This is a rather simply concept but there are certain facts about such a process that need to be understood. Namely, there will be an effect on a person’s credit if he or she takes part in a debt consolidation program. This statement may raise a panicked question: “Will debt consolidation ruin my credit score?” This is a valid question and it is important a clear and succinct answer is presented.Once again, it is important to point out that a debt consolidation loan will have an affect on the client’s credit rating. This is because negotiating down a debt shows that you did not and could not pay what you borrowed. So, it would make sense that your scoring would be lowered as a result. However, the use of the word ruin is a bit strong. It is also not a very accurate word either.The use of the word ruin infers that a credit rating will be lowered into the abyss. This may not occur since the result will be lowered from where the rating may currently stand. However, there will be a noticeable impact on it. But, it will not be ruined because ruined infers a sense of finality. That is, once is lowered it will forever remain so and will never be repaired. This is simply not the case. A low score can always be raised or improved depending upon the future credit history of the individual.By making sure that you do not get into excess debt once again and paying all your bills over time, you may be able to restore your credit to a positive rating. Actually, if you follow these steps it would be impossible for it to not improve.By the way, by researching and comparing the best debt consolidation companies in the market, you will be able to determine the one that meet your specific financial situation, plus the cheaper interest rates offered. Nonetheless, it is advisable going with a trusted and reputable debt counselor before making any decision, this way you will save time through specialized advise coming from a seasoned debt advisor and money by getting better results in a shorter span of time.