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Is your balance on a consolidation loan calculated based on outstanding balances or revolving credit? |
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The balance on a consolidation loan is based on the outstanding balances of your debt, not on the total amount of your revolving credit lines.
First answer by ID1096311559. Last edit by ID1096311559. Question popularity: 88 [recommend question]
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Can a lender access outstanding credit balances? Is your balance on a consolidation loan calculate as outstanding balances on revolving credit?
