Regular Contributor
loviedovie
Posts: 206
Registered: ‎12-20-2012
Direct Consolidation Impact on lines of credit?

Hi!

Does anyone know if consolidating loans via direct consolidation will: 

A) remove all of the tradelines and replace them with one new one

B) make the average age of accounts only as old as the new one

 

I am wondering if these things will hurt my score..

 

OR- does it help because the other accounts show closed, paid. ??


Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740