Answering the question, "How does debt consolidation affect my credit?
" depends on which debt consolidation strategy you use.
Vantage Score is a new company, and is used more often by Web sites and others offering free credit scores.
Pick credit counseling if it is imperative for you to keep a high credit score.
If you do not plan to apply for any new lines of credit in the next few years, then the effects of bankruptcy and debt settlement can be reversed by focusing your energy on paying your other accounts on time.
Vantage Score has not released similar information.
How long does it take to recover from a bankruptcy? says that varies with how high a person wants their credit score to go.Different debt consolidation strategies result in different impacts on your credit score.