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Consolidated Credit

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8.2

Overall Score

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LAST UPDATED: May 23rd, 2023

Consolidated Credit has helped clients hammer away millions of dollars worth of debt since 1993. Since opening, it has helped millions of customers with debt issues and is one of the largest credit counseling agencies in the United States. The company boasts highly competitive interest rates, industry accreditations, and a positive reputation with online customer reviews.

Consolidated Credit also offers educational resources to improve its customers' financial literacy, particularly regarding credit cards and debt. Some of these resources include webinars, debt-to-income ratio and credit score calculators, and articles on various financial topics. Consolidated Credit also offers a community outreach program to provide financial education in addition to consolidating debt for its clients.

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 monthly payment with the nonprofit organization, you can stop worrying about penalties for late payments and reduce your total credit card debt by up to 30-50 percent. However, you should know up front that while Consolidated is a debt consolidation company, it does not lend money as part of its debt consolidation program.

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The Good

  • Years of Industry Experience
  • Consolidated Credit Cost
  • Great Interest Rates: Consolidate Credit Card Debt at 0—11 Percent
  • Available to All
  • Accredited Company; Certified Staff
  • Positive Customer Reviews

Years of Industry Experience

Consolidated Credit is one of the oldest names in the industry, having accumulated nearly 30 years in business. During that time, it has built a reputation for total professionalism, offering CPFC-certified debt counselors and free debt consultations for potential clients.

Unlike debt consolidation companies offering personal loans, Consolidated Credit is a credit counseling agency. The company’s certified credit counselors perform a free evaluation to help determine the best debt relief option for each potential client.

Consolidated Credit counselors conduct a counseling sesion where they review the client’s current financial situation, credit report (credit history and credit score), and budget. This first credit counseling session can provide debt management strategies (e.g. making more than the minimum payments on your credit cards), budget advice, and ideas to improve bad credit and eliminate debt.

If a debt management plan is the best solution, the company will design a repayment plan to fit the unique needs of the client. A debt management program is a great alternative to debt settlement and debt consolidation loans while providing affordable monthly payments.

The customization of Consolidated Credit means that each client’s specific needs will be addressed and clients are helped in meaningful ways.

Consolidated Credit Cost

Many consolidation companies charge an enrollment fee and a monthly fee for their services. Consolidated Credit charges an upfront fee of $0 to $49 — this is a one-time, account set-up fee. Consolidated Credit also charges a monthly fee of between $0 and $9 depending upon debt amounts, number of creditors, state regulations and budget constraints.

Consolidated Credit also bases its monthly fees on what a client can afford. Some clients may qualify to pay no monthly fee.

Debt management is a government-regulated industry. As a result, most companies charge similar prices, though fees vary by state. Consolidated Credit is no different.

Great Interest Rates: Consolidate Credit Card Debt at an Average of 0–11 Percent

The interest rates that Consolidated Credit can arrange with lenders, including credit card companies, are less regulated. The company works with creditors to help clients achieve the best possible deal.

The company claims to get credit card interest rates down to an average of 0–11 percent APR — one of the lowest rates in the industry. These lower rates equate to a smaller overall payment for credit card debt and less interest.

Available to All

Each state has its own unique debt consolidation rules. For this reason, not all consolidation companies have their services available nationwide.

Consolidated Credit follows the state laws in every state, and its counseling services are available to people struggling with unsecured debt in every U.S. state. Consolidated Credit works to help people understand the best ways to manage their debt and what their consolidation options are.

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 a member of the FCAA, which is an important organization that ensures companies offer the best debt relief.

Positive Customer Reviews

Consolidated Credit reviews frequently cite the staff's professionalism and overall quality customer service. Many of the reviews commended Consolidated Credit 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 Credit's debt management plan services, yet felt they were able to walk away more knowledgeable about their best course of action after the consultation with a credit counselor.

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The Bad

  • Not a Loan Company

Not a Loan Company

Consolidated Credit is not a loan company, so you cannot receive a debt consolidation loan from the company if you determine that debt consolidation is the best route for you. You can meet with a credit counselor from Consolidated Credit, but if you want to participate in a debt consolidation program, you will have to go through another debt relief company.

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The Bottom Line

Consolidated Credit's lengthy track record, pricing, service level, and expertise are impressive. Even on our own site, customers give Consolidated Credit a very high average rating.

Customers are overwhelmingly positive about Consolidated Credit. The company aims to improve consumer credit knowledge and help individuals pay off credit card balances through a personalized management program and consolidating debt.

Given that the company is available in all states and has such positive customer reviews, we strongly recommend it to any clients with unsecured debt consolidation needs. If you want to consolidate your debt into one monthly payment through a debt management program instead of with a consolidation loan or personal loan, Consolidated Credit is a great option.

