Posted by Bruce Lawson on May 19, 2002 at 19:13:45:
Hi FrHouston,
Yes Debt consolidation will look bad to a lender, you will show stronger to a lender if you make your own arrangements to negotiate a lesser balance. If you use a debt negotiation service it will send a message to the lender you are attempting to borrow money from that you are a poor manager of your money. I would ask the lender how they would look at that siuation then make your decision.
Sincerely,
Bruce Lawson