does debt consolidation hurt your credit

Not exactly, instead it helps in managing your debts in a better way. The debt consolidation company will negotiate with your lenders for better terms of loan repayment. You are then required to make single payment to the consolidating company and thus can save yourself form juggling with multiple loans.

However, the consultant may ask you to dispose off some of your credit cards, so that you don't accumulate further loans during the process.

Debt consolidation is possibly the safest way to pay off your bad debts without hurting your credit score much.

Hope the input helps.

The debt consolidation may affect your credit adversely as you may have to close some or all of your credit accounts. But the impact lasts for a very short period, normally for the time you are consolidating your loans. But as you????????ll be deterred form gathering further credit, your debt-income ratio will improve and so your credit score.

However, you may wish to try out your options before deciding for one. Also, choose a debt consolidation company that is listed with the BBB.

Consider signing up for the free consultation that's available through this site.

May be but your credit will be good as long as you pay your debts.

I have articles on Free Your Debts, Ways to avoid bankruptcy. Get advice from debt consolidation or debt settlement. Will it affect my Credit Score / FICO Score? More Information on link deleted as per forum rules - Jason