Q: Once I complete a debt consolidation program, will my credit score improve?

A: Your credit score is a composite of many factors, but generally, paying off a debt consolidation loan will be good for your credit. A history of on-time payments is one of the major factors influencing credit scores, but it cannot be stated with 100% certainty that your credit score will be improved. It is possible you will have taken on other debts, requested more credit, or incurred other credit-related blemishes at the same time you've been working to pay off your debt consolidation loan, all of which could be harmful enough to your credit score to negate the good work you would have done.

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Please Note: Unsecured debts are debts such as credit cards, personal loans, lines of credit, store cards, medical bills, and utility bills that are not secured by collateral. Mortgages and car loans are NOT considered unsecured debt.
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