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Reviews for Consolidated Credit | 2019 Debt Relief Reviews

Consolidated Credit

Consolidated Credit negotiates with your creditors to get you a lower interest rate. Available in all states; great for credit card debt.

Our Score
9.1
User Score
9.3

Call For Free Consultation:  1-(888) 538-4192

Our Score
9.1
User Score
9.3
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

Up to $79

Setup & Activation Fee

$0-$49

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

436

This Review is maintained by Chase Sagum

Review Last Updated: June 16, 2020

For over 25 years, Consolidated Credit has helped more than 6.5 million people with debt relief and consolidated over $7.8 billion of debt. With debt consolidation, people can make one monthly payment (instead of paying each creditor) each month at a potentially lower interest rate than what they are currently paying. Debt management services provided by Consolidated Credit are available nationwide.

The average Consolidated Credit customer experiences the following:

  • Positive to no impact on credit score
  • Reduced monthly payments by 30-50%
  • Reduced credit card interest rate to 0-11%
  • Av. $40/month fee to Consolidated Credit
  • No debt consolidation loan

 

Pros

Positive Consolidated Credit Reviews

Want to know if Consolidated Credit is good? The best way to tell is by reading reviews from real customers. The most common word used to describe Consolidated Credit is “helpful”. When you sign up for debt consolidation, you want to work with a company that is understanding, friendly, and takes time to answer your questions about the process of becoming debt free. The reviews of Consolidated Credit say these exact things and rate them 9.4 out of 10. Not only are the Consolidated Credit reps understanding and helpful, but they are also certified credit counselors. The company has ISO and AICCCA certificates.

Many reviewers are also happy with the time it takes to pay off their debts and how effective their finance management program was.

Debt Consolidation With Low-Interest Rates

Before you sign up for debt consolidation with Consolidated Credit, you’ll want to make sure that debt consolidation is the right path for you. The company offers a free 30-60 minutes consultation to access each individual’s situation. With your permission, they will do a soft pull on your credit score (meaning it will not affect your credit score).

Debt consolidation is when all your (unsecured) debts are combined into one monthly payment, usually at a lower interest rate. If you choose to work with Consolidated Credit, they will reach out to each of your creditors to see if a lower interest rate can be negotiated. The company claims that they can negotiate credit card interest rates to 0-11%. (Debt settlement plans negotiate overall amounts owed). So while you will need to pay back the money you owe, you can do so with less interest building up, and only make one payment a month (Consolidated Credit will disperse the money to each of your creditors).

Consolidated Credit has relationships with over 1,500 major banks and retailers, meaning they know how to talk to them and lower interest rates. Some of the companies the work with include: Bank of America, American Express, Chase, Citi, Discover, Capital One, Wells Fargo, USAA, Synchrony Financial, and Nordstrom.

Extensive Debt Management Resources

Consolidated Credit has an organized online dashboard available for account holders. Customers are given a login and track the progress of their debt management program 24/7.

During your free consultation with Consolidated Credit, they will determine if debt consolidation is right for you. If it’s not, they may suggest another debt relief path that they can help with:

  • Debt management
  • Credit counseling
  • Credit card debt advice
  • Personal financial

The company also has an entire specialized section of services for financial problems associated with housing. The housing services they offer consumers include foreclosure prevention counseling, mortgage payment assistance, reverse mortgage counseling, and homebuyer education and counseling.

In addition, Consolidated Credit offers online seminars about housing, and the company’s Housing Counseling Team meets with people near Fort Lauderdale, Florida, to provide advice on buying a home. Their website also features a housing and mortgage glossary to help new homeowners or potential homebuyers become acquainted with financial definitions.

Mobile-Friendly Site

Consolidated Credit’s website is mobile friendly and easy to navigate for all account holders. The mobile site clearly displays their contact information, the option for getting a free debt consultation, and a free financial tips section. The mobile site does not include all the same details and features as the desktop computer site, but it has enough options that consumers can easily use their basic services on their phone.

The company even offers a budgeting app for mobile phones with a variety of offered tools.