Consolidated Credit counseling services can review your financial situation, help you make a debt management plan and understand consolidating your debt, and even negotiate interest rates with creditors. Consolidated Credit's relief services can help you stay on top of payments, avoid filing bankruptcy, and get you on the path to becoming debt-free.

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Consolidated Credit Frequently Asked Questions

What types of debt can someone include in a debt management program?

A debt management program is meant primarily to pay off high-interest rate credit card debt. One of the primary benefits of working with a nonprofit credit counseling agency is that it works with a client’s creditors to reduce or eliminate interest charges applied to the debt. That’s most beneficial with high-interest rate credit card balances. However, it may be possible to include other types of debt, including unsecured personal loans, medical bills, collection accounts, and payday loans.

Which credit cards can be included?

Consolidated Credit works with all major credit card companies, as well as major retailers, banks, and credit unions. In total, the company has established relationships with over 1,600 creditors. A consumer can include general-purpose credit cards, charge cards, gas cards, reward cards, and store cards in the program. Consumers are not required to enroll all their cards in the program. If a client decides to leave a card out, they can add it later during the program.

Is this a loan?

No. A debt management program is like a professionally supported repayment plan. The client still owes their original creditors when they enroll. Clients make one payment to Consolidated Credit each month and that payment gets distributed to their creditors every month on schedule.

Does this credit counseling service pay off credit cards?

Credit cards will be paid-in-full as a client completes the program. However, the credit counseling service itself does not pay off the individual’s credit cards for them. As a client makes monthly payments, Consolidated Credit disburses the funds to creditors on an agreed schedule. As a client makes payments to Consolidated Credit, the balances on their credit cards will decrease over time. Individuals can monitor monthly credit card statements and see the balances getting paid off. These payments will also be noted in the payment history of each account on the consumer’s credit report.

What are the fees?

Receiving a debt and budget evaluation from a certified credit counselor is always free. Consumers can talk to a qualified professional about their situation and ask questions to understand their options for relief. If someone qualifies for a debt management program, there is a one-time setup fee and a small monthly fee rolled into the program payments. Fees for debt management programs are set based on the total debt, budget, and the state where a client lives. They are capped at $79 nationwide, and the average client pays $49.

How does this program affect someone’s credit?

Enrolling in a debt management program does not generate any negative items in a consumer’s credit report. It helps avoid the 7-year to 10-year credit report penalty that you see with solutions like debt settlement and bankruptcy. For most people, completing the program has a positive or neutral credit score effect. While a person is enrolled, they generate positive credit history on all the accounts included in the program. Creditors will generally bring delinquent accounts current once the client makes three payments.

How is the interest rate determined?

When someone enrolls in a debt management program, Consolidated Credit works with each creditor to reduce or eliminate the APR applied to their account balances. On average, rates are reduced to between 0%–11%. This is often much lower than what a client would be able to negotiate with a credit card company if they contacted them individually.

Is this different from debt settlement?

Yes. A debt management program works by paying back everything that someone owes at a reduced interest rate. The principal is paid in full. By contrast, debt settlement only repays a percentage of the principal. Debt settlement also creates negative items in a consumer’s credit report that remain for seven years from the date the remaining balance is discharged. Each account settled will be noted in the consumer’s credit report. A debt management program does not generate any negative items. The payment structure is also very different. While a consumer may make monthly payments on a debt settlement program, those payments are placed into an escrow account to generate the funds necessary to make settlement offers. Creditors are not paid each month, which can lead to missed payments and even greater damage to the consumer’s credit.

What happens if someone can’t make the payments?

A debt management program is 100 percent voluntary. If a client drops out of the program, all payments made up to that point will still be credited to their accounts. However, creditors may choose to restore the previous interest rate and reapply any penalties that were stopped when the person enrolled.

Can someone still get a loan (mortgage/auto) while enrolled?

Yes. A debt management program does not prevent someone from getting loans while they are enrolled in the program and paying off debt. It is possible to get approved for loans like a mortgage or an auto loan while enrolled, so there is no need for life to be put on hold while someone is paying off their debt. A client will not be able to get new credit cards while enrolled.
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Star Rating

4.8

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1,156 Reviews

Review Breakdown

5 grade

86%

4 grade

9%

3 grade

2%

2 grade

1%

1 grade

3%

Sentiment Criteria

Value

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Service

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Luis Suarez Millville, NJ

Quick and Very knowledgeable. Friendly also. Big help. I asked certain questions and they had the certain answer i was looking for. Very professional!

7 years ago

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Jennifer Boccella Raleigh, NC

Sebastian was a great help to me! He was able to give me all the information I needed as well as adjust my payment. I really appreciate all his assistance! Thank you!

