Consolidating SL's, will it help?

Anonymous · ‎04-30-2008

I have 4 SL's on my report that are in deferment. I was wondering if I called to ask them consolidate them would that help? The reason I ask is because Myfico says I have too many accts with balances on them. I have 2 CC's and 1 installment loan with bal on them.

Are these 4 SL's contributing to my red flag? Will it be better if it were 2?

Anonymous · ‎04-30-2008

This actually won't help that flag-

As you will have just as high of a number of accounts w/ balances/Open accounts.

You are better off paying off a few more of your credit accounts,

Anonymous · ‎04-30-2008

I have 10 open accts tho. oh well I will leave it alone.

I ant to keep the installment for mix and the other 2 CC's are BT's that I am not planning on paying off anytime soon.

I guess I would only have one 2 less accts.