Consolidating debt affect credit score
With an average balance of ,400, student debt is a big part of the average college graduate's life.
At Lend EDU, we help borrowers compare the top student loan companies in one place.
For example, what if interest rates go up, or you fall ill or lose your job?
If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.
Late payments, medical bills and personal emergencies can all add to a mounting amount of debt.
There are two types of debt consolidation loan: Debt consolidation loans that are secured against your home are sometimes called homeowner loans.
You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.
If the requirements above sound good, we think that you are a great applicant for student loan refinancing and consolidation.
Each lender has its own specific underwriting criteria, so you may have a higher chance of approval at certain lenders.
"I tell you Doris, he was making $150,000 a year and had been working at the same place for a decade and they wouldn't approve his loan!