Consolidated Credit TRUSTED BUSINESS REVIEW: Consolidated Credit Consolidated Credit is an industry leader in providing credit counseling & debt management programs throughout the United States. Consolidated Credit is dedicated to client satisfaction, customizing programs for each client’s financial circumstances. Consolidated Credit advises clients on how to better manage money & debts, developing budgets, provide educational programs, professional counseling, & financial instructions.
ABOUT THE RIPOFF REPORT BELOW:
Ripoff Report would like to let readers know that Ripoff Report emailed this customer so the member business could make things right with them. When a business joins the Corporate Advocacy Program, Ripoff Report emails everyone from the past so the member business can make things right with them. Of course, everything within reason. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer. Sadly, the author of the complaint below was unreasonable and didn’t allow Consolidated Credit the opportunity to make things right with them within reason.
STATEMENT FROM CONSOLIDATED CREDIT:
This complaint was made in 2002. The client's creditors were hesitating granting concessions and it took a bit of time for her accounts to reage. The monies she sent in were sent to her creditors to pay down the debt, but she decided to use another credit counseling agency to finish the program.
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I was severely in debt last year and decided to go through Consolidated Credit Counseling Service, which is a so-called "not for profit" agency that flaunts its association with the Better Business Bureau. Well, after four months of sending my payments in, I was getting my credit card statements back with late fees up the wazoo and then I realized that the company was taking 10 dollars or so of my monthly payment and using it toward a piddly "benefit" program with coupons I could use at restaurants or something to that effect. They said to write a letter to the address on the form to be removed from that program. I sent the letter in to the company with a return receipt, requesting a signature. This was in April 2002 and I still have not received the return receipt (and it's October now). I decided to cease sending my payments in to this company and started to send some in to the actual credit card agencies. I then wrote letters to all the places I owed requesting a statement of all payments made since I had started with CCCS. I also called CCCS and wrote them letters, faxed them, mailed them, you name it. Not a single response back. Then they messed things up for themselves when they decided to mail me my statement of payments made. When I started receiving my statements back from the credit card companies, the amounts were inconsistent. For example, a medical bill I had was receiving payments of $13.50 while CCCS divvied up my monthly payment to include a $20.00 payment to that doctor. Other bills just never received a payment. I sent them a total of almost $1000 and maybe 1/4 of that was actually disbursed to my creditors. If you're in debt, do not go through this company. They don't send you monthly statements or even try to work with you. I found a new debt consolidator that is absolutely great. (Garden State Consumer Credit Counseling). They actually send statements and their minimum payments are made so you can pay off your bills fast. No matter what though, these companies charge monthly fees, but wouldn't you rather pay them to a company that is actually going to pay off your bills? Linda Bridgewater, New Jersey
3 Updates & Rebuttals
Chris
San Diego,California,
United States of America
Polar Opposite Experience
#4Consumer Comment
Sat, July 07, 2012
I have been in the CCCS Debt Program for 2 1/2 years now. Half way through! I had serious credit card debt (around 80K). My husband and I signed up for the program after extensive research into many companies just like them.
They ended up negotiating with 3 out of the 5 credit card companies I had debt with. Major Credit card companies like Chase, Citibank and US Bank dropped their interest rates to 2% and LOWER. Discover and B of A were not willing to participate, however, Bank of America DID negotiate with me as an individual. They didn't give me nearly as low of an interest rate though (6.99). US Bank dropped to ZERO and Citibank dropped to 1.8%. CCCS made it very clear that if we were late on even one payment that Citibank would drop us from the program.
CCCS charge me a fair monthly fee and are extremely communicative with us, requesting that we check our credit card statements every three months to make sure they are properly crediting the payments to our accounts.
Over the 2 1/2 years, there has never been a missed payment to any of the cards and our debt has been dropping steadily. They are very attentive, assuring that we make our payment by the due date and we have never missed.
Also, I have noticed that the customer service reps are very friendly and always take plenty of time with me. They always ask if I have time to update them on my credit card balances.
I don't think I would have been able to get out of debt without them, honestly. I am thrilled that most of my payment is going toward the principle and not interest.
I would recommend them to anyone.
Mc from nj
Keasbey,New Jersey,
U.S.A.
Consolidate Credit is not a rip-off company but...
#4Consumer Comment
Fri, January 29, 2010
About a year ago, when I realized that my monthly budget didn't allow for making full payments to my credit cards. Note that I wasn't in default yet with any of them. I tried contacting them directly about hardship programs - I was denied. So I contacted Consolidated Credit and got on a debt management program. From the very beginning I wasn't fully satisfied because they weren't able to lower down my payments - they only decreased interest rates. But I wanted to give it a try anyway. As I feared, I wasn't able to keep up the high payments and one by one, each creditor notified me that I was removed from the program. Since then I fell more behind on my payments and became default on all of those cards. It just happens that once I became default, creditors started offering me good deals, like, 0% interest for a year, cutting minimum payment in half etc. Why couldn't Consolidated Credit get me that? It's a shame that my credit had to get ruined to get to this point but it looks like that's the best way to get on the hardship program directly from creditors.
Sorry Consolidated Credit, but you're not good enough!
As to the lady complaining about them in the first post - Consolidated Credit makes it very clear that you must make payments on time and in full and that it would take about 3 months for the late fees to stop. I fell out of that program because I couldn't pay on time or in full and I don't blame them for it. They did what they said they would do and their fees are pretty low so it's doable if you are able to afford those payments. If you can't, I'll say don't bother.
Gary
Ft. Lauderdale,Florida,
U.S.A.
The Real Story
#4UPDATE Employee
Fri, July 18, 2003
We have researched the claims made by this individual and regret that she was not satisfied with our services. However, after assisting over 100,000 individuals, during over ten years of service, our organization has never had an unresolved complaint. Consolidated is the sixth largest credit counseling agency in the country and after only recently learning of this one and only report on our company, we are posting the following facts regarding our position on this matter.
First, Linda describes receiving late fees. Linda joined our service in late October of 2000 with delinquent credit card and medical debts totaling close to $4,000. Her first payment through our program was due on December 5, 2000; however, she made no payment until the following month. As a result, Linda did continue to get late fees from her creditors, which began long before she joined our service. Then, Linda dropped our program before giving it the required time necessary to bring her past-due accounts current. Simply put, the late fees Linda received were a result of her poor payment history.
Second, Linda describes a $10 payment for benefits. The benefits to which she refers were actually $5 and clearly described as optional with no requirement to pay. Linda called and requested the $5 payment be discontinued shortly after making her second payment to our program in March of 2001. Her request was immediately honored and the extra $5 in her account was sent to her credit card company.
Third, Linda describes inconsistent payments. It is true that we were required to increase Lindas payment for one of her medical bills. This was a result of her creditor calling our office and stating that they would not accept a payment lower than $25. Which is the exact amount that our organization disbursed to her creditor following their request.
Finally, Linda describes undisbursed funds. In fact, Linda actually sent our organization a total of $758.00. Every penny of which was disbursed according to commonly accepted industry practices and the terms of our agreement. There is not one cent unaccounted for.
Linda may contact our client service department toll-free 1-877-201-7780 to receive the written documentation of the facts as stated.
We realize that managing delinquent debt is a stressful situation for our clients and do the best we can to make it an easy process. However, in order to be successful we do need our clients full cooperation and patience.
Further, I respectfully request that Lindas colorfully written but groundless report regarding our company be removed and/or disregarded as based purely on emotion with literally no factual basis. It would be a disgrace for these misstatements to tarnish an otherwise excellent reputation.