If you use a debt consolidation program or company to lower your monthly payments does this affect your credit?

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I was interested in doing this; I asked random creditors first what the effect would be on obtaining future credit. They advised that it was better than bankruptcy by far, but that it told creditors that you had trouble managing your finances and you were a poor credit risk.

When i was in debt I came across one company which helped me out to reduce my debt to 60%.

It offered a variety of Christian consolidation programs and information for federal and private student loans also. Loan consolidation is a method for reducing student debt, credit card debt and loan payments. Consolidate your debt and reduce your monthly payments.

First answer by anonymous. Last edit by Sdresh. Contributor trust: 417 [recommend contributor]. Question popularity: 160 [recommend question]

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