7 years ago

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Ann Nizzardi Williamstown, NJ

Everytime I called Consolidated Credit I received courteous, pleasant service.Since the start, everyone has treated me with the utmost respect.Thank you to all. Tatiana, Sarina, etc. You took this nerve racking, embarrassing time and helped me relax and trust your expertise. Thank you for EVERYTHING!

7 years ago

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Diane Hulliberger Mason, MI

Everytime I called they were always very nice. No matter how many questions I would ask they always answered.I highly recommend them.

7 years ago

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Kevin King Pearland, TX

My experience was so quick and easy that I'm sure that the entire revision of my account took less than two or three minutes tops! It is fantastic when,as a customer, you don't have to explain yourself over and over to have your concern addressed properly. Thank you very much. I am completely satisfied with your service!

7 years ago

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Lisa Moyer Palm Coast, FL

Had some problems with a housing loan and I got the documents quickly to help with my process

7 years ago

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Paula Williams Milwaukee, WI

Very professional and did everything she could to help me get a solution. Very organized, compassionate and helpful.

7 years ago

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BOSTONGIRL Woonsocket, RI

I would recommend these guys to anyone. I've been in the program for almost a year, and the and support has been phenomenal. It's so easy to get signed up, its painless and super fast and the team is super understanding! If you are feeling overwhelmed by your monthly credit card payments/debt, or you are in the "making minimum payments and not getting anywhere with your debt" rut like I was, then this program is for you! I wish I came to them sooner, I really really do. Thanks again Consolidated Credit!

7 years ago

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Richard A. Ebinger San Francisco, CA

I am so completely satisfied with your staff and the way that your company does business and handles their clients. It is painless and very efficient, not to mention, a rewarding experience, knowing that I'm being treated well and getting the best possible service I've ever had from a company like yours. I would not hesitate to recommend my friends and relatives to you. Thank you again, for being so professional and getting things done in a timely manner. Sincerely, Richard A. Ebinger

7 years ago

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L. June Schneider Lithonia, GA

I received friendly, professional help and valuable information. Tatiana went above and beyond by making phone calls to get current account information for me as I waited on the phone. I appreciate her helpfulness!

7 years ago

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Diane Roseville, MI

Consolidated Credit Is an awesome company who are helping to illuminate my debt. They are professional knowledgeable and courteous and get the job done!

7 years ago

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Abdul Alhassan Jersey City, NJ

Excellent customer service, knowledgeable staff and prompt service

7 years ago

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Adebusayo Brooklyn, NY

I have been so relieved to not have the stress of debt collectors calling my phone non-stop. Everything's in the consolidators hands and I can breathe easy!

7 years ago

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Wayne Kuphal Wakefield, RI

I enjoyed speaking with you. Even the time I put on hold it DID NOT seem I was forgotten and I appreciated that very much. We discussed two questions and I believe we resolved them down to a plan of action for me. Thank you

7 years ago

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Caroline cuccolo Maplewood, NJ

Made it very clear and easy to follow instructions and was also very nice

7 years ago

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Elizabeth sawyer Cheshire, CT

They are always there to help and they always keep you informed with your account. Thank you for helping us get out of debt! Liz S

7 years ago

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Alex Chachula Peoria, AZ

Fantastic customer service, I always receive the information I am looking for, great Job everyone!

7 years ago

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George Anderson Phoenix, AZ

Polly from Consolidated Credit did an exceptional job in handling my final payoffs and in explaining what was to follow.

7 years ago

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FREDERICK A MURRAY Poughkeepsie, NY

"VERY EASY TO TALK TO AND SHE EXSPLAINED EVERY THANG CLEARLY TO ME

7 years ago

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Gerard Kreft Parkville, MD

Had the answers before I asked the questions. Smooth service. Thank you

7 years ago

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Isabel Maddox Florence, MS

Very helpful Well explained Very clear Tatiana is an asset to this team!!

7 years ago

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Tania Mabank, TX

Seeing the biggest debt disappear...Priceless. Great service, great results.

7 years ago

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Zenaida Hernandez Miami, FL

Arielle was very knowledgeable and helpful today. She is truly knows her job and had patience with me. She explained in detail what I should do to make it easier for me. She promptly sent me the information she promised.

7 years ago

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Angie Peabody, MA

I have experienced the most professional customer service and every person that I've encountered has been pleasant, helpful and very caring. I can't say enough regarding their professionalism.

7 years ago

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Jorge Gaabino Miami, FL

Very efficient services were rendered during our membership. All our debt was carefully planned out, scrutinized, and paid in a timely fashion. I managed to pay off all my debt and so I had to lose our account but am happy to say that one company was too much for me to pay at once but the company gave me the opprtunity to pay off long term at 0 percent interest because of Consolidated Credit. Thank you for a job well done.

7 years ago

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John Maxwell Los Angeles, CA

Consistently helpful service is the foundation upon which Consolidated helps its customers find their way out of debt.

