1. Consolidation Plus
error This company may not service all states.

Consolidation Plus offers unsecured personal loans that help those in certain debt settlement programs pay settlements sooner than they might have on their own. The program is available on an invitation-only basis to clients of certain debt settlement providers. Once you’ve finished debt settlement, you make monthly payments on your Consolidation Plus loan.

The Good

  • Loan Terms
  • Loan Approval
  • Potential to Help Rebuild Credit

Loan Terms

Consolidation Plus offers unsecured personal loans to help with the debt settlement process. Unsecured personal loans have no collateral tied to them. For example, a car loan is a secured loan because the lender can repossess your car and sell it if you are unable to make payments.

Because unsecured loans have no object attached to them, the interest rates tend to be higher than interest rates for secured loans, such as on a house or car.

The loan interest rates for Consolidation Plus’s unsecured personal loans is a fixed 22.9 percent interest rate, so the rate does not change during the term of the loan. The APR will vary for each customer since the origination fee is a percentage of the loan amount, and the loan amount varies based on the amount needed to settle all your debts in the program. To get a loan, you must be invited, apply, and be approved.

Consolidation Plus loans typically have a term length of 24–60 months. The average length is 55 months. Consolidation Plus loans fall between $5,000 (varies by state) and $65,000. Loan amounts are based on what the debt settlement company needs to settle your debt. Once your settlement program is complete, you’ll need to make payments on your Consolidation Plus loan until it is paid off.

Loan Approval

If you’re in debt that has affected your credit score, you may have already had difficulty qualifying for a loan because of your credit score.

While Consolidation Plus considers your credit score, it does not weigh it heavily when approving applicants for loans. It may be easier to get approved for a personal loan from Consolidation Plus if you’ve been unable to get approval from other lenders.

Potential to Help Rebuild Credit

Not paying off debt hurts your credit score. The debt settlement process can also have a large, negative impact on your credit. Many debt settlement clients stop making even minimum payments on their debts when they enroll in a debt settlement program.

Withholding payments can incentivize creditors to settle. Generally, debt settlement clients set aside the money they would have spent on making payments into a bank account to be used to pay settlements when they are reached.

Since you’ll have a loan to pay off once you finish your debt settlement program, making timely and regular payments on your Consolidation Plus loan may help you rebuild your credit. Keeping to your loan’s monthly payment schedule shows that you’re a dependable borrower who meets your financial obligations. This will have a positive effect on your credit score.

The Bad

  • Finishing Settlement Won’t Mean Being Debt Free
  • Limited Service Area

Finishing Settlement Won’t Mean Being Debt Free

If you take a personal loan from Consolidation Plus, you may be able to pay settlements faster. However, you won’t be out of debt because you’ll have a new loan from Consolidation Plus. You won’t be out of debt until you’ve completed repayment on your personal loan.

If your primary goal with your debt settlement program is to be debt free, it may be worth completing the program at a slower pace. However, if you’d like to work to rebuild your credit score sooner, a Consolidation Plus loan could expedite the process.

You should be aware that you’ll still have to pay the debt settlement company their settlement fees, and these fees will be rolled into the loan. So using a Consolidation Plus loan means that you’ll pay interest not only on the settlement amount to creditors, but on the settlement fees as well.

Limited Service Area

Consolidation Plus offers unsecured personal loans in 36 states and Washington, D.C. However, Consolidation Plus loans are offered by invitation only and are only available to clients of certain debt settlement companies, like Freedom Debt Relief.

The Bottom Line

If you’re in a debt settlement program and want to complete it faster, an unsecured loan from Consolidation Plus can be a good option. It offers 2–5 year loan terms, fixed interest rates, and personal loans ranging between $5,000 and $65,000.

However, it’s important to consider how much interest you’d pay on your new consolidation loan, including interest on the debt settlement fees. Understanding both of these amounts will help you know how much money you’re spending on getting out of debt.

You should also evaluate the loan's repayment terms. Knowing the repayment terms and understanding how much you'll spend to get out of debt will help you decide whether a Consolidation Plus loan is a good fit for your financial situation.

Taking an unsecured personal loan to finish your debt settlement program faster can help you start rebuilding your credit sooner. If that’s something you’re interested in, and you’re invited to apply, it’s worth investigating further.

