Re: Anyone know any cards or things to due for someone who consolidat
ed there credit?
09-30-2012 09:24 AM
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.
Yes they went threw some debt management program, not sure all the full details of this but they got a letter stateing the 200 point drop.
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