InCharge Debt Solutions
InCharge Debt Solutions offers consolidation, credit counseling, and debt management.
InCharge Debt Solutions claims to reduce consumer debt 90 percent faster (three to five years) with their consolidation program. Not only do they consolidate your debts and get you a lower interest rate, but their counseling program also teaches people techniques for budgeting, saving, and achieving future financial success. Actual interest rates are unknown.
The Good
- Positive reviews
- Low upfront fees
- Highly accredited
Free Consultation and Accreditations
Those feeling overwhelmed with debt (credit card and some unsecured debts) can call InCharge, talk to a certified counselor, and get a free analysis of their situation. This free consultation can help customers find solutions to their financial issues. InCharge has several industry accreditations and certificates. The company has certified credit counselors, and is accredited with the NFCC and AICCCA.
Positive Reviews
Calling a consolidation company and admitting your debt can be a difficult step to take. People who have reviewed InCharge say the company’s financial counselors make them feel hopeful and explain the program very clearly. InCharge customers are happy with the company’s consolidation services.
The Bad
- Unknown cancellation policy
- No ISO certificate
- Unknown state availability
Lack of Transparency
The prime reason InCharge has a below average score in our review is because they do not disclose several key pieces of information. The average interest rate consolidation companies can get your debt down to is usually difficult to find, and InCharge is no different. We also could not find the company’s refund policy or the states they are available in. We would like to see more transparency from InCharge.
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The Bottom Line
InCharge offers excellent credit counseling and a debt management program to help people pay pay off their debts in three to five years. The company is highly accredited and has fees that are typically lower than industry averages. However, because there are several key elements that are not transparent about InCharge (interest rates and where they are available), we cannot recommend using them. For a more transparent company, check out the top consolidation companies.
About InCharge Debt Solutions
InCharge Debt Solutions provides both debt management and debt consolidation. InCharge Debt Solutions debt management plan allows for customers to be able to consolidate all of their debt into one monthly payment with a lower interest rate so the customer can pay off that debt in approximately three to five years. For one customer, InCharge Debt Solutions was able to help them reduce their debt payoff from 15 years to four years while also helping them save $7,900 in interest payments. Along with that, InCharge Debt Solutions also offers debt consolidation by gathering all of your loans into one new loan with a lower interest rate than your average debt interest rate.
Price
This company is a 501(c)(3) non-profit organization adhering to state regulations when it comes to fees. They charge $10 per creditor account enrolled, capping enrollment fees at $75.
Up-Front Fees
If an individual decides that he or she wants to open an account with InCharge Debt Solutions, a one-time up-front fee of up to $50 is paid to the company. Though it is a non-profit organization, one representative explains that the company still needs to maintain employees, phones, facilities, etc.
Free Consultation
Potential customers can receive a free consultation either over the phone with a certified financial counselor, or over the Internet by completing an online form. This allows for individuals to find out how a debt management program would work for them without making an initial commitment. Whether clients choose to work with Incharge Debt Solutions or not, all potential clients have access to certain educational materials on their website, including “Money 101,” a series of helpful articles, calculators, and other resources.
Time in Business
Founded in 1997, InCharge Debt Solutions has been helping customers manage debt for twenty years. Its longevity alone makes it an organization worth considering, but it has more than time to show for its success. InCharge is a 501(c)(3) non-profit, community-service organization that boasts several memberships, affiliations, awards, and recognitions. It is a member of the National Foundation for Credit Counseling (NFCC) and accredited by the Council on Accreditation (COA). They are also on the Board of Directors of Jump$tart Coalition for Personal Financial Literacy, a relationship that comes as no surprise to those who have accessed the wealth of educational materials on the company’s website.
Debt Education
Though most companies feature debt education on their websites, the clarity and mass of information on InCharge’s website really puts them in the top tier. The section called “Money 101” features several articles and tools on a variety of financial topics to help anyone who visits the site. There are several debt consolidation calculators, including “Repaying Student Loans,” “Cost of Credit,” and “Debt Roll Down.” There are tips about budgeting and saving as well as video games that teach concepts of personal finance. There are multiple e-books that you can download for free, as well as lesson plans for financial educators. The training and tools available help individuals at all levels of financial literacy.
