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How Does Consolidated Credit Work

By David Krug 5 minute read

Consolidated Credit can take care of your monthly payments while striving to reduce your interest rates. You’re not alone if your credit card debt has spiraled out of hand. According to the Federal Reserve, Americans owed a total of $4.2 trillion in non-housing debt in the fourth quarter of 2019. When it comes to financial difficulties, it might feel like there is no end in sight. Fortunately, if you’re drowning in debt and unable to make your payments, you may want to consider getting some professional aid.

It’s hard to know where to turn when there are so many debt relief scammers out there. To help you make an educated choice, we’ve reviewed the top credit counseling and debt consolidation services available. To find out if Consolidated Credit is the best firm to help you get out of debt, read our Consolidated Credit review.

Is it true that Consolidated Credit is a legitimate business?

Yes. Credit counseling firm Consolidated Credit has been in business for more than two decades. Over the past decade, our staff has helped more than 10 million consumers restructure credit card debt and enhance their overall financial well-being.

Education, according to the firm, is the key to assisting families in achieving financial security. Because of this, it collaborates with more than 500 charity organizations, government agencies, and municipal groups to deliver financial education in marginalized areas. Employer-sponsored financial wellness programs are one of its specialties.

When you engage with Consolidated Credit, you’ll be working with a qualified debt management specialist who understands what they’re talking about, and you’ll get the one-on-one attention you need. The U.S. Department of Housing and Urban Development has also authorized its housing counseling team.

Consolidated Credit has set up a toll-free helpline for anybody experiencing financial difficulties as a result of the coronavirus. Calling 800-745-2513 can get you instant assistance.

Which services does Consolidated Credit offer?

Additionally, Consolidated Credit provides both debt reduction and housing counseling services in addition to a corporate financial wellness program.

Debt relief

Depending on your specific financial position, Consolidated Credit may be able to offer you many solutions. This company’s experts may propose a debt relief loan or another kind of debt relief such as a credit card balance transfer. Debt management programs may also be able to assist you in this endeavor. After working with you and your budget, the firm will negotiate with your creditors to lower the interest rate on the debt you owe as well as remove any future penalties. Developing a plan to pay off your debts as quickly as feasible will also be a part of it.

Housing counseling

Homebuyers and homeowners can benefit from free advice from Consolidated Credit, a debt management company. For first-time homebuyers, it clarifies the process and identifies potential stumbling blocks. For current homeowners facing foreclosure, it offers foreclosure prevention strategies and reverses mortgage guidance.

It’s possible that your lender will offer you a variety of alternatives if you’re in danger of losing your home due to non-payment or foreclosure. Individual attention is provided by Consolidated Credit’s HUD-approved housing counselors.

Reasons Why We prefer Consolidated Credit

  • An individual consultation with a credit counselor is included in your free debt analysis, during which time you will discuss options for regaining control of your financial situation. In order to alleviate your financial stress, you may benefit from creating a step-by-step plan to get you to your goal.
  • Debt relief alternatives abound. There are a variety of debt relief solutions available via Consolidated Credit. To help you find a solution that works for you, this can help. Here are a few possibilities:
    • Credit card balance transfers
    • Low-interest personal loan
    • Debt management program
  • For assistance with your credit issues, you can contact a certified professional by phone or e-mail. Alternatively, you may use the live chat option on the Consolidated Credit website to begin a conversation.
  • With an A+ rating from the Better Business Bureau and a 4.7/5 rating on Trustpilot with over 8,500 reviews, Consolidated Credit is well-recognized. Every person’s experience will be unique, but these evaluations and ratings will help you decide if these services are worth the money.

What Consolidated Credit could improve

  • For a monthly cost. Setting a budget and working on various strategies to pay off debt aren’t the only things debt management businesses may help you with. There is a price to pay, though, for credit counseling and debt management knowledge. Customers of Consolidated Credit’s debt management program pay roughly $40 a month for their services, according to the company’s website.
  • With no assurances. Using Consolidated Credit’s debt reduction services does not come with any promises. Even if the organization offers guidance and develops a strategy for you, the final say in your financial well-being is with you. As a result, you can’t expect to end up with a lower balance or a higher credit score than before.

Consolidated Credit Customers Feedbacks

BBB gives Consolidated Credit a perfect score of A-plus. ConsumerAffairs has 162 five-star ratings, while Trustpilot has thousands of five-star reviews. In reality, just 1% of reviewers gave the firm a mediocre or awful rating, while 33% gave it an ordinary rating. It’s unusual for a financial institution to have such a low volume of negative client comments.

Consolidated Credit has been praised by customers for providing exceptional customer service and being a business that truly cares. Consolidated Credit is frequently cited as a way to reduce monthly payments by customers. For one client, it was a perfect alternative to declaring bankruptcy. On Trustpilot, Consolidated Credit has an overall rating of 4.7/5 stars.

Customer service

In order to contact Consolidated Credit’s customer care department, you can use any of the following methods:

  • One of their licensed credit counselors may be reached by phone at 1-844-325-8489.
  • Contact a trained credit counselor by email at [email protected]
  • A live representative may be reached using the “Live Chat” option at www.consolidatedcredit.org.

If you already have an account with us, please contact our Customer Service Department at 1-877-201-7780. The Client Service Team’s working hours are as follows:

  • Monday through Thursday, 8:30 a.m. to 8 p.m. EST
  • Friday, 9 a.m. to 5 p.m. EST