Does consolidating student loans hurt your credit

09-Apr-2019 21:23 by 2 Comments

Does consolidating student loans hurt your credit - america sex webcam for free

Two weeks ago I wrote about the number of credit scores we all have.A reader named Grant commented on my post and asked a variety of questions about how student loans impact your scores and how best to deal with them.

last year total outstanding student loan debt surpassed credit card debt in the United States.

The real questions to be answered are: Why do you have such a large amount of credit card debt?

Have you started an emergency savings account of 6 to 12 months’ worth of living expenses, so you won’t have to use credit for unexpected expenses?

A credit score is derived from items reported in your credit file.

It uses a complex mathematical algorithm to come up with a score that predicts whether you are more or less likely to default on your next loan.

The content is broad in scope and does not consider your personal financial situation.

Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy.Those of you with student loans are collectively in over 0 billion of debt.And unlike credit card debt, most student loan debt will hang out with you until you pay it…or you die.I want you to concentrate on your overall financial health rather than on a score or rating.If your financial health is strong, the measures will reflect it.You need to understand how you got in that situation if you are going to avoid getting there again and again.

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