For over 25 years, Consolidated Credit has helped more than 6.5 million people with debt management 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
Positive Consolidated Credit Reviews
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
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 management 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
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 freedom 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.
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
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 management 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.
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 another, more drastic debt management strategy.
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.
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.
Talk to Consolidated Credit to see if debt consolidation is a good option for your individual financial circumstance.
Pay signup fees to the company you select. These are mostly determined by what state you live in.
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.
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.
Make one monthly payment to Consolidated Credit, or whichever debt consolidation company you choose.
Your debt management 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.
Because you have negotiated a lower interest rate with each creditor, you will be debt-free in an average of 3 to 5 years.