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User Reviews

Star Rating

4.9
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78 Reviews

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Janie Avery-Rivas

September 25th, 2020 Downey, CA DETAILS arrow_drop_down
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They took care of everything, answered all my concerns. Walked me thru the entire process. Very Happy with the results. Saved me a lot of money.

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Anne Gago

September 16th, 2020 Riverside, CA DETAILS arrow_drop_down
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They are fair in their letting you know if you were approved for a loan.

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Prince

September 11th, 2020 East Stroudsburg, PA DETAILS arrow_drop_down
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They have been extremely helpful though out this COVID experience. I will be forever great full

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No Name

September 9th, 2020 El Paso, TX DETAILS arrow_drop_down
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Good Company, very good service, and employees are very helpful when contacting them!

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Roy Garcia, II

August 27th, 2020 Edinburg, TX DETAILS arrow_drop_down
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Consolidation Plus made me feel like I was their only customer. Michelle C was courteous, extremely helpful, sincere, and professional. Thank God Consolidation Plus was able to work with me and meet my needs. 🙏🏼

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Maria Fontanez

August 22nd, 2020 Hamburg, PA DETAILS arrow_drop_down
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Consolidation Plus was wonderful in working with me during this pandemic and loss of work . They allowed me to miss some payments to help me get through the loss of work and also helped me change my pay date. Everyone I spoke with throughout my rough time was courteous , understanding, and helpful.

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Eric Sparks

July 30th, 2020 Olive Branch, MS

I like everything except the exorbitant interest rate and a plummeting credit score! Lol

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Deborah Johnson

July 28th, 2020 Sault Ste. Marie, MI DETAILS arrow_drop_down
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Consolidation Plus is very easy to work with. The representatives I have dealt with have been helpful, friendly and sympathetic to my situation.

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Gerardo Caban

July 25th, 2020 Port Richey, FL DETAILS arrow_drop_down
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My experience with Consolidation Plus was amazing. They made me feel comfortable they also made the whole process very easy to help me pay off all my debt. I finished with the program few years back and I have to say it was the best decision I ever made joining Consolidation Plus. They also made it very easy and affordable to pay of my loan. I have at least 2 years left to go. I would definitely recommend consolidation Plus to my family and friends.

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Shari Hunsaker

July 24th, 2020 , DETAILS arrow_drop_down
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This company has worked diligently as my partner in reestablishing my credit health. Without exception every employee with whom I have interacted has been professional and compassionate.

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Joel Gilbert

July 13th, 2020 Birmingham, AL DETAILS arrow_drop_down
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Clear, easy to understand loan information and easy access to support when needed.

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Mary Cuevas

July 10th, 2020 South Bend, IN

This company has been very helpful for us I really appreciate them. Thank you for all your help. Would recommend it to family and friends.

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JLB

July 9th, 2020 El Paso, TX DETAILS arrow_drop_down
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All employees are always very kind and courteous.

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Stephen Gastineau

June 29th, 2020 Tustin, CA DETAILS arrow_drop_down
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My wife and I had a credit card debt, which became unmanageable due to age and illness. Consolidated Plus loaned us the money to pay banks. In a few more payments, I will be debt free.

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Kevin Griggs

June 22nd, 2020 Salt Lake City, UT DETAILS arrow_drop_down
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I was deeply in debt, no where to turn, and then I found Freedom Debt Relief and Consolidation Plus. They took my debt, started working on them and as long as I stayed true to my commitment they eventually assumed my debt, paid off what I owed and now I am successfully paying my loan off and feeling great.

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Lisa

June 20th, 2020 Ephrata, PA DETAILS arrow_drop_down
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Very professional but, also very caring and easy to work with.

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Daisy May

June 19th, 2020 Minneapolis, MN

The customer service representative was very professional and nice during our phone conversation.

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Ed Hansell

June 16th, 2020 , DETAILS arrow_drop_down
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i had signed up with freedom debt relief to get control of my debt and was slowly but steadily resolving my debt when i was offered the chance to settle all my debt quickly and start on a new path to better credit . i was offered an opportunity to use Consolidation Plus to settle all my debt and then have only the one payment to them and not have creditors calling me about outstanding debts it was quick and easy setup with them and have been very satisfied with their services

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Tony Bell

June 14th, 2020 Philadelphia, PA

very helpful. Easy to talk with. Always available

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Amaripino castro

June 13th, 2020 Pacifica, CA

I have excellent experience. Good customer service. Thank you.

