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.
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.
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.
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.
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.
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.
Grace Yvonne Tisdale
I didn't know something like this was available to ME. It was easier than I thought it would be. I feel like I accomplished something.
They explained the process in a plain and precise manner, easily to understand. Customer service always takes the time to help and never makes you feel rushed, every answer or concern is always addressed. I would highly recommend Consolidation Plus!
Best decision I have made. I was drowning in debt. It's been a process, but I'm making progress and my credit score has made it back into the green! Everything takes time,but it's worth it. Any questions or concerns,Freedom Debt ,consolidated plus is there for you.
The company delivered the results I needed. They provided the help to get rid of a strangling debt. I would recommend them to anyone in need of help with a consolidation loan.
We are so pleased with Consolidation Plus! We make one low payment a month and they took care of dealing with all our creditors. They saved us alot!! Thank you so much!
Consolidation Plus is a wonderful service that helped get our loan debt consolidated and at better than the original rates. This cut out monthly debt expense down, allowing us to payoff sooner than expected. They have several ways to help reduce the cost of current loans, saving you money quickly. They also have insightful tools to avoid debt in the future.
I recently retired and when I needed to make some adjustments to my account. I was treated professionally, courteously and with respect. They made the necessary adjustments in no time. Thank you!!
They are very helpful and professional. There is nothing really to complain about.
They are helping me with paying off my cards soon as to if I was making monthly payment it would take much longer and I am thankful for that. The fee and interest are a bit much but that life.
It’s been a great benefit to me. It’s helped my credit score and has lessened my stress.
Consolidation Plus helped me to get some perspective on my finances to move forward during a time of physical impairment and hardship. Consolidation Plus helped me to make agreements to lower my balances to card holders to continue to pay off my card holders. I am grateful for this opportunity. Thank you so much!
Cynthia Gail McKinney
Best thing I've ever done. At age 64 I will be finally debt free. I ..cannot...wait!! Consolidation Plus picked up to accept the same payments I was paying Freedom Debt to work with my creditors. So nice and helpful and easy to reach.
Barbara J Beharry
Consolidation Plus has helped me get my life on track. After the untimely death of my husband I was overwhelmed with debts. Now I am getting my life together and enjoying my life I’m almost debt free. Thank you Consolidation Plus
So far so good with the new set up, This is first time I have ever done this and I am totally satisfied with your way that you have been there for me, Keep up the way that you have been there for me when hopefully I will never get in this position in the future, Thank you for all of your help and support
I began using their services a few years ago. I was swimming in debt. I always made my minimum payments but it just wasn’t going away. I entered into a contract with Freedom Debt Relief and then Consolidation Plus. They negotiated my debt and helped me pay it off faster and easier than I would have been able to by myself. Their customer service is amazing. On occasion, I’ve had to change my payment date and they helped me in just a few minutes and were very friendly about it. Highly recommend.
Consolidating and getting the debt settled quickly was a big help. They were very courteous and always ready to help. So glad to be completely paid off and out of debt!
It has been a wonderful experience. I would tell anyone in financial problems to let Consolidation Plus take over. They are helping me get back on my feet and I thank you so much
Was nerve wrecking at first. But after 5 years of payments. I am not debt free
I've had no problems and staff is very knowledgeable with their help.
consolidation plus gave me the opportunity to get a loan to consolidate my debt based on the agreed balances by Freedom Debt Relief. It has been an easy process and my monthly payment is no more than what I was paying with FDR. I highly recommend consolidation plus they helped me see the light at the end of the tunnel
This is a great program! Gave me the opportunity to climb out of the debt while I was in. Easy and convenient! Always the best customer service!
Sonya Clarissa Willis
The process was simple to complete and quickly resolved. That part was great. My suggestion is to employ those individuals who understand that financial matters are stressful and difficult. A level of empathy and active listening skills would be a way to improve the decision making process for those people who are struggling to find solutions to these matters. I encountered a service rep that would be better suited as a car salesman. He pressured the deal, bullied through the decision making process and honestly made me feel like I was signing my life away. He was hasty, abrupt with his responses and showed no patience or empathy during the phonecall.
The service is very good it was easy to understand and implement. Customer service is 5 stars, Ask questions they will answer them promptly.
They were very knowledgeable and helpful with the whole process. They answered all my questions every time I had any.
I have not had any problems with my account and so far I have two of them paid off out of three
I like the personal atmosphere they exhude as well their quick and timely manner responding to questions via email or phone.
I highly recommend Consolidation Plus. As a senior citizen I appreciate the ease of using their website. They listen to all my concerns and resolve any issue promptly. I appreciate this company. They are always their and have your best interests at heart.