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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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1-(888) 538-4192
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430 Consolidated Credit Reviews

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    Sort By:

  1. User Score
    10
    July 11th, 2017 Portsmouth, VA
    2 people found this review helpful!
    Outstanding customer service represenative
    Read More
  2. User Score
    10
    July 5th, 2017 Fort Lauderdale, FL
    3 people found this review helpful!
    very fast and accurate great costumer service
    Read More
  3. User Score
    10
    July 5th, 2017
    2 people found this review helpful!
    Very accessible, helpful and informative.
    Read More
  4. User Score
    10
    June 30th, 2017
    0 people found this review helpful!
    Consolidated Credit and all of their employees that I have spoken with on the phone are awesome!!!!! I appreciate their help more than words can express
    Read More
  5. User Score
    10
    June 30th, 2017
    1 people found this review helpful!
    Tatiana was very helpful providing me with information to payoff my account.
    Read More
  6. User Score
    7
    June 21st, 2017 Butler, PA
    4 people found this review helpful!
    The people I talked to were very nice and listened to my reply about paying my bill
    Read More
  7. User Score
    10
    June 19th, 2017 Chicago, IL
    3 people found this review helpful!
    Friendly, fast customer service!
    Read More
  8. User Score
    10
    June 15th, 2017 Chatsworth, CA
    2 people found this review helpful!
    Jackeline
    is very professional and friendly especially she made everything possible to help me
    Read More
  9. User Score
    10
    June 14th, 2017
    4 people found this review helpful!
    For the 1st time in over 3 years, I could not make my monthly payment. Tatianna was not only helpful but very compassionate
    She was able to cancel the payment and really put my mind at ease.
    Thank you again
    Sherri Franzi
    Read More
  10. User Score
    10
    June 12th, 2017 San Francisco, CA
    2 people found this review helpful!
    Excellent customer Service
    Read More
  11. User Score
    10
    June 6th, 2017
    5 people found this review helpful!
    At first I was very leery regarding consolidated credit however at the surfing the net and contacting the Better Business Bureau I realize that they had a 5-star rating so that made me feel a lot easier and therefore it was not a scam
    Read More
  12. User Score
    10
    May 25th, 2017 Springfield, MO
    2 people found this review helpful!
    service was exceptional
    Read More
  13. User Score
    10
    May 22nd, 2017 Copperas Cove, TX
    0 people found this review helpful!
    Always helpful and I am treated with respect.
    Read More
  14. User Score
    10
    May 17th, 2017 Chandler, AZ
    0 people found this review helpful!
    Thank you all so much for helping me get back on track. My credit Is getting much better. Again thank you
    Read More
  15. User Score
    10
    May 15th, 2017
    4 people found this review helpful!
    Service above and beyond
    Read More
  16. User Score
    10
    May 15th, 2017
    1 people found this review helpful!
    Very informative answered all my questions
    Read More
  17. User Score
    9
    May 11th, 2017 Hackensack, NJ
    0 people found this review helpful!
    Representative was very helpful in assisting with my inquiry and updating my accounts in the program.
    Read More
  18. User Score
    10
    May 10th, 2017 Fenton, MI
    0 people found this review helpful!
    Easy to understand, quick and super efficient. Told me exactly what i needed to know.
    Read More
  19. User Score
    10
    May 10th, 2017
    1 people found this review helpful!
    Excellent customer service
    Read More
  20. User Score
    10
    May 9th, 2017
    0 people found this review helpful!
    Very friendly and will work with you No matter what you have. I love how quick they get back with you.
    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