how does debt consolidation affect a persons credit report/credit score?

Hi Jenaz, debt consolidation is not going to hurt your credit. It will be good for you in the long run. Presently, if you are thinking about consolidating your debts into one monthly payment, maybe it is because of the high interest rates you are unable to pay or your accounts are in defaults. If you leave your accounts unpaid, your credit will get hurt. Pay them through the consolidation plan. Your future lenders will understand that you took your responsibility of paying the debts, maybe through professional help. This program will be in your file as long as you are enrolled in it. When all the debts are paid off, the credit scores will rise higher.