Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?

Tips and Deals Forums Debt Management Debt Management Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 8 years ago.

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    Anonymous

    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

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