Will Consolidating my student loans help my credit score?

Answers:1   |   LastUpdateAt:2012-10-27 04:01:02  

Question
krytstal
Asked at 2012-09-25 04:19:02
I was 6 student loans amount to a total of $ 20,000 from two different companies . My mistake was that I put them in forebarence time I was late about 2 months. One company that cleaned my credit , the other showed that I was late. I decided to consolidate my loans with the company that cleaned my credit. My question is does this help my credit because the company that was the delay in the payment of the loans have been paid and the other I will be current on all my payments ? Thanks for the help .
Answer1voytekAnswered at 2012-10-27 03:59:42
delinquent accounts that still have a balance are the most damaging to your credit . that will remain categorized as " bad debt credit lines ." if you can get reports as a zero balance , then your score will improve . each passing month and put the countdown , your score will improve. and after seven years , will be gone completely. If you do not pay , trade in crime will be there by the time it takes to return the account , and add seven years to the date of its worth . start the clock sooner than later . MedlinePlus MedlinePlus So, yes , I would say that the consolidation of these would be helpful to increase your score . also probably be able to get a lower payment itself by consolidating boards .
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