8.2
Overall Score4 days ago
Consolidated Credit has helped clients hammer away millions of dollars worth of debt since 1993. Since opening, it has helped over 5 million 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 cost calculators, and articles on various financial topics. Consolidated Credit 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 the company, you can reduce your credit card debt by 30-50%.
The Good
- Years of Industry Experience
- Consolidated Credit Cost
- Great Interest Rates: Consolidate Credit Card Debt at 6 to 10%
- 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 over 20 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 consumer.
This includes a free review of the client’s current financial situation, credit report, and budget. This first credit counseling session can provide debt management strategies, budget advice, and ideas to improve bad credit.
If a debt management plan is the best solution, the company will design a repayment plan to fit the unique needs of the client. It provides a great alternative to debt settlement and debt consolidation loans while providing affordable monthly payments.
Consolidated Credit Cost
The company charges an upfront fee of $0 to $49 — this is a one-time fee. Consolidated Credit also charges a monthly fee of up to $69, a standard fee for debt management programs.
Debt consolidation 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 6 to 10%
Less regulated are the interest rates Consolidated Credit can negotiate with lenders. It 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 6 to 10 percent APR--one of the lowest rates in the industry. These lower rates equate to a smaller overall payment for credit card debt.
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 counseling services are available to people struggling with unsecured debt 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
Consolidated Credit 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 debt management plan services, yet felt they were able to walk away more knowledgeable about their best course of action after the consultation.
The Bad
- Monthly Fees
- Not NFCC Certified
- Limited Website Information
Monthly Fees
Although its monthly fee is not significantly high, it is pricier than the industry average. Consolidated Credit charges a fee up to $69, which is a little higher than some of the competition.
This is most likely offset by the monthly savings and the much lower interest rate it provides. While this higher fee may be worth the savings in the long run, it is worth noting to potential customers.
Both the upfront-fee and monthly fee rates are subject to the state where the consumer resides, who the creditors are, and the amount of money owed.
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 help ensures that customers are receiving quality services. While Consolidated Credit is not certified through NFCC, it is certified by other organizations, such as ISO and FCAA.
Limited Website Information
Though Consolidated Credit provides a robust amount of financial advice, it does not have much information about its actual credit counseling services and debt management plans available on its website.
Consumers are urged to call or apply online to receive more information. Online information 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 are impressive. Even on our own site, customers give Consolidated Credit a very high average rating. While one could dwell on the max $69 monthly fee, customers are overwhelmingly positive about Consolidated Credit. The company aims to improve consumer credit knowledge and help individuals pay off credit card balances.
Given that the company is available in all 50 states and has such positive customer reviews, we strongly recommend it to any clients with unsecured debt consolidation needs.
Call our recommended rep over at Consolidated Credit below.
1-(844) 720-3995
Disclaimer
As part of our service, we attempt to partner with all the companies that we review, and may get compensated when you click or call them from our site; however, regardless of any current, past, or future financial arrangements, companies listed on Best Company cannot buy their position, nor do we manipulate or inflate a company's ranking for financial gain. A company’s ranking is based on and calculated by an objective set of ranking criteria, as well as user reviews. For more information on how we rank companies, click here.
All user reviews posted on Best Company are subject to screening and approval. We reserve the right to approve or deny any review posted to this site in accordance with our Review Guidelines. Best Company never suppresses user reviews—unless they are being investigated for authenticity, or if they violate our review guidelines. We encourage anyone who suspects a user review to be fraudulent or intentionally inaccurate to please notify us here.
User Reviews
They were nice to talk with and no pressure. Very understanding and felt they could help me.
They have been nothing but exceptional in helping me through this whole process. Love everyone there. Very helpful and informative.
Great customer service. All questions answered. Thank You!
You were very helpful,but like I said I can't send any money to the credit card people and you too, there sending me texts now sending me late fee plus charging me more, that why I called you to help me
Consolidated Credit has been so helpful and they are very professional and friendly whenever I have called in for assistance. I highly recommend.
Professional and very helpful individual assisted me with my questions regarding balances.
It was rated highly on BBB list. The customer service rep Claudia was very helpful and caring. The enrollment was very easy. I look forward to working with them to become debt free within next 3 - 4 years.
Whenever I need to contact Consolidated, the customer service representatives are always friendly, empathetic, and knowledgeable. This has made the debt consolidation process much less traumatic. As always, thank you!
I would greatly tell others of your service. You have been very kind and helpful in answering all of my questions. Only recently I have a problem logging on. Three people have tried to help but no results.
Tatiana was great. Very thorough and helpful. A+
Patient and informative in answering my questions . Friendly customer service.
I called to get an update on my accounts. Tatiana was very helpful and friendly.
Cretia was very friendly and provided excellent customer service!
