InCharge Debt Solutions is a 501(c)(3) nonprofit organization that specialized in credit counseling, debt management services, bankruptcy education, housing counseling, and educational initiatives. Since 1997, InCharge Debt Solutions has facilitated the repayment of $3 billion in debt. The company strives to help consumers achieve financial balance along their financial journey.
| InCharge Debt Solutions | Consolidated Credit | Accredited Debt Consolidation | |
|---|---|---|---|
| Debt You Pay Back | Unknown | 50% - 80% | 68% - 75% |
| New Credit Card Interest Rate | 8% average | 0% - 11% | 8% average |
| Monthly Program Costs | $30 average | $40 average | $10 - $40 |
| Average Customer Rating | 7.6/10 | 9.4/10 | 9.6/10 |
| Availability | 16 U.S. States | 50 U.S. States | 8 U.S. States |
InCharge Debt Solutions is only licensed in AZ, CO, DE, IL, IN, MD, MI, MS, NV, NY, OR, RI, TN, UT, VT, and VA. Consolidated Credit is licensed in all 50 states.
Pros
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.
Minimum Debt Accepted
InCharge Debt Solutions 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.
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.
View Other Debt Consolidation Companies
Cons
No 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.
Not CPFC Certified
InCharge’s financial counselors are not CPFC (Certified Personal Finance Counselor) certified, but they are all Certified Financial Specialists with the National Foundation for Credit Counseling (NFCC).
Find a CPFC at Consolidated Credit
Our Recommendation
InCharge Debt Solutions is a non-profit organization that offers counseling services and debt relief solutions for consumers in a tight financial situation. InCharge’s website is full of useful information about debt management, credit counseling alongside articles about cutting down on expenses, the best budgeting apps, and finding the right bank. The information on the site is great for individuals struggling with debt problems. However, InCharge does not display the average new interest rates they can work out with credit card companies. Lack of transparency may be an issue as consumers like to compare rates against other companies in the industry. For these reasons, we recommend using a different debt consolidation company. View More Debt Consolidation Companies
About InCharge Debt Solutions
What is a Debt Consolidation Program?
InCharge Debt Solutions is one of many companies that has a debt consolidation program. These programs are generally two-fold:
- Roll all your (unsecured) debts into one single payment
- Your debt consolidation works with your creditors to lower your interest rates
The purpose of debt consolidation is to pay off your credit cards and other unsecured debts faster and only worry about one monthly payment (your debt consolidation company will disperse your one payment amoung your creditors). If you can’t make your monthly payments, or you’ve fallen delinquent, we recommend researching debt settlement.
InCharge’s Debt Management Programs
Consumers looking to consolidate their credit card debt payments without having to take out a new loan can do so through InCharge’s debt management program. Consumers will receive the help of an InCharge counselor to help them get out of debt. The counselor will work with the credit card company to reduce the interest rate on the debt and lower the monthly payment. Clients can consolidate their credit bills into one monthly payment to InCharge, become debt-free quicker, lower the interest rate (regardless of their credit score), and eliminate late fees and over-limit charges. Working with an InCharge counselor can help eliminate the debt in as little as three years. Other debt relief services they offer include:
- Debt management
- Financial education
- Credit counseling
- Bankruptcy counseling
- Student loans counseling
- Housing counseling
Debt Education They Provide
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 for a total of $40 to start.
Mobile Friendly Website
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.
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User Score02 people found this review helpful!I signed up , paid a $75 set up fee and called and spoke with a representative who assisted me with changing my payment date . I was assured this was ok and was not advised that it was too late .
Just days before my payment was to be processed, I got a letter stating I had been removed from their program AFTER they received letters of acceptance from my creditors. In fact, I called my creditors and they said that they still showed me as actively enrolled .
When your creditors accept a DMP proposal, they will not allow you to enroll with another company . So, I have lost all benefits thanks to the negligence of this company .Was this review helpful? YesRead More -
User Score24 people found this review helpful!I don’t have experience with other debt payment companies, but this has to be one of the worst. We started with a bunch of debt and a credit score around 660. After about a year of using this company, they continued to submit late payments on our behalf, and screw us over. Finally after missing no bill times and now having a credit score of 550, we cancelled their services and will get this under control ourselves. Look elsewhere.Was this review helpful? YesRead More
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User Score53 people found this review helpful!I don’t know yet I’m a bit confused- when I long into some of my accounts they say paid but the others say restricted due tue non payment I had a Incharge payment of $350 and only 2 credit cards where paid by them.? Where’s the rest of my money???? I have no idea what’s going on. 😩Was this review helpful? YesRead More
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User Score92 people found this review helpful!I have been very happy with InCharge Debt Solution. I. They have helped me get out of debt. I really realized that as they have helped me already have helped me by pay off 3 of my credit cards. I have several to go, but they have helped me
increases my credit score .Was this review helpful? YesRead More -
User Score10
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User Score104 people found this review helpful!I started with Incharge in September 2016. The counselor was very helpful and didn’t make me feel bad about my financial situation. InCharge has been such a blessing because my finances were very stressful. To date, I have paid close to 40% of the balances. Their website allows you to track your progress for each account. I often login to see the progress bars when I’m feeling a little discouraged and it’s a great reminder of my goal to be debt free. I highly recommend them to anyone needing a way to get out of debt and gains some peace of mind!Was this review helpful? YesRead More
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User Score93 people found this review helpful!I am very grateful for Incharge Debt solutions. Was stressed out with all of my debt. Called them, worked out a plan with a counselor. I haveone easy monthly payment, andlook forward to beingout of debt in 4 years. Thanks In Charge!!!!Was this review helpful? YesRead More
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User Score1016 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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- 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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11 InCharge Debt Solutions Reviews