Debt consolidation is a great way to improve your credit score in the long run. Combining several debt balances into a single loan can help you pay off your debts more quickly and efficiently. However, it's important to note that you may experience a temporary dip in your credit score when you first consolidate your debt. This is normal and should not be a cause for concern, as long as you make all of your payments on time and don't accumulate any more debt.
With responsible use of debt consolidation, you can improve your credit score over time.
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