My scores are in the 690's. I have substantial inc...

My scores are in the 690's. I have substantial income and absolutely NO derogatory remarks on my credit or credit history-was NOT approved for a debt consolidation loan. They then told me that my other option was to do debt consolidation with them under two conditions-pay on time and close my credit lines.

ABSOLUTELY NOT! Closing credit lines has a negative adverse affect on your credit bc you are no longer contributing to your payment history, availability of credit, and cutting your credit history length. The last thing I would want to do is hurt my credit when I'm trying to pay off the revolving debt to further boost my scores. I denied them immediately.

You are better off negotiating interest rates with your creditors based on customer loyalty, and really applying self-discipline to continue paying off the debt.