Consolidated Credit Solutions Review [2024]

Consolidated Credit Solutions is an accredited nonprofit organization that offers financial education, credit counseling, and debt solutions. The credit counseling agency helps you understand your options, learn better money management strategies, and pay down your debts.

Consolidated Credit Solutions is a part of Consolidated Credit, which has been helping borrowers with their debts since 1993. Learn more about the services it offers, how it works, costs, and the pros and cons in this detailed Consolidated Credit Solutions review.

How does Consolidated Credit Solutions work?

Consolidated Credit Solutions focuses on financial education so you can make informed decisions about how to deal with your debt. You’ll usually start with a free credit counseling session with a certified credit counselor.

Your counselor will evaluate your budget, credit, and debts to help you find the right debt solution. Depending on your financial situation, they may recommend options like debt consolidation, debt settlement programs, or debt management plans.

A debt management plan (DMP) is a form of debt organization and consolidation, but enrolling in a DMP doesn’t require you to take out a new debt consolidation loan as part of the process, so it’s a form of debt relief that’s accessible for borrowers with bad credit. Once you enroll in a DMP, your counselor will negotiate with your creditors to waive late fees and lower your interest rates. 

You’ll make one monthly payment, which will be distributed proportionately to each of your creditors on your behalf, helping you avoid any potential late payments in the future. It usually takes three to five years to become debt-free with a DMP.

Other than a DMP program, Consolidated Credit Solutions also offers housing counseling, financial education, and debt advice.

Pros and Cons of Consolidated Credit Solutions

Whether you’re thinking about enrolling in a debt management program, foreclosure counseling, or pre-purchase housing counseling, it’s important to weigh the pros and cons to make an informed decision.

Pros of Consolidated Credit Solutions

• Free credit counseling to all because the organization operates as a non-profit
• Good variety of financial education resources on the website
• An A+ rating with the Better Business Bureau (BBB)
• Multiple certifications and accreditations

Cons of Consolidated Credit Solutions

• The website doesn’t disclose pricing information
• Customer support is not available on weekends
• No money-back guarantee

Services Offered by Consolidated Credit Solutions 

The services offered by Consolidated Credit Solutions are quite similar to those offered by other nonprofit credit counseling agencies:

• Debt Management: Consolidated Credit Solutions offers debt management programs that can make it easier for you to repay unsecured debts like credit cards, personal loans, medical bills, and payday loans.
• Credit counseling: This is a great way to get help with budgeting and money management techniques and to determine the best debt relief option for your needs.
• Foreclosure Prevention Counseling: If you’re finding it difficult to keep up with your mortgage payments, you may be able to get relief through the Hardest Hit Fund. Consolidated Credit Solutions also offers foreclosure counseling to help you successfully complete the process.
• Homebuyer Counseling: Whether you’re a first-time home buyer or want more information about VA construction loans, pre-purchase housing counseling can help you understand your options so you can make informed choices.
• Reverse Mortgage Counseling: If you’re at least 62 years old, a reverse mortgage can help you access the equity you've already built up in your home. However, you may want to do your research to understand how reverse mortgages work and seek out additional education and counseling on the program to fully understand the financial implications before you do so.

Costs and Fees

You can get free credit counseling at Consolidated Credit Solutions. However, if you decide to enroll in a debt management plan, you’ll typically pay a modest one-time enrollment fee and a small monthly fee to participate in the program.

While we couldn’t find pricing information on the agency’s website, most DMP enrollment fees usually range up to $75, and monthly fees can cost approximately $33, on average. Keep in mind that these costs can vary for each state.

Time To Complete the Debt Consolidation Program

It usually takes three (3) to five (5) years to become debt-free when you consolidate the repayment of your debts through a DMP. However, this timeframe can vary depending on factors like the amount of debt you owe, the monthly payments you can afford, and whether your creditors are willing to negotiate.

Expected Relief Amount

One of the most significant benefits of enrolling in a DMP is that your DMP firm can usually negotiate with your creditors to reduce your interest rates from the high rates they are at now, down to an APR of between 6% and 10%, depending on each lender’s willingness to be flexible. This is much lower than the APR that you would pay on a credit card, even if you have excellent credit.

