a pretty big negative in it's own right when reported is my understanding of it.


Without the actual report data, it's hard for us to make a call either way, but a drop of 200 points is almost certainly a negative of some sort.


Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)

Take the myFICO Fitness Challenge