subject: Debt Consolidation Impact On Credit Score – Tips To Improve Your Credit Rating [print this page] Debt Consolidation Impact On Credit Score Tips To Improve Your Credit Rating
The longer you hide from your debt, the worse the consequences will be and over time you may find your credit score plummeting to all-time lows.
For this reason, you may want to consider debt consolidation as a means by which to stop the downward spiral of your credit score and get yourself back on track toward achieving a healthy credit score.
Aurora Lillo Editor of the "Best Debt Consolidation Companies" website -- http://www.BestDebtConsolidationCompanies.net -- pointed out;
"...Much like how a medic rushes in to save the day when an individual is bleeding profusely, a consolidation company can employ a simple three-pronged plan to stop the "bleeding" and get you on the road toward full financial recovery..."
Stop the Bleeding
A tourniquet is a common piece of medical equipment used to stop bleeding. A debt consolidation loan serves as a financial tourniquet that works to "stop the bleeding" of your sliding credit score by giving you a loan with which to repay all of your creditors at one time. There is no need to feel despair if you are not able to find the funds needed to get your creditors off your back. Simply contact a debt consolidation company and you will be provided with all the funds you need to stop the harassing phone calls and mailers immediately.
Dress the Wounds
Once you have acquired the funds you need to move towards paying off your creditors, you should address the situation head on. Have your consolidation company "dress the wounds" of your financial situation by negotiating lower, lump sum payments to close your account in full. Many creditors are willing to reduce your total amount owed by up to 60% if you are willing to pay them in one lump sum. You can minimize the financial damage caused by your financial mistakes a great deal by negotiating your payoff with the leverage a consolidation loan provides.
Begin Healing
Once you have secured a loan and paid off all your creditors, you can breath a sigh of relief and set yourself to the task of healing. You can repay your debt consolidation loan by way of a monthly payment that fits in with your budget. Every time you make your monthly payment on time, you will be making another positive impression on credit reporting agencies. Within a short period, you will begin to see your credit score improving.
"...Debt consolidation really can help you to improve your credit score by stopping your downward spiral, getting the creditors off your back and setting up a positive, healthy repayment plan..." added A. Lillo.
Further information about trusted and reputable companies for debt consolidation by visiting; http://www.BestDebtConsolidationCompanies.net
