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Lump Sum Payment & Student Loans
I have two high interest credit cards with roughly $4000 on each one. I have enough money now to pay them off completely. How much will it hurt my credit score to pay them off in one lump sum? Should I try to stretch it out over a few months? (I'd rather not keep paying this high interest, but I don't want to ruin my credit score)
Also, I have approx. $30,000 in student loans. I've heard horror stories about people consolidating their student loans and ruining their credit. Does consolidation really negatively impact the credit score?
Thanks for any help!!
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