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Consolidation Plus

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151 User Reviews

5.9

Overall Score

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LAST UPDATED: October 27th, 2022

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.

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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.

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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.

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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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151 Reviews

Review Breakdown

5 grade

89%

4 grade

10%

3 grade

1%

2 grade

0%

1 grade

1%

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Barbara J Beharry Fort Lauderdale, FL

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

3 years ago

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Daniel Jordan Glen Burnie, MD

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

3 years ago

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Randy Clearlake Oaks, CA

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.

3 years ago

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Carrie Duvall Louisville, KY

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!

3 years ago

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Valentino Cimini Warren, MI

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

3 years ago

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JENNIFER

Was nerve wrecking at first. But after 5 years of payments. I am not debt free

3 years ago

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Jose Diaz Biloxi, MS

I've had no problems and staff is very knowledgeable with their help.

3 years ago

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christine cardarelli Warren, OH

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

3 years ago

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INGRID LAPPOST Miami, FL

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!

3 years ago

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Sonya Clarissa Willis Columbia, MO

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.

3 years ago

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Ron Le Center, MN

The service is very good it was easy to understand and implement. Customer service is 5 stars, Ask questions they will answer them promptly.

3 years ago

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Lisa Kennedy New Haven, MO

They were very knowledgeable and helpful with the whole process. They answered all my questions every time I had any.

3 years ago

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Jack MOORE Kannapolis, NC

I have not had any problems with my account and so far I have two of them paid off out of three

3 years ago

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Mary Mulford Columbia, MO

I like the personal atmosphere they exhude as well their quick and timely manner responding to questions via email or phone.

3 years ago

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Margaret Daniel Adona, AR

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.

3 years ago

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Cynthia Gail McKinney Hopkinsville, KY

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.

3 years ago

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Trina Salisbury, MD

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!

3 years ago

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Linda Schubbe , GA

It’s been a great benefit to me. It’s helped my credit score and has lessened my stress.

3 years ago

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Bettye Chambers Dallas, TX

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.

3 years ago

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Gwennette Preston Lancaster, CA

They are very helpful and professional. There is nothing really to complain about.

3 years ago

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Elaine Lucero Las Vegas, NV

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!!

3 years ago

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Kathleen Hartman Belleview, FL

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!

3 years ago

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Eddie Rios Ogden, UT

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.

3 years ago

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Carlos Rios San Antonio, TX

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.

3 years ago

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Grace Yvonne Tisdale Conway, AR

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.

3 years ago

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Tania Palm Bay, FL

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!

3 years ago

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Margaret Leeper Saint Charles, MO

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.

3 years ago

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Randy Elk Grove, CA

Consolidation plus has been there the entire time to help me through the tough times! They gave me the inspiration that I needed when other companies were so negative. I pushed forward and straightened out my finances! I got my life back on track and I appreciate consolidation Plus for helping me with it.

3 years ago

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Jackie McIntyre Chicago, IL

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!!!!!!

3 years ago

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cindy m Glenwood, AR

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.

3 years ago

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Anthony Kalamazoo, MI

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.

3 years ago

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Patricia Travers Waterford, PA

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.

3 years ago

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Jerry Jack Ada, OK

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.

3 years ago

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Irma Estela Viale Manassas, VA

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.

3 years ago

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Judy Venske Sartell, MN

Consolidation plus is easy to understand also very easy to work with.

3 years ago

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Karen Clevenger Cary, NC

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.

3 years ago

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Barbara Moore Hudson, FL

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

3 years ago

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Reba Robinson Grove, OK

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

3 years ago

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Maria Echevarria Norwood, MA

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 !

3 years ago Edited September 14, 2021

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Donald E Brandt Findlay, OH

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.

3 years ago

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Christina L Clearwater, FL

It's been easy to work with them and have the payment arrangement taken out biweekly to reduce my debt.

3 years ago

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Kevin Wall Fort Walton Beach, FL

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..

3 years ago

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Robert M Roder Pompano Beach, FL

Excellent Customer Service Able to work with me and provide confidence and assure outcomes With me every step of the way

3 years ago Edited September 14, 2021

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Lolah Pease 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 .

3 years ago

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Ricardo Gutierrez Houston, TX

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

3 years ago

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Allan Miles Palmetto, FL

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.

3 years ago

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Steve Saint Paul, MN

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!

3 years ago

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Julie Reed Minneapolis, MN

They got me the financial help I needed very quickly!!

3 years ago

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Cara Stallman Daphne, AL

This company helped me face by debt and in 2 short years I have a promising financial future.

3 years ago

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grimvann Fresno, CA

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.

3 years ago

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