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debt consolidation loan?

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Anonymous
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debt consolidation loan?

I now qualify for a loan through credit union. should I take this out and pay off all the collection accounts and get credit cards to under 10% usuage? I could probably do this without loan by end of January

 

how will this look on credit scores?

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SouthJamaica
Mega Contributor

Re: debt consolidation loan?


@Anonymous wrote:

I now qualify for a loan through credit union. should I take this out and pay off all the collection accounts and get credit cards to under 10% usuage? I could probably do this without loan by end of January

 

how will this look on credit scores?


If you can do it without a loan, do it without a loan. That's my advice.

 

How would it look? You'd lose some points but you might gain some.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

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