Will my credit score recover after debt consolidation and closing cards?

Has anyone here ever gone through debt consolidation? Closing all your credit cards is so tough How long did it take for your score to recover? I’m really thinking about it... I feel like I’m drowning in debt. I’m not looking for side hustles—I’m already doing overtime at my job but they cut my hours. I can’t get approved for a balance transfer either. I’m torn between sticking it out and trying to pay things down or just consolidating. It feels so overwhelming to think about all my credit lines closing, especially when I’m hoping to buy a house in 2024. I’ll probably just stick it out, but I wanted to see if anyone else has been in a similar situation.

You could try going to the group's main page. Type debt consolidation into the search bar. This is a great way to see what other members have shared about their experiences.

I’d like some practical advice. My husband’s income can be inconsistent, and it’s been lower recently, especially during the holidays. We’ve actually increased our debt while trying t pay it down we’d put extra toward bills, then need to use credit again to cover essentials. My husband earns well, so this year we’re prioritizing saving more and paying down one debt at a time. We’ve also cut back significantly on spending and eating out. Any straightforward tips would be really helpful.

I should note that we have five children. I homeschool them and stay home full time, aside from occasionally helping my mom with house cleaning for extra income.

Cut them up. Don't get new ones. Keep paying them off. Don't close them if buying a house in the next year. You need long credit history. It shows you're worthy.

Whoa, you won't believe this I paid off all my credit cards a couple of years back, and bam! My credit score shot up a whopping 80 points in just a few months!

Hey, we snagged a loan at a super low rate to wipe out all those high interest cards. It was a nice move, too, because now we’ve got just ONE payment to keep track of instead of a bunch. The payment is still pretty big, but it’s actually smaller than what all our minimums added up to before, and with the lower interest, we can finally start chipping away at the balance for real.