christian dating promise ring - Does consolidating loans hurt credit

does consolidating loans hurt credit-7

When consolidating student loans, a number of factors credit score variables are modified.

Most of these changes improve a borrower’s creditworthiness according to the credit bureaus.

When consolidating or refinancing the old loans are paid in full.

This means that those lines of credit are marked as closed.

Too many credit inquiries can be viewed as a sign that a borrower is experiencing a financial hardship and is therefore more of a credit risk.