Learn more about Consolidated Credit

Cons

Upfront Fees

Compared to other debt consolidation companies, Consolidated Credit has a slightly higher up-front origination fee – up to $49. Keep in mind that this is a one-time fee, and is either on par with or slightly higher than the upfront fees other debt relief companies charge.

On top of making payments to your credit card, Consolidated Credit charges an average monthly fee of $40 (up to $79 depending on where you live). This fee allows them to help you and others pay off debt.

No Guarantees

Unlike debt settlement, you will have to pay back all your credit card debt and other unsecured debt (although it will most likely be at a much lower interest rate). If you fall behind on the monthly payment plan you have set up with Consolidated Credit, you will have to drop out of the program and either re-consolidated your debt, or try debt settlement.

Unfortunately, Consolidated Credit does not offer a money-back guarantee for its consolidation options. However, the company does not charge a cancellation fee if you decide to stop using its services.

Our Recommendation

Consolidated Credit is transparent about who runs the company, their prices, and exactly what you can expect when you sign up for their debt consolidation program. Finding a debt management program that is up-front about the above information and more is rare in the debt consolidation industry.

One of Consolidated Credit’s certified debt counselors will be able to give you exact pricing for your unique situation without any fees. We recommend working with Consolidated Credit for any credit card debt you find yourself in. Consolidated Credit can assist you in consolidating your debt and creating an effective debt management plan to ultimately eliminate debt.

Talk to a certified credit counselor from Consolidated Credit


What is Debt Consolidation?

Debt Consolidation is a debt management program. The program can be simplified into a few easy-to-understand steps that most companies, including Consolidated Credit, follow.

  1. Talk to Consolidated Credit to see if debt consolidation is a good option for your individual financial circumstance.
  2. Pay signup fees to the company you select. These are mostly determined by what state you live in.
  3. Once you sign up with a debt consolidation company, they will reach out to your creditors on your behalf: credit card, personal loan, medical billing, and sometimes student loan companies. The goal of this reach out is to lower the interest rate on debts you owe.
  4. A new interest rate on each of your debts is negotiated. For example, if you have an AMEX card with a 25% interest rate, a debt consolidation company may be able to lower that interest rate to 6%. Your creditors may also stop giving you added penalties if the know you are serious about repayment and are working with a debt consolidation company.
  5. Make one monthly payment to Consolidated Credit, or whichever debt consolidation company you choose.
  6. Your debt relief company will take a monthly fee (ex: $30) and disperse the rest out to as many creditors as you have. This way, you only have to worry about one payment each month.
  7. Because you have negotiated a lower interest rate with each creditor, you will be debt-free in an average of 3 to 5 years.

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436 Consolidated Credit Reviews

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    Sort By:

