Consolidated Credit has helped clients hammer away millions of dollars worth of debt since 1993. Since opening, Consolidated Credit has helped over 5 million customers with debt issues. The company boasts highly competitive rates, industry accreditations, and holds a positive reputation with online customer reviews. Consolidated Credit also offers educational resources to increase financial literacy with customers who want to learn more. Some of these resources include webinars, calculators and articles on various finance topics. Consolidated also offers a community outreach program to provide financial education.

Consolidated Credit is one of the biggest companies in debt consolidation – the company has been featured in CNN, Forbes, MSNBC, and more. By making one (lower) monthly payment with them, you can reduce your credit card debt by 30-50%.

The Good

Company Highlights:

  • Great interest rates: consolidate credit card debt at 6 to 10%
  • Great upfront price: $0-49 per month
  • Available in all 50 states
  • Debt consultants are CPFC certified
  • ISO certified company

Years of Industry Experience

Consolidated Credit is one of the oldest names in the industry, having accumulated over 20 years in business. During that time, it has built a reputation for total professionalism, offering free debt consultations for potential clients and CPFC certified debt counselors.

Low Fees Yield High Savings

Debt consolidation in a government regulated industry. If you choose to work with a certified company, you will find that most companies charge about the same prices, and that prices vary by state. Consolidated Credit is no different – charging an upfront fee anywhere from $0 to $49, and a monthly fee up to $69.

Less regulated are the interest rates Consolidated Credit can talk your creditors down to. The company also claims to get credit card interest rates down to an average of 6 to 10% APR – one of the lowest rates in the industry.

Available to All

Each state has its own unique debt consolidation rules. For this reason, not all companies make their services available nationwide. Consolidated Credit makes an effort to comply with the state laws in every state – its services are available to people in every U.S. state.

Accredited Company; Certified Staff

The company is ISO certified and is accredited with the FCAA (Financial Counseling Association of America).

Gary Herman, the president of Consolidated Credit, has been working with the company for over 20 years. He has training as a certified credit counselor and is also the vice president of the FCAA – an important organization that ensures companies provide the best debt relief.

Positive Customer Reviews

Customer reviews frequently cite the staff’s professionalism and overall quality customer service. Many of the reviews commended Consolidated for the ease of contact and polite, helpful staff members who guided clients every step of the way. Some reviews are from users who used the free consultation but did not end up using Consolidated’s services, yet felt they were able to walk away more knowledgeable about their best course of action after the consultation.

Both the upfront-fee and monthly fee rates are subject to the state where the consumer reside, who the creditors are and the amount of money owed.

The Bad

Company Drawbacks:

  • Potentially higher fee than industry average
  • Not NFCC certified
  • Lack of transparency

Monthly Fees

Although their monthly fee is not significantly high, it is pricier than the industry average. Consolidated Credit charges a fee up to $69 to get set up with their service, which is a little higher than some of the competition. This is most likely offset by the monthly savings and much lower interest rate they provide. While this higher fee may be worth the savings in the long run, it is worth noting to potential customers.

Not NFCC Certified

Consolidated Credit is not certified with the NFCC (National Foundation for Credit Counseling). There are several other companies in the debt consolidation industry that do hold this certificate. Accreditations and memberships can be an important feature to look for when choosing a company to work with. These associations require accredited companies to keep a certain standard of best practices. This helps to ensure that customers are receiving quality services. While Consolidated Credit is not certified through NFCC, they are certified with other organizations, such as ISO and FCAA.

Lack of Transparency

Consolidated Credit does not have much information available on its website. Consumers are urged to call or apply online to receive more information. We would like to see all of their information available on their website. Transparency helps customers while they are searching for the company that best fits their financial needs. Posting the average fees and interest on a company’s website helps potential customers save time and makes the company seem more trustworthy and credible.

The Bottom Line

Consolidated Credit’s lengthy track record, pricing, service level, and expertise is impressive. Even on our own site, customers give Consolidated Credit a 9.4/10 on average. While one could dwell on the max $69 setup fee, customers are overwhelmingly positive about Consolidated Credit..

Given that the company is available in all 50 states, is transparent about their services, and has such positive customer reviews, we strongly recommend them for any and all clients with debt consolidation needs.

Frequently Asked Questions

Does Consolidated Credit Offer Consolidation Services or Personal Loans?

Consolidated Credit is a nonprofit consolidation company. Rather than providing a loan to consolidate all of your debts, the company negotiates with your creditors to secure lower interest rates. Then, you make a single monthly payment to Consolidated Credit, who then makes the payments to your creditors for you. The company offers a database of debt education materials and credit counseling that compliments its debt consolidation services.

What Is The Monthly Fee?

In order to use Consolidated Credit’s services, consumers are required to pay a monthly membership fee of no more than $69. The membership fee depends on the state where the consumer resides, who the creditors are and the amount of money owed.

Are There Any Upfront Fees?

Consolidated Credit charges an initial setup fee depending on which state a consumer resides in. The standard fee for most states is $49, but in some states you could be charged less or nothing at all.

What Is The Cancellation Policy?

Consolidated Credit’s cancellation policy allows a consumer to cancel in most cases for a $25.00 fee, and they keep the fees and payments collected from the consumer prior to the cancellation. However, if the consumer decides to cancel within three business days of the day the contract is signed, then they are not subject to the $25.00 fee.

Can I Get a Free Consultation?

Yes. As a consumer, you can easily receive a free consultation through Consolidated Credit’s website. You are required to provide your name, email address, phone number, state, and an estimation of how much debt you have in order to receive the consultation.

