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Debt consolidation help is available in 2019, but you need to understand the different ways you can consolidate. Credit card debt can be consolidated into a single payment by using a loan, or by using debt relief programs.

Before you go applying for debt consolidation help, it’s essential to understand how good and bad credit plays a role in determining your best consolidation option. The worst-case scenario is if you apply for debt consolidation help today, and within a year can’t afford to pay off the loan, defaulting on it and eventually getting forced to file for bankruptcy. This scenario happens every single day to consumers, due to unscrupulous lenders who only care about making a quick buck. Read the following page and your financial future will stay protected because you’ll be educated on your options and be able to make an informed decision on how to get out of debt.

First off, just because your credit score may be 700+, there are other factors that lenders consider when approving someone for a low-interest loan. Let’s take a look.

Good credit? 

What does “good credit” even mean?


good credit – debt consolidation
Breakdown of how your FICO credit score is calculated. Credit: Experian


“Nearly 57% of Americans have a FICO score of 700 or higher, ” but even with a credit score of 700 or higher, half of these folks could not obtain a loan with an interest rate of less than 10%. The reason why is because their debt-to-income ratio is too high, amongst other factors.

Here are a few more factors that lenders consider when qualifying an applicant for a debt consolidation loan.

how each factor can affect your credit score

When taking all of these factors into consideration, how’s your credit? Do you have good – excellent credit scores, and low balances on all of your credit cards? Consolidation could be the right option for you. Or, is your credit score suffering and you’d like to consider a debt relief program? Contact one of our IAPDA certified counselors today for a free consultation at (866) 376-9846.

What % of Americans have maxed out credit cards?

More than 50% of Americans have maxed out credit cards, according to a recent article in Forbes, and high balances can hurt a person’s credit utilization ratio. As shown in the image above, credit card usage (also known as credit utilization ratio) has a high impact on a person’s credit score.

Consolidation loans can be used to consolidate both secured and unsecured debt. However,  top-notch credit is required to qualify for a low-interest loan. To qualify for a low-interest loan a person’s credit utilization ratio must be below 50% and credit scores must be above 670–700. Golden Financial Services does not offer loans, but we research all financial products and this is what we’ve discovered.

Debt consolidation help at

Bad credit? Consolidating your debt with bad credit can be achieved by using a debt relief program, but this is not a loan. If a person’s credit score is under 675, in many cases they are better off using a debt relief program. Check out the Louisiana debt relief program as an example of how these programs work. You can also contact one of our IAPDA certified counselors to learn about debt relief programs in your state at (866) 376-9846.

Whatever you do, don’t apply for a high-interest loan through some ripoff lender online, because high-interest loans will only put you deeper in debt.

Below we will explain the different ways to consolidate debt whether you have bad, excellent, OK or good credit. Consolidation options include bill consolidation, debt settlement, debt validation, and consumer credit counseling. Know the difference in each!

Debt Relief Programs VS. Bill Consolidation Loans

best debt consolidation help and learn how debt consolidation works

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How to Get Debt Consolidation Help?

You can contact a 501(c) non-profit consumer credit counseling company if you need help with consolidating credit cards into a single payment with a lower interest rate, without using a loan. To qualify for this type of program you must be able to comfortably afford to pay minimum payments or higher and cannot be more than 1-2 months behind on payments.

Debt Relief Programs are available at Golden Financial Services, an A+ BBB rated company that was just voted #1 in the nation for its programs. If you are looking for the lowest possible payment and to pay off your debt in the quickest possible time-frame, Golden Financial Services can help. Choose from debt settlement or validation plans.

Debt consolidation loans can be obtained through a local credit union (best case scenario). Don’t use a lender that charges you high-interest rates if you are seeking a loan because that’s only going to make your debt problem worse. Online, you’ll find many lenders that promise you a loan within 24 hours, but if your credit score is under 700, be very careful going this route. Maybe you have bad credit due to your income being low in the past, but now your job is stable and income is higher. In this case, you could use a loan to consolidate your high-interest debt and help you improve your credit score at the same time. Some consumers even turn to a home-equity line of credit in this case.

You don’t need a loan or a debt relief program to get out of debt faster. You can create a free budget analysis here, and use a do-it-yourself option like the debt snowball route here.

You can also read this blog post on the 10 Best Ways Used in 2019 to Quickly Clear High Credit Card Balances.

Call Golden Financial Services for debt consolidation help and free information at (866) 376-9846.

Counselors at Golden Financial Services are IAPDA Certified and have the experience to guide you in the right direction.

Does consolidating debt help credit?

Credit scores can improve by paying off high debt with a loan, as long as you keep any revolving accounts, like credit cards, open after paying them off. Debt relief programs can cause a person’s credit score to decline because a person must fall behind on payments before these programs can be effective. Debt validation plans include credit restoration, which can help if accounts are proven to be legally uncollectible (and invalid).

How could a debt get proven invalid?

Collection agencies often can’t prove a debt is valid because they’re:

  • missing paperwork
  • maintaining inaccurate information
  • charging unauthorized fees
  • collecting debt without a license

For more information on how to consolidate debt, help and free information is available at (866) 376-9846.

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