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08 Jun

If handled correctly, debt consolidation can bring financial freedom by relieving the weight of overwhelming debt, but debt consolidation can also affect your credit score.

The end result is impossible to gauge ahead of time – as it depends on multiple factors, including the extent of your credit history, the accounts you have open, and the actions you take after consolidation.

After all, debt consolidation merely makes your debt easier to deal with; it doesn’t reduce what you owe or address the underlying issues that caused you to get into debt in the first place.

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When Norm Bour was 24, credit was so hard to come by he couldn't get a gas station company credit card without begging.

While it's important for you to get a handle on your debt, how you go about it is just as important.