A consolidation loan is simply treated as a personal or unsecured loan.
There should be no negative impact to your credit scoring, however, the exact impact would depend on the composition of your overall debt portfolio.
The fact that a large loan is issued in order to consolidate, means that a higher outstanding balance relative to total credit issued, may lower your scoring slightly from date of inception, but will gradually improve as you pay the loan.
However, if you were settling credit card debt, with high balances relative to their limits, the consolidation could actually improve scoring, especially if you are making use of payday loans to supplement your spending.
And lastly, a consolidation loan should not negatively impact your scoring to such a degree that you are declined for Home loan or vehicle financing.
Your overall credit scoring, payment history, affordability and value of the asset are all assessed in credit applications.
And provided these are in line with that credit providers lending requirements when applying for home loan or vehicle financing, you should have no problem qualifying regardless of the consolidation loan or not.
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