I’m thinking of entering a debt consolidation program. Is there any point to starting credit repair now, or should I wait?
Unless your debt consolidation is limited to a small number of your accounts you should wait until your debt consolidation program is completed.
The Benefit of Starting Now
If your debt consolidation is limited in scope you could start your credit repair now. Your debt consolidation program is likely to generate reporting errors and late payments on the included accounts. This means that your credit will probably suffer while you are repaying your consolidated debt. But this does not mean that there is no benefit from credit repair. In fact, it is always advisable to isolate the derogatory information on your credit report. Cleaning up everything surrounding your debt consolidation accounts is very smart. Your credit report will look better, and your scores will be higher and improve more quickly once your debt consolidation program is completed.
If you have questions about the benefit of credit repair in your situation please feel free to contact us. We will be happy to review your reports, discuss your pending debt consolidation, and let you know if the time is right for credit repair.