A debt consolidation green trust cash native american installment loans does affect your credit rating, both in a positive and a negative way. There is really just one thing in consolidation that can make your credit go down. This is the fact that many plans that debt consolidation companies make for their clients involves "settling" the debts. Settling a debt means that they bargain with your creditor to find a way so that you only have to pay a fraction of what you would have had to pay otherwise. Unfortunately, if they succeed and you don't have to pay as much as otherwise, this shows up on your credit report as a settled debt, which any future creditor could take to mean that you were unable to pay. However, this will vanish from your credit report in a short time, and is not permanent.

Otherwise, debt consolidation can have only positive effects on your credit report. First and foremost, your debt will be reduced and possibly eliminated through it. Also, you will eliminate any other lines of credit, if you choose to do so, which alone can have a positive effect on your credit score. You even will get a huge amount of assistance for bettering your credit score in ways beyond debt because most debt consolidation companies give out free assistance and counseling services.

Beyond what is mentioned above, your credit score will not really change. The single biggest factor will remain completely stable: your debt to income ratio, as you are just consolidating in the beginning. Furthermore, even if the company chooses to settle your debts, your credit score won't take too much of a beating, as everything else will help it out. It should at least be a wash for your credit score, if it doesn't improve.

By the way, by researching and comparing the best debt consolidation companies in the market, you will be able to determine the one that meet your specific financial situation, plus the cheaper interest rates offered. Nonetheless, it is advisable going with a trusted and reputable debt counselor before making any decision, this way you will save time through specialized advise coming from a seasoned debt advisor and money by getting better results in a shorter span of time.

Hector Milla runs the Best Debt Consolidation Company website - where you can see his best rated debt consolidation company recommendation.

Visit for further information and read our full review of the best debt consolidation service, plus articles and video training about how to get the most of your debt consolidation process.

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