Consolidated Credit 2020 Review
Founded in 1993, Consolidated Credit has assisted over 6.5 million consumers with getting out of debt through their credit counseling and debt management planning services.
Consolidated Credit provides a free consultation during which certified credit counselors examine your budget and debt before offering you budgeting advice and debt management strategies.
Consolidated Credit accepts the following types of debt:
- All major credit cards
- Store credit cards
- Gas cards
- Unsecured personal loans
- Store credit lines that have gone to collections
- Medical bills that have gone to collections
Consolidated Credit does not accept payday loans or secured loans (such as mortgages or auto loans).
If you are in need of a debt management plan to pay off your credit cards, they can design a personalized repayment plan with monthly payments to fit your needs. Their goal is to combine your credit card debts into monthly payments with a lower interest rate than your current loans.
Consolidated Credit can also assist with financial advice and counseling regarding home purchases (covering first-time homebuyers all the way to reverse mortgage options for seniors).
To sign up with Consolidated Credit, you simply need to visit their website and enter the following information: your name, email, phone number, state, ZIP code, and total amount of debt. After you hit the "Start Now" button, you will wait for Consolidated Credit to contact you by phone or email to set up an appointment.
After the call, your certified credit counselor will work with you to come up with a specialized plan for your needs, whether it is to have a payment plan to pay off your debt, apply for a debt consolidation loan, or enroll in a debt management program.
Contact Consolidated Credit:
Phone (for clients): 877-201-7780 Hours: Monday through Thursday 8:30 am to 8 pm, Friday 9 am to 5 pm EST
Consolidated Credit Pros
- 25+ years of experience: Consolidated Credit has been in the credit counseling and debt relief business since 1993.
- Reduce total credit card payments by up to 30-50%
- Won't hurt your credit score: Unlike other debt relief options like debt settlement or bankruptcy (which can drop your credit significantly), Consolidated Credit will not negatively impact your credit score.
- Nationwide service: Consolidated Credit is available in all 50 states.
- Highly accredited service: Consolidated Credit has many industry accreditations, including an A+ from the BBB, an ISO certification, and an FCAA (Financial Counseling Association of America) accreditation.
- Award winning service: Consolidated Credit was the recipient of the EIFLE Nonprofit Organization of the Year in 2012 and are currently a Certified ISO 9001 Company.
- There is no minimum debt required to enroll.
- Certified debt counselors: All debt counselors are CPFC certified. The president of Consolidated Credit, Gary Herman, has also trained as a certified credit counselor and is the vice president of FCAA, which ensures that debt relief companies provide the best service.
- Free initial consultation: Simply fill out a form on the Consolidated Credit website.
- Excellent customer service: Customers reported great customer service from professional, friendly, and knowledgeable company representatives.
- Additional resources: Consolidated Credit offers extra resources such as blogs, web seminars, local workshops, educational videos, debt-to-income ratio and credit score cost calculators, interactive courses, and a community outreach program for extra financial education.
Consolidated Credit Cons
- Their website lacks transparency, specifically regarding pricing for their credit counseling services and debt management plans. Customers are instead asked to call or apply online to find out more.
Consolidated Credit Pricing
As a non-profit agency, Consolidated Credit's fees and pricing are dictated/regulated/governed by the states they operate in.
Although the following is Consolidated Credit's standard pricing, keep in mind that fees and interest rates depend on the state, principal, and creditors:
- There are no upfront or contingency fees.
- Monthly fees range from $0 - $69, with an average monthly fee of $35.
- There is no minimum debt required to enroll.
- Customers generally save between 30% to 50% of their total credit card debt.
Real Customer Reviews
Consolidated Credit has generally positive reviews from their clients, with a few mixed and negative feedback stating that the debt relief process took too long.
As of May 2020, Consolidated Credit has a 4.7/5 on Trustpilot and the following reviews:
"Very satisfied Since working with Consolidated, my bills have decreased significantly. They are always pleasant and always willing to work for you. No matter what questions you have. I am very satisfied with the program." -May 2020
"Good Job I have had no issues with Consolidated Credit and it has helped me pay down my debt." -May 2020
Consolidated Credit is a positively reviewed credit counseling service with competitive interest rates and nationwide service. Although their monthly fee is high, they are rolled into your new lower monthly payment. It’s well worth a look if you are looking for a solution for your debt that will lower your monthly payments, not hurt your credit score and further consumer credit education.
Frequently Asked Questions
What is the minimum debt needed to enroll in Consolidated Credit?
Consolidated Credit does not require a minimum debt amount.
What is the difference between the debt management program and the debt settlement program offered by Consolidated Credit?
A debt management program allows you to pay off what is owed in a manageable way, by paying a lower interest rate to quickly rid yourself of debt. A debt settlement program settles your debt for less than the full amount you owe; however, even though this closes the account, you will see a 7-year credit report penalty for all the settled debts.
Can I pay an extra amount during the month to pay off my credit card debt sooner?
Yes. You simply have to call Consolidated Credit and speak with a representative who can assist you in posting the extra payment.
What are Consolidated Credit's business hours?
Consolidated Credit's team of credit counselors are available from Monday through Thursday 8 am to 10 pm EST, Friday and Saturday 8 am to 8 pm EST, Sunday 9 am to 5 pm EST.
Where are the Consolidated Credit offices located?
Consolidated Credit's physical address is 5701 West Sunrise Blvd, Fort Lauderdale, Florida 33313.
Reviews for Consolidated Credit
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Our Debt Relief Partners
Accredited Debt Relief, American Debt Enders, Consolidated Credit, CuraDebt, Freedom Debt Relief, Pacific Debt Inc
|Credit Score Required||None|
|Pricing||$0 - $69/month|
|Minimum Debt Amount||$0|
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