More Information

About Consolidated Credit

Since 1993, Consolidated Credit has helped consumers manage and eliminate debt. The company is a true consolidation company that helps combine all credit card debt into one monthly payment at a lower interest rate. In an experience from one of the company’s customers, Consolidated Credit was able to help the customer consolidate $50,000 of debt on multiple credit cards into one monthly payment and reduce their interest rates from 29% to 6%. On top of debt consolidation, Consolidated Credit also offers services with budgeting, credit counseling, financial distress from life events counseling, financial advice, and housing counseling.

Are there any inaccuracies in this review? We take our accuracy very seriously and would love your feedback. Give feedback here.

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69 Consolidated Credit Reviews

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  1. User Score

    9

    August 18th, 2016 Lewiston, ME

    The employee was extremely kind and helpful. I have had a very good experience with Consolidated credit so far.

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  2. User Score

    10

    August 12th, 2016 Whitman, MA

    You were very helpful. Thank you.

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    2

  3. User Score

    10

    August 11th, 2016 San Ramon, CA

    Wonderful, polite & caring service representative. A+

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    2

  4. User Score

    10

    August 10th, 2016 Moorhead, MN

    Jose
    not only answered my questions, but he made sure I connected to whomever I needed
    to speak to about my account, creditors, my payments everything
    He gave me a lot of faith in your organization and your services. If and when I need
    to talk to anyone I will be trying to contact Jose.
    Thank you for hiring a “caring” employee
    Sincerely,
    Sherry Withers

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    2

  5. User Score

    10

    August 8th, 2016 Brooklyn, NY

    Good fast answers to my guestions

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  6. User Score

    10

    August 6th, 2016 San Pablo, CA

    She was really helpful answer all my questions

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  7. User Score

    10

    August 4th, 2016 Contoocook, NH

    Bibi was extremely thorough and very helpful. Working with her today was a pleasure. As I explained to her on the phone, dealing with credit problems is not only painful but embarrassing. Having someone as helpful as she was today made the process much more pleasurable. Thank you Bibi

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    1

  8. User Score

    10

    August 3rd, 2016 Pittsburgh, PA

    I entered the program when there was no help in sight with my out of control debt/interest owed to several creditors. Getting set up was very easy and I had someone to help me the whole way. The decision to start was the hardest part, but as soon as I made my first call (and talking out current issues with a professional from Consolidated Credit) I agreed to start a 6 year plan. This plan was based solely on my situation, and not some cookie cutter plan for all.

    At first the payments were rough because the large amount, but I quickly realized the benefits of a single payment, instead of struggling through a stack of bills all month. Over time the payments became easier. Instead of continuing with ease, I decided to make a larger payment. That took me down to a 5 year program. Feeling confident on my financial decisions really made my life easier. Even though I was paying a very high payment, I knew it was the correct path instead of an uncertain one. I upped my payments twice over the course of the years, and I am writing this now with only a few months left in the program, and will finish in a total of 46 months!

    I went from being happy with a 6 year debt free program, to being completely debt free more than 2 years ahead of schedule. Consolidated Credit is the only reason I am in the position I am (now I get to decide to travel a bit, or maybe even buy a house). In the 4 years with Consolidated Credit, I never once encountered a person on the phone you could have said “was having a bad day”, or in other words, being “grumpy”. Every person I ever talked to was able to help me right away, I was never transferred on a call, or put on hold. The most I had to wait was a few minutes, but as soon as I got a person to talk to, that person was able to handle any question or comment I had.

    I owe next year (2017) to Consolidated Credit, which I am going to spend completely debt free, and have one of the best years of my life. I have already referred multiple people from my family members to friends, and will continue to do so in the future.

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    5

  9. User Score

    10

    July 30th, 2016 Georgetown, TX

    Answered all my questions,thank you.

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  10. User Score

    10

    July 29th, 2016 Basking Ridge, NJ

    The best decision I made! Always helpful and supportive. Friendly staff. I am not debt free! Thank you!

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    1

  11. User Score

    10

    July 28th, 2016 Sun City West, AZ

    Elizabeth helped me understand the process for keeping up-to-date with my accounts!

    Thank you so much.

    Carolyne

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  12. User Score

    10

    July 27th, 2016 Bethania, NC

    Your representatives have done an “above and outstanding job to make me aware of a problem that was occurring expense” that was going on with my Finger Hut account. I appreciate you so much and will be letting others know what an “Outstanding ” job you do!!!!!

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  13. User Score

    10

    July 19th, 2016 Cedar City, UT

    She was able to verify what was going on and was able to give me a clear solution. I am very happy with my experience that I had talking to her. Thank you. =)

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    2

  14. User Score

    10

    July 18th, 2016 Akron, OH

    Tatiana handled my concern very quickly and answered all my questions, very helpful.
    Thank You CC

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    3

  15. User Score

    5

    July 15th, 2016 Reseda, CA

    5 STARS

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    1

  16. User Score

    9

    July 13th, 2016 Fresh Meadows, NY

    Rep. was very helpful

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  17. User Score

    10

    July 12th, 2016 Nicholasville, KY

    Quick answers, very knowledgeable and polite. Enjoyed the comforting and reassuring conversation and service.

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    1

  18. User Score

    10

    July 11th, 2016 Roanoke, VA

    Customer service rep. was very helpful and seemed to know exactly what to do to help me. She was outstanding!!!

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  19. User Score

    10

    July 8th, 2016 Lake Ariel, PA

    She was very insightful and helpful

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  20. User Score

    10

    July 7th, 2016 Cliffside Park, NJ

    after many years I was setting up my last payment Today- i can’t believe i can finally say i am debt free!!! (well not including my student loans lol) this service has saved me and kept me on track when i didn’t think i would be able to pay all this off. THANK YOU SO MUCH! now to try and build my credit up wish you had a program or suggestions on how to do that like a part two to this.

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    1