Consolidated Credit Solutions, Inc.

Item: Consolidated Credit Solutions, Inc.
Rating: 4.6
Author: ConsumersAdvocate

ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)

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Started in 1993, Consolidated Credit Solutions, Inc. is a company that specializes in helping people find relief from mounting debt problems.

The company provides a myriad of credit restoration and debt resolution services to help people take control of their finances. It provides free consultation and credit analysis assistance so people not only find debt relief, but also correct erroneous items on their credit report.

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How is Consolidated Credit Solutions, Inc. rated?

Breakdown

4.8/5

Reputation

4.8/5

Qualification

5.0/5

Pricing & Fees

4.0/5

Services

Overall Rating: 4.6 / 5 (Excellent)

Consolidated Credit is a non profit organization that offers credit counseling services.

Credit counseling differs from debt consolidation as you usually need to have great credit to reap the low interest rates of debt consolidation loans.

Similarly, credit counseling may not boast the huge savings of debt settlement, but it will not damage your credit score. Consolidated Credit is a great option for those with poor credit who have been turned down for consolidation loans and also want professional guidance for their financial future.

Services - 4 / 5

Consolidated Credit's credit counseling services feature Debt Management Plans (DMP), budgeting assistance, financial resources, home purchasing counseling, and a host of other financial planning tools.

In this way, it differs from debt consolidation and debt settlement services. A credit counselor works with the client and creditors to obtain more favorable interest rates and repayment terms.

Therefore, unlike debt settlement, the debt is eventually paid off in full with no negative impact on the client's credit score. Consolidated Credit can reduce interest rates between 6% and 10% or eliminate them entirely in some cases resulting in 30% to 50% reduction of credit card payments.

During the plan, customers make one monthly payment to the company which they disburse to the creditors. All accounts are frozen during the process and reopened once completed. Perhaps most importantly, Consolidated Credit's certified financial counselors (CFCs) teach clients better credit habits as they go so they do not get into the same situation again.

Their services are not only for those who find themselves ineligible for debt consolidation but for anyone struggling and in need of aid structuring their financial life.

Qualification - 4.8 / 5

As a credit counseling service, Consolidated Credit casts the widest net in terms of types of debt covered.

In addition to all forms of unsecured debt including personal loans and credit cards, the company can handle payday loans, medical bills in collection, and student loans.

In terms of eligibility, the credit counselor will initially go over your financial situation and determine if you are qualified for other services like a debt consolidation loan.

If not, and they determine a debt management plan is your best option, they will help you enroll.

Pricing & Fees - 5 / 5

As Consolidated Credit is a non profit, the associated fees are government regulated and quite low.

The initial consultation is free and fees don't kick in until you officially enroll in a debt management plan. There is usually a one time enrollment fee of around $75, and a monthly administrative charge that is either flat or based on a percentage of the payment.

Regardless it usually hovers between $65-$75. As a result, credit counseling services are typically a lot less expensive than other for profit debt relief plans.

Reputation - 4.8 / 5

Consolidated Credit has a better reputation than most with its customers. This is likely informed by the fact the organization is a non profit that by law must charge a low, set rate.

The debt relief industry is riddled with complaints about deceptive fees and outright lies during the sales process. Additionally, the company has an A+ with the BBB and a super Trustpilot score of 9.6 with an incredible 99% positive out of 827 reviews.

Consolidated Credit employs certified financial counselors (CFCs) who undergo recertification every three years. The company also maintains the prestigious status as an ISO 9001:2000 Registered Organization.

Additional accreditations include National Industry Standards for Homeownership Education and Counseling, ANAB, and Financial Counseling Association of America (FCAA).

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