If you are knee-deep in debt, then you are not alone.
There are 4.2 trillion Americans who are in the same situation as you, and debt relief companies like consolidated credit help people to settle their debts and make lives easier.
If you too want to get rid of your debt, then read these consolidated credit reviews till the end.
|Minimum Debt Settlement Requirement||No requirement|
|Fees||$35 monthly fee, upfront fee of $49|
|Features||Free consultation, Free educational materials.|
|Number of reviews||8,718|
- Consolidated Credit charges a $35 monthly fee and an upfront fee of $49.
- They offer service in all 50 states and territories of the US.
- They offer debt consolidation services with a low interest fee of 0-11%.
- You need to have a minimum of $7,500 in debt to be eligible for their program.
What Is Consolidated Credit?
Consolidated Credit is one of the oldest and most reputable non-profit credit counseling organizations that strive to make people’s lives simpler by providing them with financial counseling and education.
Consolidated credit believes that educating families and providing them with financial literacy can considerably reduce debt, and this is precisely why they have partnered with more than government agencies, 500 non-profit organizations, municipal corporations, etc.
Do you know what we absolutely love about Consolidated Credit?
That it does not ask for a minimum debt requirement, unlike many other companies that deal with people having at least $7,500 in debt.
Let’s dig deeper and see if Consolidated Credit is worth it’s salt.
Key Features & Service
Consolidated credit will help you in settling your debt as inexpensively as possible.
You can’t expect to get rid of the entire loan, but they will assist you in lowering the debt repayment amount to a large extent.
For this, you are required to fill out a form available on their website, and then they will take care of the rest.
To help you understand your situation better and to make sure you do not get yourself into such situations again, they offer counseling services.
They have a team of experts who assist you in counseling. They even provide helpful education material on credit scores, bankruptcy, budgeting, etc.
Read: Credit Counselling
Pros And Cons
- No minimum debt requirement.
- Available in 50 states and territories of the US.
- Free education material.
- High customer satisfaction score.
- Debt consolidation with low-interest rates (0-11%)
- Not on the Department of Justice (DOJ) list of approved agencies.
- No service for secured or payday loans.
- High upfront origination fees of $49
Consolidated Credit charges an upfront fee of $49, which is slightly higher than the industry average.
Also, clients pay $35 per month as a service fee only for the debt management program.
But the good thing is that they do not have any minimum debt requirement, as opposed to the industry requirement of at least $7,500 amount in debt.
Debt Relief Time
You can pay off your debt in 36-60 months if you enroll yourself in Consolidated Credit’s debt relief program.
You can reduce your credit card payments and other kinds of debt amounts by up to 30-50% excluding fees charged by the company.
Types Of Debts Addressed
Like many other debt relief companies, Consolidated Credit also does not deal with secured debts like car loans, payday loans or loans having a mortgage, etc. Here is a list of debts that they deal with:
Credit Card Debts – It would take years to settle your credit card debt if you pay it via the traditional method, but with Consolidated Credit, you can settle your credit card debt quickly and by paying less interest fee.
Medical Bills – Medical Bills are unsecured, and if you are struggling to pay off your medical bills, then Consolidated Credit could assist you in doing so.
Personal Loans – If you have a personal loan unprotected by collateral, then Consolidated Credit will help you get rid of that.
How To Get Started?
You can get started with Consolidated Credit in three simple steps:
- Talk to a counselor for free – Review your credit, debt, and budget and talk to a certified counselor to identify if you are eligible for any debt management programs or any other relief help.
- Start when ready – Once you know all your options, take time to think, and once you are ready, leave everything on Consolidated credit. Their experts will get in touch with your creditor and crack a negotiation deal with as little amount as possible.
- Get out of debt – You can be out of your debt in anywhere between 36-60 months. All you need to do is, make a payment to your agent each month, and they will distribute the amount to your creditors on your behalf.
Mortgage Help Programm
Apart from helping people with debt relief, Consolidated Credit also offers Mortgage help programs.
- First-time homebuyer program
- One-on-one homebuyer counseling
- Housing stability counseling
- First-time homebuyer orientation
- Foreclosure prevention counseling
- Understanding home equity
- Reverse mortgage counseling
If you wish to know more about these programs, then you can simply visit their website and go through the well-written content for a better understanding.
4 Tips To Make The Most Out Of Your Debt Relief Program
Have a look at these bonus tips to get the most out of your program:
- Set a goal – Before taking counseling, make sure to set a goal so that you can help understand your agent what you want, which will, in turn, help them to give you a plan that fits your needs.
