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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
9.2
User Score
9.4

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

Our Score
9.2
User Score
9.4
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

430

This Review is maintained by Chase Sagum

Review Last Updated: September 18, 2019

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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430 Consolidated Credit Reviews

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  1. User Score
    2
    October 28th, 2014 Portland, OR
    24 people found this review helpful!
    Very disappointed!! Approach with caution.

    Their customer service is lacking and at times bordering on rude. The standard answer to their question is “That’s not our problem.” Customer service is very helpful and will bend over backwards to help you until you are a customer and then a different story.

    Also be cautious when starting. What they do not tell you can destroy your credit and cost you hundreds to thousands of dollars. Consolidated Credit will work up a payment plan then start taking money out of your account for those payments. They will then start negotiating with creditors, while they are taking and holding on to your money. This negotiation could take several months. During this period of time, even though they have taken and are holding your money, you are expected to continue to make payments on your accounts. Instead of negotiate with your creditors and then start taking your money. They do it the other way around.

    They don’t tell you this up front. I was even told by one customer service agent that they will now start making the payments on my behalf. After a month goes by I get letters from creditors regarding past due notices. Now I’m faced with larger than normal payments because of the past dues, late fees, not to mention an enormous hit on my credit rating for all the late payments. I just had a conversation with a customer service representative who kept stating over and over “That’s not our problem” when I asked if there was any way to fix this with the creditors. I also found out, nearly two months into this, they are still negotiating with creditors and continuing to take my money without any payments to creditors being made.

    Very frustrated and disappointed. I am now financially in a much worse place than I was before I started working with Consolidated Credit. Not to mention my credit rating has plummeted. Thanks for everything Consolidated Credit.

    Read More
  2. User Score
    1
    July 11th, 2014 Nashville, TN
    11 people found this review helpful!
    Very disappointed!!!!

    The customer service is lacking! I wanted answers to questions to see if this was the right thing for me to do. I was already scared, nervous, and a little intimidated with this process so I needed someone that was going to take the time to assure me of how the process works and if it is in my best interest. It only took 2 seconds for someone to call me after I filled out the on-line inquiry. The rep wanted more information, put me on hold, and then another rep was on the line asking how she could assist me. Each rep repeated back to me false information as well. Both stated information differently than I had given it. If I want to go through mutilple channels, have a fast talking rep that doesn’t give me answers, and a rep with no compassion to helping me then I should just stick with my credit card companies. The reps should explain the process, answer questions…don’t just ask for information. It all was very quick and too much pressure for me. When I asked to speak to another rep thinking I might have just gotten “a one off”, I was told I would just have to call back. I can promise you that didn’t happen. I am sure this company helps many people, I was just not one of them!

    Read More
  3. User Score
    10
    February 27th, 2014 Pleasant Grove, UT
    3 people found this review helpful!
    I don’t like asking other people for help. So when I realized my debt was out of control it was a tough decision for me to ask for outside help. But I broke down and researched a bunch of companies and Consolidated came out on top. Super friendly customer service and they are supportive all throughout the process. We’d reccomend them.
    Read More
  4. User Score
    9
    February 25th, 2014 Pleasant Grove, UT
    7 people found this review helpful!
    I am so glad I had consolidatedthey really helped me.
    There is 1 problemwith the service the staff does not contact the collectors on your benefit.
    you must do it your self,if you could successifully do this you wouldn’t need consolidated this is what i experienced.
    Read More
  5. User Score
    10
    February 20th, 2014 Pleasant Grove, UT
    3 people found this review helpful!
    Approximately three years ago, my husband and I were in a lot of financial debt. We had multiple collections, lots of little accounts, and other bill that became to overwhelming to manage on our own. Consolidated handled all of our accounts and managed to reduce our minimum payments, almost eliminate our interest, and ultimately helped me to pay off all of my debt. They were professional and friendly throughout the entire experience. Three years later I am happy to announce that we are debt free and we just purchased our first home! We could not have done it without Consolidated! I would recommend them to anyone that is feeling overwhelmed by their finances
    Read More
  6. User Score
    10
    February 16th, 2014 Pleasant Grove, UT
    3 people found this review helpful!
    WE’VEJUST RECENTLY STARTED WORKING WITH CONSOLIDATED CREDIT BUT SO FAR SO GOOD! THE CUSTOMERS SERVICE REPRESENTATIVE WAS FRIENDLY FROM THE INITIAL CALL AND EVERYONE ELSE WE’VE TALKED TO HAS BEEN GREAT. WE HAVE LOVED WORKING WITH THEM AND WOULD RECOMMEND THEM TO ANYONE.
    Read More
  7. User Score
    9
    February 15th, 2014 Pleasant Grove, UT
    1 people found this review helpful!
    I was hesitant to call CCC, however, took the first step and am so happy I did. My husband and I struggled with aftermath of a hurricane and CCC offered relief and a light at the end of the tunnel. The CCC agents are professional and also understanding, very easy to speak with and will offer solution to needs. I would highly recommend this to anyone feeling a financially trapped.
    Read More
  8. User Score
    10
    January 23rd, 2014 Pleasant Grove, UT
    2 people found this review helpful!
    We were up to our ears in credit card debt from purchasing a house we couldn’t afford. They were able to enroll most of the credit card companies in the program and brought our interest rates to anywhere from 0 to 2. Now, at the halfway mark, we can envision what it will be to be completely debt free!
    They are incredibly warm and helpful when you call. They are always available and they keep close track of your creditors by requesting quarterly updates, making sure all the companies are still at the agreed interest rate.

    The monthly fee is nominal.

    Read More
  9. User Score
    5
    January 22nd, 2014 Pleasant Grove, UT
    4 people found this review helpful!
    When I WAS ABLE TO FINANCE the bills that I had with you, you put a man on the line to try to explain to me how bad of a idea it was to do it!My payments were cheaper I got all my bills paid off yet this idiot was trying to tell me how bad of a idea it is to do it! As far I Am concerened you ought to get rid of that guy!
    Read More
  10. User Score
    9
    January 6th, 2014 Pleasant Grove, UT
    3 people found this review helpful!
    My experience with Consolidated Credit has made me more comfortable with my debt situation. I had a large debt going into this and yet with the help I am receiving I have divided my debt by half, and I feel my life has been relieved of at least half the stress I would have been under had I tried to pay the debt myself.
    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
9.2
User Score
9.4
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

430
Our Score
9.2
User Score
9.4
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

430