Does consolidating student loans help credit score dating a divorced man with two kids

Posted by / 01-Feb-2017 04:49

Does consolidating student loans help credit score

Mortgages are sometimes referred to as “good” debt, while credit cards tend to be referred to as “bad” debt because of the high interest rates and large amount of fees attached. Whichever opinion you side with, car loans are still considered consumer debt, but they’re in a category all their own.

Applying — and getting approved — for a credit card is a very simple process, but getting approved for a car loan is a bit more difficult.

Whether you’re looking to refinance federal student loans, pay off loans sooner, or get a lower monthly payment (maybe all three), we offer a range of rates and terms.

When you consolidate multiple student loans or refinance a single student loan, you may receive a lower monthly payment with a reduced interest rate or an extended repayment term.

One reason for this is that the credit reporting agencies each collect and report information independently and they may not have the same credit information about you.

For example, a collection account may show up on one credit report and not another.

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These financial institutions work with Lend Key to keep operating costs low, and pass on the savings directly to you.