Originally Posted by Secretblend

There are two types of credit consolidation.

One is getting a loan to pay off other loans and just have one account. That kind is not the kind that hurts your credit rating.

The other is when a company speaks on your behalf and tries to get the creditors to lower their monthly amounts and then you pay that company one payment and they distribute to your creditors for you. That is the kind that will hurt your credit rating.