Sunday, October 1st
2023 Credit Counseling Service Reviews
Consolidated Credit
- Has helped over 10 million people
- Comprehensive online resources across a wide range of financial topics: webinars and workshops, videos for kids and teens, financial calculators and education courses, how-to guides on credit, and much more
- In operation since 1993
- Over 7,000 five-star reviews from clients
- "A+" rated and accredited by the BBB
Credit card debt is a major issue in the United States, with Americans owing over $840 billion. However, most individuals aren't accumulating debt due to irresponsible behavior. Factors such as a lack of income, emergency expenses, and out-of-pocket medical bills contribute to credit card debt. Consolidated Credit, a nonprofit credit counseling agency, aims to address these challenges through education and counseling. Their mission is to provide financial freedom by helping families overcome financial crises and manage their money effectively. Consolidated Credit has been providing these services since 1993 and is one of the largest nonprofit credit counseling agencies in the country.
Take advantage of the complimentary consultation
What kind of credit counseling does this organization offer? The easiest route to finding out what Consolidated Credit can do for you is to have a complimentary phone call with one of their certified credit counselors. He or she will review your debts, budget, and credit; determine if you qualify for a debt management program; and, explore any other relief options that may be appropriate.
Fees are a little high
If you choose a debt management plan with Consolidated Credit, you can expect fees averaging $40 and capped at $79 - which is higher than what some of its rivals quote for their services.
Very informational website
One reason this site gets high marks from us is the wealth of resources that consumers can access at any time - no registration, sign-up, or fees required. We recommend going to the Resource Center link and browsing the topics that are of interest in your situation. Maybe you need some input on budgeting, or you'll benefit from using a calculator to set a strategy for buying a car. There are even online courses for kids and teens to learn more about credit and how to save for college - and retirement.
Over 7,000 five-star reviews
Consolidated Credit has an excellent track record, especially with respect to debt management plans. The organization maintains an "A+" rating and accreditation from the Better Business Bureau, and when you take a look at client feedback on Trustpilot, you'll see a 4.7-out-of-5-stars average - with over 7,000 five-star reviews. People say that working with Consolidated Credit has helped ease their debt burden, representatives are kind and helpful, and that the program is extremely effective at reducing what they owe.
Not as good for other types of credit counseling
While Consolidated Credit clearly does an amazing job of helping people manage their debt, particularly through their management program, some of its other services don't quite go as smoothly. For example, when we were looking into Housing Counseling, it came across as being directed strictly towards residents of Florida - which is fine, but we had no heads-up that it might be limited that way. Also, when we looked at the details to get started with a first-time homebuyer orientation, the next available class on the site... was three months prior. Then, when we reached out via live chat, we were told no one was available to help us - right before someone did join the chat, only to tell us that we should call for more information. Like we said: not the smoothest experience.
Terrific resource but slightly limited in some areas
Overall, we recommend the Consolidated Credit website as an excellent place to begin your self-education on all topics related to personal finance. You could easily spend hours on any area of interest without ever having to sign up for a phone call or even an account on the site. And, thousands of five-star client reviews also show that this organization gets the job done well when it comes to debt management plans. However, because every other type of counseling falls into the background here, Consolidated Credit lands a little shy of our highest ranking.
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Where Can You Get the Best Credit Counseling?
Credit counseling services can be incredibly helpful to individuals who are struggling with debt, looking to improve their credit score, or simply need guidance on financial planning. However, with so many options available, it can be difficult to know where to turn for the best counseling services.
One of the primary benefits of credit counseling is that it can provide you with a comprehensive assessment of your financial situation. This assessment takes into account your income, expenses, debts, and assets, and helps identify areas where you may be overspending or under-saving. Based on this assessment, the credit counselor can provide personalized advice to you on how to create a budget that aligns with your financial goals.
Credit Counseling Service FAQ
Continued from above...
Another benefit of credit counseling is that it can help you develop a plan to pay off your debts. This plan may involve consolidating debts, negotiating with creditors, or creating a debt repayment plan. By working with a credit counselor, you can develop a debt repayment plan that is tailored to your specific financial situation, which can help you achieve financial freedom more quickly.
In addition to debt repayment, credit counseling can also provide education and resources on how to manage credit and financial products. This education can help you make informed decisions about credit cards, loans, and other financial products, which can improve your credit scores and make it easier to access credit in the future. By learning about the different types of credit products available, you can choose the products that are best suited to your financial goals and needs.
The first step in finding the best credit counseling service is to identify your specific needs. Are you currently dealing with significant credit card debt? Are you looking for guidance on how to improve your credit score? Do you need help with financial planning or budgeting? Depending on your situation, you may need to seek out a credit counseling service that specializes in a particular area of financial counseling.
Once you have a clear understanding of your needs, you can begin your search for the best credit counseling service for you. A good place to start is by checking with non-profit credit counseling organizations, as they typically offer free counseling services and may also be able to direct you to resources that can help you better manage your finances.
There are also a number of for-profit credit counseling services available, many of which offer free consultations to help you determine whether their services are right for you. When considering a for-profit credit counseling service, it's important to do your research and make sure that the organization is reputable and has a solid track record of success.
When evaluating any credit counseling service, be sure to consider these factors as well:
- Experience and credentials. How long has the service been operating? How many clients have they helped? What kind of certifications does the provider have?
- Types of service offered. Will you receive basic counseling or in-depth, hands-on help with making a budget and paying down debt? Which services are free and which ones are fee-based?
- Client feedback. Read reviews and testimonials from previous clients to get a better sense of their effectiveness and customer service. Credit problems are stressful enough on their own, so finding a counseling service that has a good reputation can ease your worries during the process of turning over a new leaf.
Ultimately, the best credit counseling service for you will depend on your individual needs and situation. Top Consumer Reviews has done the hard work of researching all of today's most popular credit counseling providers, making it easy for you to choose the one that will best help you make better financial decisions and achieve your goals.
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