  1. User Score
    10
    August 25th, 2015 Morganton, NC
    0 people found this review helpful!
    Very professional, corteous, and knowledgeable representative.
    Read More
  2. User Score
    10
    August 25th, 2015 Cocoa, FL
    1 people found this review helpful!
    Consolidated Credit has been very helpful and easy to work with. Their terms were clear and easy to follow and when I did have a concern customer service was very helpful and the results satisfactory
    Read More
  3. User Score
    10
    August 25th, 2015 Topeka, KS
    0 people found this review helpful!
    While I initially had some concerns about this company, those concerns no longer exist. I am very satisfied with the care and treatment we have received. I am thankful to have an opportunity to work with this company and its employees.
    Read More
  4. User Score
    10
    August 25th, 2015 Miami, FL
    0 people found this review helpful!
    Excellent service
    Read More
  5. User Score
    10
    August 24th, 2015 Atlanta, GA
    0 people found this review helpful!
    No matter what I may need help with, y’all are always there to help. Always nice, friendly and efficient. Such a nice welcome. I am so glad I decided to let y’all help me get debt free!!
    Read More
  6. User Score
    6
    August 24th, 2015 Buffalo, NY
    1 people found this review helpful!
    good
    Read More
  7. User Score
    10
    August 24th, 2015 Ball Ground, GA
    0 people found this review helpful!
    Elizabeth is awesome! She was helpful and made me feel important and that helps to make this process less stressful!
    Read More
  8. User Score
    10
    August 21st, 2015 Tillamook, OR
    0 people found this review helpful!
    Sebastian was super helpful. I appreciate his expertise and kindness towards me.
    Read More
  9. User Score
    10
    August 18th, 2015 Brooklyn, MD
    0 people found this review helpful!
    An honest solution to debt with polite and informative staff!
    Read More
  10. User Score
    10
    August 11th, 2015 Los Angeles, CA
    1 people found this review helpful!
    I love how much they have helped me.
    Read More
  11. User Score
    10
    July 17th, 2015 Tampa, FL
    1 people found this review helpful!
    I have nothing but great experiences with cc.
    Read More
  12. User Score
    10
    July 6th, 2015 Houston, TX
    3 people found this review helpful!
    The process so far has been very encouraging. I am only 6 months away from having all my debts paid off. I would have likely taken a lot longer to do this had I tried to do it on my own. Its truly a blessing for me.
    Read More
  13. User Score
    8
    July 1st, 2015 Pompano Beach, FL
    2 people found this review helpful!
    Hard to log in
    Read More
  14. User Score
    10
    June 24th, 2015 San Jose, CA
    0 people found this review helpful!
    excellent program
    Read More
  15. User Score
    0
    June 15th, 2015 Pittsburgh, PA
    12 people found this review helpful!
    I recently was referred to this company after I had applied for a loan to consolidate. I was not behind like many people, simply looking for help to get things paid off a little quicker. I was very skeptical because I knew a friend who had dealt with a similar company and had very poor results. Unfortunately, I am going to have to agree with him that these companies really aren’t much help.

    The first person I talked to was very helpful and did well to try and help calm my initial fears of signing up for one of these companies. I was quoted initially a payment that was $40 less than what I was paying now. I understand this is just an estimation, but I figured at worse, it might fluctuate by $10 either way. I signed up with the idea that this would help me pay off things even faster. (Despite all the reviews I have read stating that often people view this companies almost as poorly as bankruptcy.) I receive further paperwork stating that my payment was now going to be exactly what I was paying before, which really does not do ANYTHING to help me. I understand it lowers the interest rate to pay it off quicker, but it shuts down the accounts and really has no other benefit. If I pay just a few dollars more a month than I am now, I can have it paid off in a year LESS than what they quoted me. (Mind you, all of this started with only wanting to consolidate just two things to help pay off some deferred interest that was about to bill.)

    Come Monday, I find that they had still billed me the $49 despite cancelling on Friday. They claim that it was billed on that same day, but regardless…I cancelled. I was never told up front that this $49 was non-refundable, but supposedly hidden DEEP in their paperwork, it’s noted that it cannot be refunded. (Though after doing some research, I have seen it done.)

    Unless you feel like hurting your credit and more or less paying what you are now…I would highly recommend staying FAR away from this company. It might help a small number of people, but obviously for me and many others, it’s just another cycle of wasting money.

    Read More
  16. User Score
    9
    June 10th, 2015 Plaistow, NH
    2 people found this review helpful!
    couldn’t be any better everytime I call if I have a problem. everyone I speak with is very friendly and very helpful
    Read More
  17. User Score
    10
    June 10th, 2015 Tampa, FL
    0 people found this review helpful!
    Been a blessing
    Read More
  18. User Score
    10
    June 8th, 2015 North Royalton, OH
    0 people found this review helpful!
    Great!
    Read More
  19. User Score
    10
    June 1st, 2015 Dover, NH
    3 people found this review helpful!
    Nice to be credit card debt free, took me 4 years, and my bank interest went from 25 % to 2 % once in the program, and payed of a combined debt of $13,000. Thank-you Cheryl, and Consolidated. Awesome!
    Read More
  20. User Score
    10
    May 21st, 2015
    2 people found this review helpful!
    excellent service
    Read More
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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Our Score
9.1
User Score
9.3
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

Up to $79

Setup & Activation Fee

$0-$49

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

436
Our Score
9.1
User Score
9.3
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

Up to $79

Setup & Activation Fee

$0-$49

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

436