How to Consolidate Debt Without Hurting Your Credit?
Debt Consolidation is a popular strategy to battle unmanageable debt and is now becoming one of the best options for Canadians. By consolidating your debt, you can reduce the debt by up to 75% of the original amount.
However, it can also hurt your credit score temporarily. Read this article to know how to minimize the effect of debt consolidation on your credit score.
 How Debt Consolidation Works
It is a process of merging all unsecured debt into a single monthly payment. A debt relief provider like National Debt Relief Services can help you negotiate the best deal with your creditors on your behalf.
 How It Will Impact Your Credit Score
During the duration of the program, your credit rating will be âR7â. This means that you are currently on a debt consolidation program and will remain in your credit score up to another 3 years after completing the program. This means it will serve as a credit rebuilding program. After you paid all your debt, youâll have the chance to rebuild your credit and start fresh.
Is Debt Consolidation the Right Option for You?
If you have over $10,000 worth of unsecured debt including Credit Cards, Personal Loans, Car Loans, Taxes, CERB, HST, 407, Household Bills, Payday Loans, and Student Loan.
With the help of Debt Consolidation, it will be easier for you to keep track of your debt repayments as you will only need to pay one debt every month at a lower amount. It will also stop wage garnishment, interest, and collection calls from creditors.
 Best Debt Consolidation Company
At National Debt Relief Services, you get free consultation without any obligation or commitments. Our super friendly debt specialists will help you create a personalized debt relief program based on your current financial condition.
We have hundreds of 5-star Google reviews. You can read our client reviews at this link. We also donate $1 to Sick Kids in Ontario for every successful consultation.