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What does debt consolidation do to your credit score in Canada?

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  • What does debt consolidation do to your credit score in Canada?

When you consolidate debt, your credit score will likely drop at first. But over the long run, debt consolidation can be the best thing for your credit score, as long as you use it to pay off debt. If you can successfully pay off your new loan, your credit score will rebound, making debt consolidation a smart decision.

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