Congratulations to you for being concerned about the state of your credit, but keep your focus on the problem at hand: how to pay off your overwhelming debt. If you are at the point where you need help from a credit consolidation agency or a company that proposes to "settle" your debts for you, chances are that your credit already has been damaged. If you have missed or been late with some bill payments, that information has been reported to the three credit bureaus. So your main concern should focus on how to stop the damage to your credit and begin to pay off your debt.