WHAT EXACTLY HAPPENS TO YOUR CREDIT IF YOU DO DEBT CONSOLIDATION?

I have $7,000 in debt as well as we have listened about debt consolidation. Does this negatively start your credit rating? Do we get to select how most we compensate monthly or is there the set volume they have we pay? we live in Canada, if which matters.

Related posts:

1. WHERE CAN I FIND A PERSONAL DEBT CONSOLIDATION LOAN FOR PEOPLE WITH BAD CREDIT?
2. HOW CAN I GET DEBT CONSOLIDATION WITH HOSPITAL BILLS AND NON CREDIT CARD DEBT?
3. DOES DEBT CONSOLIDATION WORK AND HELP IMPROVE YOUR CREDIT SCORE?
4. THE ROLE OF CREDIT COUNSELING IN DEBT CONSOLIDATION
5. SHOULD YOU JOIN A CREDIT CARD DEBT CONSOLIDATION PROGRAM?