subject: Can Debt Consolidation Help My Credit? [print this page] Debt consolidation is the most worthless form ofdebt relief. The money you think you're saving will more than likely be paid back in the end. There is no overnight fix. You need to tackle your problems head-on with meaningful debt solutions. It may mean a little more out of your pocket now, but it'll also mean that you're not paying off debt, with zero borrowing power, for the next decade or two.