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When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will be huge. QUESTION: Does It lower the credit score to have a huge debt ratio like this?
OTHER QUESTION: and you also want to have say, 3 credit cards, (3 of them is the number you want to have a good credit profile, right), then the debt consolidation companies close your credit cards or do they not? How does it work

3 Thoughts on Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?
  1. Reply
    oncameratalent
    July 14, 2011 at 9:34 am

    You can find the answers to your questions here:

    http://fixingyourcredit.blogspot.com

    ____________

  2. Reply
    Simon D
    July 14, 2011 at 10:11 am

    No it will never leave you with a huge debt ratio.

    Just check it out on http://www.ezconsolidation.com/

  3. Reply
    Bernard
    July 14, 2011 at 10:20 am

    Don’t go for debt consolidation!!!! it’s like declaring bankruptcy!!!!

    Check this out : Free 7 day plan to help you earn extra money to pay off your debts!

    http://www.clear-credit-card-debt.com

    Be DEBT FREE and pay off your debts i no time!

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