- Plan a budget and stick to it – Another very crucial thing is to stick to your budget at all costs and not spend beyond your limits. This can avoid reassessment of the budget later.
- Make sure to check your credit report – You are entitled to get a free credit report from each agency annually. This comes down to accessing reports every four months. So make sure to keep an eye on your credit report and avoid any mistakes.
- Be Transparent – Lastly, make sure, to be honest, and transparent to your counselor or agent because they are here to help you, and they will be able to do it only as long as they know all they should.
Disadvantages Of Debt Settlement
Debt Settlement could take up a lot of burden off your head, but it comes with its own disadvantages that you should know of:
- Debt settlement will severely affect your credit score. While you are enrolled in the program, you will be asked to stop making any payments to your creditors. Your agent will instead indirectly make it on your behalf.
- You will have to pay a monthly fee to your debt relief company or a fixed rate of interest once the debt is settled.
- Forgiven debt comes under taxable income, and you will have to pay income tax on it.
NPC Consolidated Credit Ratings
|Debt Settlement help||4.8/5|
|Ease of use||4.8/5|
Customer Reviews And Ratings
Consolidated Credit has an exceptional reputation and high satisfaction score among its customers, and this is the biggest indicator to know how reliable a company is without even knowing anything about them.
Consolidated Credit has an average rating of 4.7 stars based on 8,718 customer reviews.
To get in touch with Consolidated Credit’s customer service, you can either call them at 1-844-325-8489, email them at [email protected], or go to their website live chat with a professional.
If you are an existing client, then you can call their team on Monday-Thursday between 8:30 am-8 pm EST and on Friday between 9 am- 5 pm EST.
What Differentiates It?
Some of the key factors that differentiate Consolidated Credit are:
- It does not ask for any minimum debt amount requirement.
- It offers mortgage counseling too.
- You can find a lot of educational material imperative for financial literacy.
- It has a high customer satisfaction score.
Read Our Detailed Debt Relief Review Methodology
In order to have a first-hand experience with Consolidated Credit, we called them to discuss how we could get rid of our debt.
And they patiently listened to us, and after having a keen idea of what we wanted, they explained to us all the available options we have.
Overall, they have great qualified professionals, and you will definitely find a solution to your problems too.
|Company||Fast Track Debt||Consolidated Credit|
|Minimum Debt Settlement Requirement||$10,000||No requirement|
|Features||Free consultation, Two debt-relief options, etc.||Free consultation, Free educational materials, etc.|
|Fees||3.99-29.99% of enrolled debt plus 0% to 4% origination fees||$35 monthly fee and an upfront fee of $49|
|Relief Time||12-84 months||36-60 months|
|Savings||up to 40% excluding fees||up to 50% excluding fees|
|BBB rating||Not accredited||A+|
Consolidated Credit is one of the best debt relief companies known for its credit counseling services out there and also does not have any minimum qualification requirement.
However, most people shy away from enrolling for their services because of the $35 monthly fees along with an upfront fee of $49.
So if you are looking for an equally good company but with lesser fees, then you can go for Accredited Debt Relief.
This company not only offers unbeatable services but also charges only 15% to 25% of your enrolled debt amount.
We hope you got what you were looking for and found these Consolidated Credit reviews helpful.
How much could I save with Consolidated Credit?
The amount you save can vary from person to person depending upon your credit score, the total debt amount, etc.
But you can expect to save 30%-50% of your total credit card debt.
How do I login to my Consolidated Credit account?
The best way to log in to your Consolidated Credit reviews account is by visiting their website or by searching Consolidated Credit login online, which will redirect you to the login page on their website.
Does Consolidated Credit offer debt relief guarantee?
Unfortunately, it does not offer any debt relief guarantee.
Do I have to pay any monthly fee to Consolidated Credit?
Yes, you will be required to pay a monthly fee of $35.
Should I really take debt settlement help?
You should not take help until and unless there is no option left to you.
Go through the disadvantages of making debt settlements that we have shared in the article above to know more.
Shefali Jain is a Content Editor & Writer at National Planning Cycles.
After completing her graduation in hospitality, Shefali decided to follow her passion and started writing. Shefali has been writing for two years now and contributes to our website as a skilled editor and content writer with strong research skills. Writing product and service reviews, biographies, and book reviews are some of her key areas, among many others in which she specializes.