Additionally, InCharge runs a bankruptcy education website, personalfinanceeducation.com, to assist individuals considering filing for bankruptcy. The Bankruptcy Code requires that those filing for bankruptcy complete a personal financial management instructional course, and InCharge’s website fills that requirement. There is a cost to complete the pre-filing ($25) and pre-discharge ($15) online courses.
Money-Back Guarantee
The company does not have a money-back guarantee. However, should the client choose to discontinue working with InCharge Debt Solutions, he or she may do so at any time without a penalty.
Unsecured vs. Secured Loans
The company manages debt from unsecured loans only. Though interest rates with unsecured loans are often higher in general, avoiding secured loans prevents the risk to clients of possibly losing assets such as a home, a car, or other possessions that are often used as collateral. InCharge is not unique in this aspect, as many other debt relief companies only work with unsecured loans. Individuals wanting to secure a loan with collateral will want to keep looking elsewhere for their debt relief needs.
Mobile Friendly
They have a mobile friendly site, something many other companies in the industry lack. Both versions of the site are easy to navigate. The menus, banners, and graphics are relevant and professional-looking. In addition to the menu options and social media icons at the top of the site, there is a “quick links” section at the bottom of each page, mapping all available pages and tools by topic. All in all, the website is fully functional, attractive and tidy—a major draw for clients seeking simplicity and efficiency.
Cancellation Policy
There is no penalty for discontinuing a working relationship with InCharge Debt Solutions at any time and for any reason. In fact, the company lists the ability to cut ties as a right in their “Client Bill of Rights.” Of course, the client will then be left to resolve the debt problem on his or her own, but the company will respect that wish.
Contact Information
Email:
Address:
InCharge Debt Solutions
5750 Major Blvd, Suite 300
Orlando FL 32819
Services Available
InCharge provides debt management, consolidation, and bankruptcy education and counseling.
Minimum Debt Accepted
They will help qualifying clients resolve any amount of debt above $100. This is good news for individuals who need assistance, but are rejected by debt relief companies that require higher minimums (in some cases as high as $10,000). Their certified financial counselors are willing and ready to take your financial problems seriously and to help you handle them efficiently, no matter the severity.
Online Dashboard
InCharge has an online dashboard, so their customers can see how their payments are being applied and track the progress of their debt management.
CPFC Certified
InCharge’s financial counselors are not CPFC certified, but they are all Certified Financial Specialists with the National Foundation for Credit Counseling (NFCC).
ISO Certified
InCharge Debt Solutions is not ISO certified. They are accredited by the Council on Accreditation (COA) and are members of the National Foundation for Consumer Credit (NFCC).
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User Score100 people found this review helpful!I was way over my head in cc debit. I was barely making my monthly payments because the interest rate was so high on all my cards. I was frustrated and literally googled debt solutions… and they came up. I was taking a total gamble on this being a good company. I have to say… I am 100% satisfied. They are AWESOME. Great customer service… promised what they said they were going to do.. and the best part.. was they got my cards down from 24% (all 5 of them) to 2% – 8%!!! I recommend them to EVERYONE I know that is in trouble with cc debit.
thanks for being awesomeWas this review helpful? YesRead More -
User Score101 people found this review helpful!Good and easy to work with. I like how you can start and complete all your information online without having to talk to someone first. Nice website allows you to monitor your progress and make updates and download statements. Very happy so far, they made it easy and fast to start.Was this review helpful? YesRead More
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User Score1010 people found this review helpful!I knew of them through my brother who rated them a 10 as well. I was in dire straits in 2013, now, I am only 10 months away to be debt free!!! These people know what they are doing!! I sold my truck to pay a credit card before knowing them, worst mistake I ever made. Try them out!! Highly recommended!!! MCAllen, TexasWas this review helpful? YesRead More
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User Score10
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User Score10
Blog Post
- 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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5 InCharge Debt Solutions Reviews