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Consolidation Plus Reviews

Dena Standley | February 16, 2024

Dena Standley
Legal Expert, Paralegal
Dena Standley, BA

Dena Standley is a seasoned paralegal with more than 20 years of experience in legal research and writing, having received a certification as a Legal Assistant/Paralegal from Southern Technical College.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: Consolidation Plus, now Achieve, offers invite-only debt consolidation loans with mixed reviews, praised for simplifying debt but criticized for service issues. Even after signing up for a debt resolution program, getting out of debt can be challenging. Consolidation Plus (now known as Achieve) assists determined consumers to get out of debt and improve their credit.

Can you imagine getting a call from someone telling you they want to help you clear your debt by giving you a personal loan? The only catch is that you must be in a debt settlement or consolidation program. That is precisely what Consolidation Plus does. They assist diligent consumers in getting out of multiple or long-standing debts by consolidating them into one monthly payment.

Consolidation Plus recently changed its name to Achieve but maintained the same services. It has earned both positive and negative reviews from most online platforms. Consumers appreciate their services that serve as a simplified alternative for managing debt. This article discusses key aspects of Consolidation Plus and the various reviews recorded online.

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What is Consolidation Plus?

Consolidation Plus is a financial service company that offers invite-only consolidation loan programs to consumers who pass their rigorous qualification process. It started operating in 2003 and recently changed its name to Achieve.

The company aims to assist consumers in getting out of debt early by helping them pay off their debt settlement balance or clear their consolidated debt and remain with a single loan to pay. Consolidation Plus offers loans at a fixed rate and does not have prepayment penalties. Their contact information is as follows:

How does Consolidation Plus work?

Unlike other financiers where you apply to get a loan, Consolidation Plus initiates an invitation for consumers to apply. To be eligible, you must be in a good debt resolution program. Once a loan consultant contacts you and you are approved, Consolidation Plus pays your debt with the loan and also subtracts the program fees. After your debts are fully paid, you can make regular fixed payments to them.

Has Consolidation Plus failed to make your debt payments, and debt collectors call you multiple times daily? Use a Debt Validation Letter to Stop their calls. Learn more from this video.

How hard is it to get approved by Consolidation Plus?

As mentioned earlier, Consolidation Plus works on an invite-only basis. To qualify for their program, you must meet the following requirements:

  • Be enrolled in a debt resolution program
  • Making regular payments to the debt management program
  • Have an above-average credit score (although not a significant factor)
  • Have a reasonably good credit history and credit report

The stringent requirements can make it difficult for many consumers to access a loan from Consolidated Plus, as a debt resolution program may have negatively impacted your credit score and credit history. Consolidated Plus, aka Achieve, may be a good option for consumers who meet the qualifications, but its services are unavailable to most people struggling with debt.

After approval, you must share your bank statement and income slip to confirm your capability to stay on course with the repayment plan.

What are consumers saying about Consolidation Plus?

Consumers mostly have positive things to say about Consolidation Plus (now called Achieve). This outcome is seen in their high ratings from multiple sources, as shown in the table below.

Consolidation Plus Reviews
Platform Reviews Average Rating
Trustpilot 10,000+ 4.8
BBB 4,000+ 4.7
Bank Standard 400+ 4
Best Company 350+ 5

Despite decent reviews from trusted sources, other consumers have had negative experiences with Consolidated Plus. For example, their BBB profile records over almost 200 complaints in the last three years and 53 complaints closed in the previous three months. WalletHub also records a rating of 3.2 from 24 reviews. Complaints range from payments not made on time, inaccurate entries in the credit report, and poor customer service involving issues such as how to direct consolidation loans for Parent Plus.

Want to settle your debts for good while staying in control of the negotiation process? SoloSettle helps you start the debt settlement conversation and helps you manage your settlement offers and counteroffers until you reach an agreement with the creditor or debt collector.

To learn more about how to settle a debt, check out this video:

Frequently asked questions for student loan consolidation

What are the disadvantages of parent-plus loan consolidation?

Some disadvantages of parent plus loan consolidation include:

  • High-interest rate compared to direct loans
  • Fewer repayment options
  • Loose eligibility to defer payments
  • A credit check is part of the process

Why is the parent plus loan consolidation application asking for my spouse to cosign?

If your spouse has been asked to cosign, it may mean your income or credit history is not satisfactory for a consolidation loan. If your spouse adds their name to your student loan refinancing application form, they are saying that they will take responsibility for the payment if you fail to pay in time. When they cosign, the debt will appear on their credit report, and their good credit score can be harmed if you miss a payment.

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