Consolidated Credit
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About Consolidated Credit
Consolidated Credit Synopsis
Review Summary: Consolidated Credit provides credit counseling and an in-house debt management program specifically for consumers with credit card debt. There is no debt amount requirement to work with Consolidated Credit, but it does require a monthly fee if you decide to use its debt management program.
Recommended for: Consolidated Credit is a good option for consumers who primarily have credit card debt. It is also available in all 50 states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
What is Debt Relief?
Debt relief is simply any solution that allows consumers to lower what is needed to pay off debt. It is also known as debt resolution, debt management, debt settlement, and debt negotiation. Consumers who find themselves with a large amount of debt, are facing financial hardship, and are having difficulties paying off the debt may qualify for debt relief assistance. Debt relief companies can help consumers in a variety of ways such as reducing interest rates and fees, consolidating debt, negotiating lower pay-off balances, and more. Utilizing a debt relief program typically results in a temporary drop in your credit score.
Pros and Cons of Consolidated Credit
Pros
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Works with any debt amount
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Available in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands
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High customer service rating
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In business since 1993
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Help available for Spanish speakers
Cons
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Can take up to 60 months to pay off debt
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Up to $79 monthly fee
Consolidated Credit Reviews
Consolidated Credit has the following online reviews available:
| Consumer Review Platform | Rating |
|---|---|
| Better Business Bureau | A+ BBB Rating; 5/5 Stars with 0 Reviews |
| Best Company | 4.9/5 Stars with 1,298 Reviews |
| CustomerLobby | 4.0/5 Stars with 61 Reviews |
| Trustpilot | 4.7/5 Stars with 8,981 Reviews |
Consolidated Credit Full Review
Overview
Consolidated Credit is a nonprofit credit counseling agency that offers debt-ridden consumers credit counseling and financial education programs.
Consolidated Credit primarily helps consumers pay off credit card debt through its debt management program.
In addition, Consolidated Credit also offers other services, including reverse mortgage counseling, foreclosure prevention counseling, pre-purchase housing counseling, and more.
Consolidated Credit does not have a minimum debt requirement needed in order to apply.
Consolidated Credit Solutions Process
If you are interested in working with Consolidated Credit, this is a high-level view of the process that you can expect:
- Step 1: Credit Counseling. In this step, you will talk with a certified credit counselor who will evaluate your situation, present you with options for paying off your debt, let you know if you qualify for a debt management program, and what your costs will be.
- Step 2: Make an informed decision. Once the credit counselor presents you with the debt management plan available to you through Consolidated Credit versus other types of solutions, it will be up to you to decide which direction you want to go.
- Step 3: Enroll. If you decide that Consolidated Credit’s debt management program is the right program for you, then you can begin the enrollment process.
- Step 4: Consolidated Credit contacts your creditors. For Consolidated Credit to help you, your creditors need to agree to three terms: (1) agree to accept payments from a debt management organization; (2) to reduce or eliminate interest charges; and (3) stop adding penalties and fees to your debt.
- Step 5: Start the program. Once all the creditors agree to the terms, you will be able to start the program. As part of the debt management program, you will make a payment each month, and Consolidated Credit will pay your creditors for you.
Consolidated Credit Solutions Rates and Fees
As part of the Consolidated Credit debt management program, you will pay a fee in addition to your monthly payments. The fees are primarily based on your state.
The average fees that consumers pay are $40; they max out at $79.
Consolidated Credit Company Information
Consolidated Credit is a credit counseling company based in Ft. Lauderdale, FL, that was started in 1993.
It is one of the nation’s oldest credit counseling organizations and has reportedly helped more than 10 million people with financial issues since its founding.
It is fully accredited by the Better Business Bureau (BBB) with an A+ rating, and it has excellent independent customer reviews online.
States Serviced by Consolidated Credit Solutions
Consolidated Credit Solutions is available in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
Our Methodology
We independently identify debt consolidation companies. The debt consolidation companies are then evaluated based on five factors that we believe are important for consumers: years in business, number of products offered, customer service availability, state licensing footprint, and Better Business Bureau (BBB) Ratings. Please find a full description of our rating system here.
This information is intended to be general and educational in nature and should not be construed as financial advice. Consult your financial advisor before implementing financial strategies for your retirement.
Reviews last updated: 4/1/24. (Reviews are typically updated monthly.)
Ratings last updated: 4/3/24. (Ratings are typically updated quarterly.)
Address: 5701 West Sunrise Blvd Fort Lauderdale, FL 33313
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