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BEVERLY SPENCER

June 6th, 2020 San Mateo, CA DETAILS arrow_drop_down
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Affordable payments. Very kind and professional representatives. Very knowledgeable emplyees.

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Christine Andrejko

May 30th, 2020 Wilkes-Barre, PA DETAILS arrow_drop_down
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Customer Rep. was very knowledgeable, professional and polite. I understood all that she was telling me. She made my day!!!

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RACHEL M MAILLOUX

May 30th, 2020 Orlando, FL DETAILS arrow_drop_down
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This is an excellent company. They did what they said they would. They are helping me get out of debt. They get the creditors to lower there balances & then they pay them off for yu.

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Deborah

May 29th, 2020 Springfield, MA

What I like about this company is it understand your situation and really try’s helping to the best ability of your and there’s

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Steve Idol

May 27th, 2020 Brownsburg, IN DETAILS arrow_drop_down
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I was overloaded with credit card debt, I seen no way out of it. Making minimum payments each month was all I could do and the next 30 years looked bleak. Until I contacted Consoldation Plus. They were able to pay off my debt and offered me a way to eliminate that debt in less than 4 years. No, it is not easy but the reality of making payments the rest of my life wasn’t going to be easy either. I have 6 months left and my debt will be paid off. My credit rating has went up 100 points since starting this process. Don’t put it off any longer, let Consolidation Plus show you how they can help you get back on track financially and increase your credit worthiness.

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Paul R Laska

May 21st, 2020 Stuart, FL DETAILS arrow_drop_down
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My rating would have been 5 stars, except for a burp that caused some problems. A third party that Consolidation Plus used to negotiate with creditors misrepresented the nature of the settlement as complete, when it was actually understood by the creditor as a payment. When the issue arose, Consolidation Plus stood up, renegotiated the settlement, and got the matter closed with no harm to me. I appreciate all the work conducted by Consolidation Plus.

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Clark R Eveland

May 17th, 2020 West Chester, OH DETAILS arrow_drop_down
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EASY TO DEAL WITH, ABLE TO UNDERSTAND THE PROCESS, VERY HELPFUL, AND WILL ANSWER ALL QUESTIONS

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Peter P Soares

May 16th, 2020 Las Vegas, NV

as far as personal contact I had a close contact with FDR and that is what I want with consolidation plus. anything on my mind or any questions I have I just send an email or just get on the phone and speak to a rep. I need a quick response . Thank you.

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grimvann

May 11th, 2020 Fresno, CA DETAILS arrow_drop_down
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They are very understanding of my concerns and answers my questions very clearly even if they need to repeat them. They also help guided me through the process and make sure I understood each steps.

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Cara Stallman

May 7th, 2020 Daphne, AL DETAILS arrow_drop_down
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This company helped me face by debt and in 2 short years I have a promising financial future.

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Julie Reed

May 3rd, 2020 Minneapolis, MN DETAILS arrow_drop_down
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They got me the financial help I needed very quickly!!

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Steve

May 2nd, 2020 Saint Paul, MN DETAILS arrow_drop_down
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I was unsure that I was making the right decision when I contacted Consolidation Plus. I was underwater in my credit card debt. But they walked me through the process, negotiated with the creditors & set me up with one simple monthly payment. After 2 years; my debt has been cut in half! It’s simple, it’s easy to do & you’ll get that fresh start that everyone wants! Thanks to Consolidation Plus, life is a whole lot better!

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Allan Miles

April 28th, 2020 Palmetto, FL DETAILS arrow_drop_down
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This company is A+ with me. It's easy to send in monthly statements and other transmissions received from creditors. They are always available to answer any questions I may have or discuss any concerns I may have. A First notch corporation.

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Ricardo Gutierrez

April 26th, 2020 Houston, TX

What I like the best is that they make it really easy to understand everything about my account

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Lolah Pease

April 23rd, 2020 Davison, MI

Things were taken care of Fast and done in no time at all I’m a very Happy person , All the people that I talk with was so understanding and Explain everything I needed to do and Know . Thank You .

