"20 Things You Must Know Before Debt Consolidation"

When doing debt consolidation, what is the importance of your credit report?

Your credit report is a measurement of your credit worthiness. Since many consumers are attempting to consolidate debt through debt consolidation loans, your credit score is a part of what determines what type of loans you can qualify for.

Credit scores range from 300 to 850 (850 being high). The higher your credit score, the more “credit worthy� you are as far as the lender’s perspective.

There are many institutions that offer a free credit report when you sign up for certain monthly services- so be very cautious and aware of this before you sign up for any services to obtain a free credit report. By law you have one credit report per year available to you.

To avoid any costs, you can visit to FTC (Federal Trade Commission) website to get your free credit report. They provide links to obtain your annual free credit report.

There are also many other resources available to you free of charge at the FTC website. The FTC is a government website that is available to protect consumers. When you search their site, you will also see bankruptcy advice, and many other resources to help you journey down the road of becoming debt free.

Your credit score is a vital first step when approaching wiping out debt-- whether you're doing debt consolidation on your own, or through a third party. The best way to approach debt consolidation is by becoming well informed of your current financial snapshot- and your credit score is a detailed report that gives a snapshot of all your current debts (and past debts).

For more information, you can request your free e-book, "20 Things You Absolutely Need to Know Before Debt Consolidation" by visiting our resource box below.

Ardy Skinner is the author of "The Lavish Cheapskate-Everyday Strategies to Free up Money and Recession Proof Your Life. To get a copy of your free ebook, "20 things You Absolutely Need to Know Before Debt Consolidation," go to www.lavishcheapskatesecrets.com