7.2
Overall Score9 hours 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 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 (lower) monthly payment with the company, you can reduce your credit card debt by 30-50 percent.
The Good
- Years of Industry Experience
- Consolidated Credit Cost
- Great Interest Rates: Consolidate Credit Card Debt at 6 to 10 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 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 potential client.
Consolidated Credit Counseling services include a free review of 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 provides a great alternative to debt settlement and debt consolidation loans while providing affordable monthly payments.
The customization Consolidated Credit offers means that each client’s specific needs will be addressed and clients are helped in meaningful ways.
Consolidated Credit Cost
The company 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 up to $79, a standard fee for debt management programs.
Consolidated Credit bases its monthly fees on what a client can afford. Some clients may qualify to pay no monthly fee.
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 an Average of 0-11 Percent
Less regulated are the interest rates Consolidated Credit can negotiate with lenders, including credit card companies. 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 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 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 understand the best ways to manage their debt and what their consolidation options are.
In addition to helping clients consolidate credit card debt, Consolidated Credit counselors can help clients with debt from medical bills, payday loans, and more.
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 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 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 $79, 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. Potential clients should take advantage of the free consultation to learn specific cost information for their situation.
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.
However, this is likely because their programs are created based on client needs. Each client’s situation is different, so the programs vary accordingly.
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.
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 $79 monthly fee, most Consolidated Credit clients will have a smaller monthly fee payment. Customers are also 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 50 states and has such positive customer reviews, we strongly recommend it to any clients with unsecured debt consolidation needs. Consolidated Credit counseling services can review your financial situation, help you make a debt management plan, understand consolidating your debt, and even negotiate interest rates with creditors.
Call our recommended rep over at Consolidated Credit below.
1-(844) 720-3995
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User Reviews
Star Rating
520 Reviews
Review Breakdown
Sentiment Criteria
My experience was a pleasant one. The staff were always polite, professional and very helpful. Anytime I had any questions, they were very helpful and made sure my questions were answered.
Everyone was friendly to work with. Answered all my questions when I had some. Program worked.
The rep was very nice & patient. I could tell she was knowledgeable & broke everything down to where I could understand.
I’m overwhelmingly Pleased with the company , in fact I mention you all the time to others !! I told my daughter and she has been using your services just as long as I have and is about to be done now !!! We appreciate your help and love how you have worked with us to help us get back on track !! Thank You so so Very much !!
I had a wonderful agent that helped me today and her name is Samantha 🤗 She was sooo kind and very helpful. I love Consolidated Credit! Everyone I speak to is so nice!
There was not a time in over 2 years that an associate was not helpful. Everyone was so polite, kind and very helpful with any concern I may of had. They kept me up to date with accounts and amounts due !!! Thanks so much to everyone !!! I am happy to finally be debt free !!! Sincerely, Pamela
Professional, knowledgeable,clear and easily understood information about the whole process
The rep was amazing. Im pleased with the customer service and the job you do. Thank you.
Right off the bat I have two missed payments. I paid them on time (using auto-deduction) and here I am with late fees charged to my account. The person I talked to on the phone promised me I wouldn't have late fees because everything gets paid on time. That's some BS if I heard it. I contacted the company and hope I get a good answer back.
Reply from Consolidated Credit
Jun 05, 2019
Dear Sam, Customer service and client satisfaction are of utmost importance to us and so we deeply regret the rough start. Typically, during the sign up process we advise clients to keep making payments until we receive signed proposals back from creditors. While some creditors respond right away, others take longer to get back to us. We’ve reached out to our client services department to look into your account. If they haven’t already, one of our representatives will be reaching out to you in earnest. We appreciate you and wish you the very best on your journey out of debt.
Since signing on with them a few months ago, I have been very pleased and relieved. They have kept me informed of what they were doing every step of the process. And they are very friendly to talk to.
It’s been a very good experience. The representatives have always been friendly and helpful. Updating balances was tricky since it wouldn’t allow me to update some balances online and i have a toddler so it can be hard finding time to call.
Because of how informative they were with me in letting me know what my options are and all the support i am gitting from them ions
They are Always helpful, respectful and knowledgeable. Keep up great work have used them for years and will continue
On 5/6 i had called to make a change to my arrangement and Wanda exceeded my expectations and was able to make the changes that i needed. She was also very sweet and pleasant
May experience has been very rewarding. I appreciate your services tremendously!
Highly recommended, I went through very bad financial situation for years when I was paying just interest for my credit cards, Than finally I was blessed when I start the program with Consolidated Credit solution. Piece of mind. My life back. Thank you.
Very upfront, honest and most of all HELPFUL. Made me feel like there was a light at the end of the tunnel. Great program for people who fall into financial hardship
Absolutely the best service ever. Mark made me feel confident that I have chosen the best company to help me!! Thank you for your professional service and your help. Thank you!!!
to many Bill's and i need to have some kind of help with them, im working on my credit with lexington law and its going good
Tatiana was extremely helpful with my question and helping me with everything.
Great company! I never had any issues. I went to them when I needed help and they were able to help me.
Customer service is always friendly and when I did have a problem I was contacted and Tom stayed on the phone with me answering questions and going over everything in detail. I do wish that I had someone like him from the beginning to navigate the setting up process as it is confusing. In the beginning when they are negotiating with creditors and payments are just starting to get paid, there will be a period of time where your credit score will drop as consolidating all debts into one may cause you to miss a payment on your cards. It will get caught up, but you have to weather the setting up period. You will still get notices from your creditors even though your in the program from the beginning and your creditors may take time to update your statements online to show payments made even though Consolidated did make the payments. So be aware of that and if you are unsure call Consolidated and they will call your creditors even with you on hold to make sure payments are being made. They did that for me and Tom gave me a call and explained everything. It cleared up a lot of anger and confusion I had. The starting up process is confusing while you learn what is happening, but once you are in the program, it is worth it. It teaches you to use cash and not credit while it clears up and you do become better at managing your debt.
