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In fact, this is very far from the truth.
There is no law or anything else in a debt consolidation that prevents you from getting credit.
Moreover, by paying your repayments on time your credit score will be improved, another reason to discard such affirmation.
Debt consolidation is an excellent process for almost anybody who has poor credit for almost any reason.
Many think that it shows weakness, and an inability to pay off your debts the way they are, but this could not be farther from the truth.
Rather, many future creditors see this as a positive thing, that you were able to take control of your debt, and that you did something about it.
It even helps your credit score because you will just have fewer accounts open.
All of the major credit agencies lower your credit score for every line of credit that you have open, and of course closing all of those accounts is the main part of consolidation.
You only have to have a single line of credit open, improving your rating as a consequence.
There really is only a single part of debt consolidation that will lower your credit score.
This is the part that is best for you, as a debtor: that the consolidation agency will try to bargain with your creditors so that you don't have to pay as much.
These debts will show up on your credit report as settled, which indicates to future lenders that you were unable to pay the entire debt, and will hurt your credit score.
However, this is just in the short term span.
So, in essence, the answer is a resounding no.
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