Debts that accumulate from unsettled loans and late bills are a common phenomenon among many people. If you are struggling with debt problems, then may it is about time you adopted a debt consolidation program to free you out of that stressful burden. Many people out there have already cleared their debts using this extremely organized debt relief method, but there are many more that are reluctant to adopt debt amalgamation. Some of them fear that it may affect their credit scores in a negative way.Debt consolidation has the ability to affect your credit. The effect can be positive or negative depending on how good you are at managing your finances. When this debt relief option was developed, the aim was to help people get rid of their debts without affecting their other financial tools, and these include credit cards. If you consolidate your debts and pay for them fully, then you will not have to worry about your credit being hurt. When you take a loan from a bank to pay off the debts, your creditor will deduct a few points from your credit score. No more than 5 to 7 points can be deducted from your credit. This will have very minimal effects on your credit scores.Opting for debt consolidation when you have good credit is better than if you are on bad credit. This does not imply that you cannot get a loan to pay off your debts if you have bad credit, but the situation might increase your risk of harming your credit score is greater. There is a way that you can keep your credit score safe, and this is by proper management of your finances. Do not let your debts pile up to unmanageable proportions because this will only tempt you to get out by applying for bankruptcy. Once you are declared bankrupt, your credit history is as good as ruined. But if you keep your debts to the minimum, you will have no problem consolidating and paying them off. This will definitely not have any negative effect on your credit score.Summing up, if you want to get your finance back in order, debt consolidation is undoubtedly your best option, while it hits your scores at the very beginning of the process, by paying on time you will get your credit rating improved in the shortest span of time any debt relief program can offer you.