Great explanation of the services that would be provided to me. Did not at all get frustrated with my millions of silly questions. Very attentive, understanding and helpful
So far, I'm amazed! I was only seeking info, but I immediately signed up. In one day they have reduced my monthly payments significantly AND reduced my interest rates on three major, high debt, high interest credit cards to the point that I can have them paid off in four years. Previously, with the ridiculously high interest, I would have paid until I die (no joke; I'm 74 now)!
Very good company to deal with They explain everything to the T.
We used this company to help us consolidate our credit cards. They were so great to work with and would personally talk to creditors for us in certain situations. We are very happy we made the decision to go with this company.
I am very happy with the results on my credit cards that this company is helping me with. Lowing my interest rate it will help pay off my cards sooner and lower the monthly payments. I am very satisfied with this company .+
Great company. Takes a load off my mind concerning finances. Thank you.
Excellent service- they have been so helpful in every situation I faced
I was very disappointed. Reaching out for something like this is already a big step and was embarrassing. The woman I spoke to made me feel as if I was an inconvenience to her and was of no help. I really don’t think I would want to work with this company due to this experience. She was supposed to call me back in regards to my account and never did.
Reply from Consolidated Credit
Monica VictorSep 04, 2018
Dear Brooke, We endeavor to uplift and help people get out of debt and so we deeply regret that you were made to feel that way. We will look into the matter and will use your testimonial as training/retraining material to ensure that our customer service representatives deliver the very best service at all times. Please email [email protected] the name of the representative you spoke with. We agree that it takes courage to reach out for help. We’d like to put you in touch with a Senior Counselor for advice if you also email us your phone number. We’d love to help you achieve your goal but if you decide otherwise we understand and wish you well in all of your endeavors.
Efficient, kind and flexible staff. A pleasure to work with.
I was getting nowhere with my debt and needed help digging myself out of the hole I dug. I'm so happy I teamed up with Consolidated Credit to get my debt paid off!
Consolidated Credit has made it very easy to help clean up my credit problem. Thank you!
I called to see if consolidation would be a good idea for my debt situation. I several thousand dollars in credit card debt. The counselor I spoke with was friendly, knowledgeable, and very helpful. I was concerned about if there would be a high sales pressure pitch, but there was none, to my great surprise and amazement. Instead, he reviewed my situation, pulled a soft credit report (that would not go against my credit score), and recommended that I not consolidate, since my credit card APRs were well below what they were offering in their consolidation rate. (I have a 720 credit score, since I have no missed payments). He even recommended that I get my balances below 50% of each credit line, and then I could approach a credit union (better rate) again and have a much greater chance of getting a consolidation loan. He also explained the difference between a consolidation loan and other competing debt management products, like home equity line of credit versus home equity loan. If all of their counselors are like him, I would recommend them highly!
Very helpful and very polite people willing to work with u whenever you have a problem
Consolidated Credit has been a great company for me. I received an immediate phone call from Claudia S who reviewed my information and carefully explained the time and method it would require for me to be debt free. She immediately sent me easy to understand and complete documents to enroll in the process.
Tatiana was outstanding and I have a good understanding of your services and feel very good about my finances and credit moving forward! Well done!
Thank you for helping out; I actually called and hung up on the first person that answered (Cleveland) due to calculating my payment incorrectly. Thanks again for all the help !
Erika was a huge help in easing all my worries. She answered every question and explained everything very well. She made this process be more comfortable and less stressful.
you were very help full. just want to say thankoiu again. this make so happy that I pay off all the credit card after my hisband pass away thank you again a happy camper
I just spoke to Wanda T. She has been the only one that has taken the time to review my account and helped me get my accounts up to date being the fact I have been sending my monthly payments in two payment due to a life change event. I have called various times and no one but her has taken the time to disect my accounts and try to get all the creditors back on track. You should have her train others how to help your clients.
I spoke with customer service rep, Tatiana. She was very polite and helpful throughout the conversation. She was knowledgeable about the information I needed and was able to successfully take care of my issues.
Tatiana was one of the most helpful and friendly persons I have had the pleasure of working with. She help resolve all the issues I asked her about. She is a gem in your organization.
So far, I would give the company 5 stars for their great service and helpful people. I haven't begun with the payments to creditors yet and will see how that goes, but I am pleased with the way my consolidation has been handled so far.
they make you feel better about your self and not ashamed. they are helping my family.
I've always had a great customer service experiences with your company! A+ customer satisfaction!
There is always hope for everyone, and Consolidated is proof. I, as so many others, overextended myself by incorrectly assuming more credit cards means better credit. I was at my very last rung on the ladder and Providence sent me your solicitation. I opened up your email and decided to do this. I was shocked by the honest approach to fixing my credit issues, and life really by Consolidated Credit. EVERYONE I have spoken to has been so knowledgeable, professional and personable. I hope Samantha, and Mickey, and the initial contact receive this letter as an affirmation of just how they have changed my life for the better. You are all in my prayers as friends and my "credit fixing Angels"
Brian was very helpful. He guided me and helped with the info I need to add a new account and also changed of personal information.