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Robert M Roder

April 20th, 2020 Pompano Beach, FL DETAILS arrow_drop_down
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Excellent Customer Service Able to work with me and provide confidence and assure outcomes With me every step of the way

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Kevin Wall

April 18th, 2020 Fort Walton Beach, FL DETAILS arrow_drop_down
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They really helped me out. I was floundering with what to do with all of my credit card debt and they showed me a way to defeat this. My credit score has already went from a 602 up to a 708 in less than a year. Thank you Consolidation Plus..

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Christina L

April 14th, 2020 Clearwater, FL DETAILS arrow_drop_down
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It's been easy to work with them and have the payment arrangement taken out biweekly to reduce my debt.

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Donald E Brandt

April 12th, 2020 Findlay, OH DETAILS arrow_drop_down
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They did exactly what they promised to do in helping us get out of debt. they even got it done sooner than we thought would happen.

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Maria Echevarria

April 12th, 2020 Norwood, MA DETAILS arrow_drop_down
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The program works. I’m happy my score is back up since last year . They are flexible n understand they work with me anytime I got stuck with a payment I can’t thank you enough for this good and smooth experience !

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Reba Robinson

March 28th, 2020 Grove, OK DETAILS arrow_drop_down
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You helped me out in my time of need. Made my life so much easier. Very helpful, nice and knowledgeable people on the phone when I called. Honestly you saved my life

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Barbara Moore

March 25th, 2020 Hudson, FL DETAILS arrow_drop_down
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They helped me through a tough time in my life and I am very greatfull for all the help they had given me. Thank You Very Much for all you have done! I am also finished with my pay back and it is a WONDERFUL FEELING!!! Thank You, Barbara Moore

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Karen Clevenger

March 24th, 2020 Cary, NC DETAILS arrow_drop_down
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Very Honest and straight forward, very helpful, great company. Took a great weight off my shoulders . Would absolutely recommend them to friends, already have. Very pleasant to deal with, I love the positive ,we can get this done attitude. They are life savers for me.

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Judy Venske

March 24th, 2020 Sartell, MN DETAILS arrow_drop_down
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Consolidation plus is easy to understand also very easy to work with.

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Irma Estela Viale

March 14th, 2020 Manassas, VA DETAILS arrow_drop_down
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Very helpful, professional, knowledgeable, went beyond their way to assist me and got the best option for me, also they are always in touch to see how I am doing.

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Jerry Jack

March 12th, 2020 Ada, OK DETAILS arrow_drop_down
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Consol+ has been excellent in their service, attitude and transparency. They transitioned from my Freedom Debt Relief account to the Consol+ account seamlessly. I truly appreciate their professionalism.

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Patricia Travers

February 28th, 2020 Waterford, PA DETAILS arrow_drop_down
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Sadly, I have had several bouts of financial problems. When I first contacted Consolidation Plus I didn't qualify for a loan so I enrolled in Freedom Financial. After about a year or so, I qualified for a loan through Consolidation Plus. By that time my debts had been negotiated down and the amount of the loan was completely reasonable. It's been a great experience. When I needed to contact Customer Service the agents are wonderful and they will work with you so keep you on track, but they also realize that things happen and will offer different options to keep you on track. It is one of the best decisions I ever made.

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Anthony

February 26th, 2020 Kalamazoo, MI DETAILS arrow_drop_down
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Their willingness to continue to help long after paperwork was signed and long before my loan had matured. I really feel that if I needed any help or support I could ask and they would try. You don’t see that very often.

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cindy m

February 25th, 2020 Glenwood, AR DETAILS arrow_drop_down
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consolidation plus gave me financial freedom after years of struggling with multiple debts. I now have one payment a month at a fixed rate that will terminate after so many months. I struggled for many years carrying a lot of debt through credit cards. Now I have an end date.

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Jackie McIntyre

February 25th, 2020 Chicago, IL DETAILS arrow_drop_down
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I love consolidation plus because they work with you mo matter what the problem is. There is nothing that I dislike about and I would recommend it to anyone I know. They send you a large happy birthday card and everyone is very very pleasant. YOU ROCK CONSOLIDATION PLUS!!!!!!