So im in the loan application process of buying a house and im going through all of my debts and wondering if its worth it to consolidate all of my debt into 1 payment
i dont really have THAT much debt....only like $7k including whats left on student loans
is it even worth it? ive got a few high interest cards id like to pay off
littlepixie12
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Re: NWR- has anyone done debt consolidation?
For 7k I def wouldnt do it if I was you.. it does mess with your credit and stays on your credit history for up to 10 years, which may or may not affect you buying a house. For only 7k, I would take a little bit bigger bank loan and pay it off then
Juhgail
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Re: NWR- has anyone done debt consolidation?
Be VERY VERY careful if you do this. If you do it through a legit loan, GREAT.
DO NOT go to places that do debt consolidation!!!
VeggieBride
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Re: NWR- has anyone done debt consolidation?
yea thats what i figure....i think im just gonna stick it out and pay as much off a month as i can
im already in the middle of the mortgage app right now...i would have waited until after we're in the house but i doubt its worth it now....i dont want to affect my score
IrishBrideASmiling
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Re: NWR- has anyone done debt consolidation?
What I did was I took out a personal loan from the bank and had them pay off my credit cards. The loan interest was lower than the credit card interest and it made it easy to just pay the bank back one payment a month rather than 4 different credit card people.
I would definitely wait until after you go to closing with your house you dont want to risk anything with your mortgage.