The average credit card interest rate as of Q3 2024 is 24.84%. While you may be able to save a considerable amount of money through a significant interest rate reduction down to 6%-10%, keep in mind that your creditors must be willing to negotiate.

You’ll also need to pay the entire debt you own–although a low interest rate will certainly help you do that more easily. In comparison, you may be able to save up to 50% of what you owe if you choose to go through debt settlement.

Customer Service Options

If you have questions or need help with your credit card debt, you can get in touch with Consolidated Credit Solutions via email or phone to find out more.

Phone: (888) 964-5037

Email: Counselor@ConsolidatedCredit.org

If you’re already an existing client, you can get in touch with the Client Services Team by phone.

Phone: 1-877-201-7780 (Monday to Thursday- 8:30 AM to 8 PM, Friday- 9 AM to 5 PM EST)

You can also contact Consolidated Credit Solutions via regular USPS mail at this address:

Consolidated Credit

5701 West Sunrise Blvd.

Fort Lauderdale, Florida 33313

Consolidated Credit Solutions Reviews and Feedback

Consolidated Credit Solutions is accredited by the Better Business Bureau (BBB) and certified by the U.S. Department of Housing and Urban Development (HUD) as a pre-purchase homebuyer counselor. It is also a member of the National Foundation for Credit Counseling (NFCC) and the Financial Counseling Association of America (FCAA).

Consolidated Credit Solutions Reviews on Better Business Bureau

Consolidated Credit Solutions has an A+ BBB rating. It also has 4.93/5 stars from 255 reviews on the platform as of July 2024. Only four of the 255 reviews are one-star ratings. Most of the negative reviews discuss a reduction in credit score after enrolling in the program, like the example below:

“Worst program. If you agree your credit cards will close your account which reflects bad on your credit cards in the end. Use another option but DO NOT GO WITH CONSOLIDATED CREDIT SOLUTIONS If you want good credit go somewhere else.”

The positive reviews highlight excellent customer service and satisfaction with the program results.

Consolidated Credit Solutions Reviews on Trustpilot

While there are no Trustpilot reviews of Consolidated Credit Solutions (CCS), there are plenty of reviews for Consolidated Credit (which is the parent organization of CCS). The agency has 4.7/5 stars on Trustpilot from 9,048 reviews as of July 2024.

Eighty percent (80%) of the reviews have 5-star ratings, while less than 1% have a one-star rating. The negative reviews highlight issues with communications and customer service and dissatisfaction with the results of the program. Here’s an example:

“Started the process a month ago. Creditors are not accepting the proposals so the process is costing me more since I have to pay Consolidated Credit and also pay the creditors directly to avoid late fees and charges. Only 1 of my creditors accepted their proposal and the difference was just $2 monthly. Are you kidding me?. Yesterday, one creditor ( discover ) denied the proposal because the credit card is secured (wrong). I asked Consolidated for help since I know the credit card is unsecured and their response was to remove the account from the debt program without notification. I will have to look another company.”

Consolidated Credit Solutions also has a very large number of five-star reviews, such as this one:

“So far this process has been so easy. The company has delivered everything they said they would. I have received confirmation letters from everyone of my creditors saying that they are now enlisted in this program. Consolidated has gotten them to drop my interest rates down To less than a third of what they were and in some cases down to 0%!I also like how they keep me informed of every move they are making and show me where every one of my dollars is being spent. This really was a no brainer.”

How Consolidated Credit Solutions Compare To Other Credit Counseling Agencies 

With so many credit counseling agencies in the U.S., it may be difficult to choose an option that fits your financial needs. We recommend evaluating your options carefully before you decide. Here’s how Consolidated Credit Solutions compares to other agencies.

Is Consolidated Credit Solutions Worth It for Debt Consolidation?

Consolidated Credit Solutions can help you consolidate your high-interest unsecured debts into a lower monthly payment so you can afford to pay them off. However, it can take three to five years to become debt-free, and you’ll need to repay the entire debt you owe.

If your goal is interest rate reduction and lower monthly payments, enrolling in a DMP may be a good option. Consolidated Credit Solutions is also a good option if you need housing counseling before you buy your first home. We recommend comparing it to other debt-relief solutions to make an informed decision.