The representative was honest And understood why I needed to do it
Erika, that works for consolidated credit help me out today .Today is April 11th 2019 .She was wonderful and explained everything with patience. Ericka had alot of patience for me to ask all questions I needed to ask, Erica is a wonderful employee that I highly recommend to talk to. Ericka had the patience to answer every question that I had to ask and help me out in every possible way, thank you Ericka ,I greatly appreciate your help so much .I will greatly refer you to all my friends and people i know.I'm having a great experience with you guys helping me so much.If I could give you 10 Stars, I would.
The representative I spoke with today was amazing. Very prompt and helpful.
Consolidated credit claims to be non-profit but they take a fee every month and they call it a membership due they do not pay with the creditors on time I always paid them on time the only reason I joined was to try to get a lower interest rate cuz I called the creditors myself due to the fact that I was never late with them for years and tried to get a lower rate and they wouldn't and that wasn't fair so I called you guys to get a lower interest rate and you were able to get some cards on but not others and the ones you didn't get on the program still cancelled the cards and they still had to pay them separately at a high interest and the ones you did get on there I could no longer go online and check to make sure they received payment I had no way of knowing whether they receive payment or not and you paid them late I did get late notices from them and I never paid you late it came out automatically so I paid off everything in full about 8 months before the program would have ended so I could stop working with consolidated credit because It hurt my credit score not helped the people on the phone and the people through the messaging on my account or rude at times I found the program not as helpful as I would have liked I would have liked you to make the payments on time I would like more notification I would like that our access to pay more on the accounts to finish earlier I would like you to been able to either get all the credit cards on there or not have attempted to contact them if that was going to make them close the account but still have me make payments and you also closed my online account with you before all my creditors even receive payment and I would have liked to have been able to log online and see zero due to my creditors under your account and you didn't do that you also told me my payoff quote was higher than it was
Wanda was AMAZING!!!! She provided OUTSTANDING CUSTOMER SERVICE!!! Customer service like that is very rare!! You should be so proud having her at your team!!!🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟
Consolidated credit has helped me get my credit card debt in check and finances back on track. They continue to help me on a regular basis.
Friendly and helpful customer service - she helped call my creditors
I would leave 0 stars if I could but sense I can't, FDR gets 1 star by default. First off this program ruined my credit score. Dropped over 100 points in less than 3 months. If you are not behind on payments already, DO NOT USE THIS PROGRAM!!!!!!! This is literally the only thing that kept me and my wife from getting our first home. Not only has it ruined my credit score, it has also ruined my marriage. Worst thing I have ever done I have ever done in my life.
Reply from Consolidated Credit
Apr 10, 2019
Hi Matthew, We think you have the wrong company. We are not FDR. Here at Consolidated Credit we help clients get out of high interest rate credit card debt. Because clients are making consistent and timely payments on their credit cards, they usually report a boost to their credit score which enables them to qualify more easily for credit. We invite you to read some of these success stories here: https://www.consolidatedcredit.org/debt-stories/. We’re sorry to hear of your financial and marital woes and wish you the very best in your financial and personal life. Best wishes on your journey out of debt.
Everyone is friendly and supportive. No one makes me feel less than. Questions are answered and explained.
Miguel helped us more than anyone. We finally got our AutoPay done now on to clearing our credit card debt.
I like the customer service ,they are knowledgeable and patience . Never have they got a bad attitude for my mistakes.
Very polite and helpful. Julian answered all of my qusestions with direct information.
They know their business and were very easy to work with. Gave me a comfort level about my debt and abolishing it that I haven't had for a long time.
Tatiana was very professional and very helpful. She was delightful to speak with.
Brian is awesome. He answered and gave me detailed informationa
Great customer service! Always very knowledgeable and helpful. I’ve never once had a poor experience with this company as I’ve gotten more and more OUT OF DEBT!
My CSR was very helpful and knowledgeable and she abled to solution my problem.
Excellent solutions. for my credit card debit. thanks, ConsolidatedCredit.
The Rep's at Consolidated have been friendly and very informative. All of my questions are answered to the fullest.
Henry, the Client Rep who contacted me, was extremely helpful. He identified my need and explained and executed a change which I requested to increase the payment made to my last remaining credit card account. I have been a member of this program since 2014 and have paid off multiple credit accounts over the years. I incurred most of this debt when I purchased an FHA repo'd house which needed a lot of work. My home is now worth over twice the purchase price, and I am just about debt-free thanks to Consolidated Credit!
I spoke with Leslie. Ms Leslie stayed on the phone with me until I was completely satisfied that my concerns had been completely addressed.
I've never had a problem with Consolidated Credit. They ensure my payments are made on time, they keep me updated with any changes to my account, and their customer service hotline has the kindest, most helpful agents. I trust this company and I'm grateful for their services.
From the very beginning of the contact with Consolidated’s excellent financial counselor, Ms Sharon M, through the process of getting set up and on to the future of debt freedom, the representatives I have have spoken with are superior. Thank you!
Everything has been explained to me very well very good detail
What a great company! They worked with me the whole time.
They are always there when you need their help. Very prompt and through!
Consolidated Credit has made it easier to pay off my credit card debt. Customer service is always helpful and friendly.
Today I spoke with an excellent representative who revised my plan which I requested