But does debt consolidation help or hurt your credit?The answer depends on how you consolidate — and what you do afterwards.Getting a new loan to pay off other debts is the most popular way to consolidate.It’s certainly what most people think of when they think of consolidation.
And the fact that many people do just that is why the action will temporarily cut your rating.
If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.
If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.
Debt consolidation won't address the real problems that may sink your credit rating!
SEARCH RATES: If you're considering a personal loan for debt consolidation, first check out the rates at