Debt consolidation requires the fulfillment of the new loan requirements, terms and conditions on the part of the borrower. This means that missing the payment due you can damage your credit score. The late payments have the same effect.
Taking out a new loan for covering the old ones means that you are ready to change your financial situation. That is why you need to take responsibility over the new obligations.
Moreover, debt consolidation may require closing all the credit cards you have. This can result in negative impact on your utilization ratio, due to the fact that credit cards create the longest payment history.
Thus, you should not close your credit cards to have a possibility to rebuild your credit history in the future.
Choosing debt consolidation is a responsible financial solution. That is why you need to take all the important aspects into consideration and be in charge of your assets in future.
Not to damage your credit score you should only manage your new loan in a proper way. So, the final result depends entirely on you and your financial decisions.
Read the provided debt problems guide to be sure that debt consolidation is the right decision for you.