Overview and Mission
Consolidated Credit, established in 1993, is a leading nonprofit credit counseling organization based in Fort Lauderdale, Florida. It has played a pivotal role in helping over 10.2 million individuals across the United States achieve debt relief through its credit counseling and financial education services. The organization is dedicated to assisting families in overcoming financial crises and enhancing money management skills through education and professional counseling.
Services and Impact
Consolidated Credit provides a variety of services designed to help consumers manage and reduce debt. The organization is recognized for its innovative programs, such as KOFE (Knowledge of Financial Education), which offers financial wellness tools tailored to both individual and corporate needs.
Key Services
- Credit Counseling: Provides a thorough two-part service including a complimentary debt and budget evaluation.
- Debt Management: Offers a structured plan for consolidating multiple debts into a single monthly payment with reduced interest rates.
- Financial Education: Focuses on empowering individuals with the knowledge necessary to achieve financial stability.
Leadership and Expertise
The leadership team at Consolidated Credit is comprised of seasoned professionals with extensive experience in the financial sector, collectively representing over a century of expertise.
Notable Leaders
- Gary S. Herman: As President, he directs the organization's strategic vision, focusing on financial education and debt-relief solutions.
- Brenda D. Horner: As Director of Operations, she leverages over 24 years of experience in customer service and project management.
- April Lewis-Parks: Serving as Director of Financial Education, April spearheads the development of educational programs and financial literacy initiatives.
- Ron Librea: As Director of Trust Services, Ron ensures the security and maintenance of trust services within the organization.
Accreditation and Recognition
Consolidated Credit has been accredited by the Better Business Bureau (BBB) with a high rating since February 14, 2012, and maintains a 4.9 rating from customer reviews. The organization's services receive high ratings, including a 4.8 on Consumer Affairs, which highlights customer satisfaction and reliability.
Community Engagement and Partnerships
Committed to community outreach, Consolidated Credit partners with local organizations and governmental bodies, such as Junior Achievement of South Florida, to promote financial literacy. Its collaboration with Habitat for Humanity underscores its dedication to building intergenerational wealth and community independence.
Competitor Profiling
Overview of Competitors
This segment outlines key competitors in the debt consolidation and financial solutions industry: InCharge Debt Solutions, National Debt Relief, SoFi Technologies, Freedom Debt Relief, and Prosper Marketplace. Each offers unique services and operational strategies contributing to a dynamic competitive landscape.
InCharge Debt Solutions
- Type: Nonprofit 501(c)(3)
- Services: Credit counseling, debt management plans, housing, and bankruptcy counseling.
- Achievements: Assisted in repaying $3.4 billion in debt; holds an A+ rating with BBB; recognized by the National Industry Standards for Homeownership Education and Counseling.
- Headquarters: Orlando, FL
- Industry Position: Member of the National Foundation for Credit Counseling (NFCC) and accredited by the Council on Accreditation (COA).
National Debt Relief
- Type: Privately held
- Services: Specializes in debt settlement, negotiations, debt mediation, and credit card consolidation.
- Achievements: Assisted over 550,000 clients; employs a "Whole Human Finance™" approach.
- Headquarters: New York, NY
SoFi Technologies
- Type: Publicly traded fintech
- Founded: 2011
- Services: Student loan refinancing, personal loans, investing, and insurance.
- Achievements: Funded over $73 billion in loans with 10 million members.
- Headquarters: San Francisco, CA
Freedom Debt Relief
- Type: Debt settlement and relief
- BBB Rating: A+ accredited since 2015
- Founded: 2002
- Achievements: Settled over $19 billion in debt; served over 1 million clients.
- Headquarters: San Mateo, CA
Prosper Marketplace
- Type: Online lending platform
- Founded: 2005
- Services: Peer-to-peer lending, providing personal loans and financial solutions.
- Achievements: Facilitated over $28 billion in loans; recognized for innovation in personal finance.
- Headquarters: San Francisco, CA
Key Insights
Consolidated Credit can gain a competitive edge by aligning its offerings with technology-driven solutions like peer-to-peer lending and machine learning for enhanced user experiences. Emphasizing strategic alliances and financial literacy as part of its service offering will further solidify its position in the market. Maintaining high standards of client satisfaction, akin to InCharge's approach, will be crucial in sustaining competitive standing.
Contact and Further Information
For more details on services or to contact their team, visit [Consolidated Credit's website](https://www.consolidatedcredit.org/about-us/). The organization is located at 5701 West Sunrise Blvd., Fort Lauderdale, FL 33313, and can be reached for free consultations and customized financial solutions.
