Consolidated Credit Review


Rating: 9.4 / 10 (Excellent)
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Started in 1993, Consolidated Credit 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.

How is Consolidated Credit rated?

Breakdown

10/10
Reputation
10/10
Qualification
10/10
Pricing & Fees
8/10
Services

Overall Rating: 9.4 / 10 (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.

Consolidated Credit Services

Services - 8 / 10

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 to 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.
Services Offered
Professional Consultation
Estimated Debt Reduction
30%-50%
Program Length
36-60 months
Additional Benefits
Personal Advisor

Qualification

Qualification - 9.5 / 10

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 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.
Debt Solutions For
Personal Loans
Medical Bills
Unsecured Loans
Credit Cards
Collections & Repossessions

Pricing: How much does Consolidated Credit cost?

Pricing & Fees - 10 / 10

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.
Up-front Fees?
No
Fees Summary
Credit counseling agencies are nonprofit, so plans differ very little as long as you work with a legitimate organization. Fees cover program setup and administration; they’re also controlled by state law.

Reputation

Reputation - 10 / 10

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).

Company Details

Year Founded
1993
Number of Clients Served
5,000,000

Online Reviews

Trust Pilot Rating
9.6 out of 10
BBB Rating
A+
Number of BBB Positive Reviews
10
Number of BBB Negative Reviews
2
Date Collected
2018-01-04

Contact & Additional Information

Homepage URL
Headquarters Address
5701 West Sunrise Blvd., Fort Lauderdale, FL, 33313

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Customer Comments & Reviews

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D
Delores D
Dallas, Texas
10/22/2017
Am very interested because they are helping ME understand and how to use tools to restore and improve my credit. I won't be just another number



Our Partner
9.4 / 10
  • Free credit consultation
  • Eliminate your debt in 30 to 60 months
  • A+ Better Business Bureau Rating
  • Debt self-help tools and financial education resources
  • 5 million Americans helped in 20 years