7 years ago

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Elaine Lam Monterey Park, CA

Tatiana is very helpful. She is very friendly and explained to me every details

7 years ago

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Barbara & Todd Keith Hamilton, OH

Very helpful with our consolidated credit account in answering questions & discussing payment options. Thank you!

7 years ago

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Siobhan Foxboro, MA

Just spoke with Bonita by phone about questions that I had about updating my credit card account balances. She was professional and answered my questions with patience. Her sense of humor was also appreciated. I am so thankful for your service. When I discovered Consolidated Credit I was in a lot of debt and also had a spouse who was unemployed. I felt like I was in a black hole that I would never get out of. Consolidated Credit was highly recommended on the internet by a well know financial magazine and I have not been disappointed! For my part, I keep track of my credit card account balances and make sure they are decreasing. All the service representatives I have spoken to are extremely helpful.

7 years ago

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samuel jefferson Detroit, MI

She was on point with the info i needed and she also had great news about my account

7 years ago

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Valerie Boice Carson City, NV

solved my questions in a professional manner, very pleasant.

7 years ago

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Shaw Ali Ozone Park, NY

All my problems were solved when i called the agent,she was very helpful and proffessional i love to dealwoth CCS. SHAW ALI

6 years ago

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Jerry Adams

Catrina, I thank you very much for understanding and helping me with the situation that I spoke to about. you were very efficient and professional.Thank you and Consolidated Credit. Client- Jerry Adams

6 years ago

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M Sales Harrison, AR

I could not have asked for a better experience today when I called to add some accounts to our consolidation. Juan was very patient and helpful and walked me through the whole process. I now feel like the weight of the world is off our shoulders and that there is a light at the end of the tunnel!

6 years ago

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Lori H Houston, TX

Bob was professional, courteous & encouraging. Great experience!

6 years ago

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colleen fonts West Palm Beach, FL

Great customer service and pleasant follow up.

6 years ago

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george bradley Phoenix, AZ

Arielle was super helpfull. she took the time to resolve a complex problem. Really appreciate this outstanding level of customer support.

6 years ago

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Lesley Castillo Duluth, GA

The reason for my call today was because the representative that is handling my case(Andres Castro) wasn't returning my calls. when I first called he was rushing through everything I couldn't quite understand what was going on. Bottom line is that he had given me an amount I was going to pay but then received three other letters with all different amounts. When I called Diana, she was of a GREAT help! I loved the way she broke everything down to me and I didn't feel rushed! I was very satisfied with her service. Thank you!

6 years ago

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Ronald Ligon Augusta, GA

Bob was very helpful and helped me understand how the procedure of consolidated credit. He also commended me for how far I came working with my debt.

6 years ago

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Brad Huot Derry, NH

Tatiana was amazingly helpful

6 years ago

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J-J Dennison Longmeadow, MA

Serena was a great help to me, very very nice and accomidating Wish I could have her all the time, everyone is nice but she is exceptional

6 years ago

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Judy McClain Evansville, IN

This company is great! Thanks to Polly, today I added my last 2 credit cards to my account. She knew what she was doing and was helpful and fun to talk to. I started with this company in August of 2013 with Tricia Earles. She also was great. I have found that all the bad things I had heard about debt consolidation were wrong. Yes, it costs me to do this but I can now sleep at night. Less or no interest has helped me so much. Keep up the good work, and again thanks for your help.

6 years ago

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Anjelica Salt Lake City, UT

Bob was very helpful going over my account with me very satisfied with the customer service would recommend this company to friends and family

6 years ago

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Anne Marie Fierst East Hanover, NJ

In the three years that I've been dealing with Consolidated Credit, I've had only good experiences! I'm happy to say that my debt is 80% gone and my credit score is on the rise! Customer service personnel are always so pleasant and helpful. I highly recommend Consolidated Credit!

6 years ago

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Pepper Alexander Reseda, CA

I am hundred percent satisfied with your customer service department this is why I am giving your department a %100 rating. Thank you for help me in this matter on hand, happy Independence Day

6 years ago

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Thomas Alderman CO

The customer service has been stellar during my 4 year journey with Consolidated Credit. I recently spoke with a representative to make arrangements for my final payment. I would recommend Consolidated Credit for anyone how is overwhelmed with credit debt.

6 years ago

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Jeff Oster Fort Lauderdale, FL

Excellent customer service Friendly and patient.

6 years ago

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Amie Santa Fe, NM

Wanda was absolutely fabulous! She was very sweet and understanding. Took the time to get my account back up and running and answered all of my questions perfectly!!

6 years ago

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Elias rosa FL

Customer services is the best. Every time I call I'm satisfy 100% with my needs. Thank you!!

6 years ago

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Kelli Tavano 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.

6 years ago