Sarah Edwards | January 27, 2023
Summary: When searching for a debt settlement company to help you settle debt, it’s essential to find one that’s reputable and trustworthy. One company that may come across your radar is Debtconsolidation.com. While this website offers some information and resources involving debt settlement, it is not actually a debt settlement service. If you are interested in settling your debts once and for all, you should use a trusted organization like SoloSettle.
There are many debt settlement companies out there offering assistance, but not all debt settlement companies are legitimate. In this article, SoloSuit reviews Debtconsolidation.com to help you determine if collaborating with them to settle your debts is worth it.
Debtconsolidation.com, formally known as Consolidation Resource, LLC, doesn’t actually settle debts.
It’s a small website with a few landing pages and blogs pointing to debt settlement companies that pay for the advertising space. Every time a consumer clicks on one of their recommended debt settlement agencies, Debtconsolidation.com likely collects a small fee.
Debtconsolidation.com does provide some consumer advice, but the most recent statistics on debt settlement are from 2017, nearly six years ago. The website administrator published most of the blog articles in January 2018, with minor updates in 2021. Raising any red flags yet?
Let’s go a bit further.
Debtconsolidation.com’s three recommendations for debt settlement services include Private Debt Relief, Accredited Debt Relief, and DebtMD.
However, neither Private Debt Relief nor DebtMD is an actual debt settlement service. In fact, they act as data aggregators, asking the client to provide information about their personal financial situation before forwarding them to actual debt settlement companies. The only actual debt settlement company on the list is Accredited Debt Relief.
Debtconsolidation.com is a simple website designed to bring the owner revenue for placing certain ads on their website. While they provide basic advice on budgeting and paying down debt, they don’t do much for the consumer.
Here’s what Debtconsolidation.com says in its Advertising Disclosure:
“Debtconsolidation.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation from many of the offers listed on the site.
[...] This website will submit the information you provide to third-party financial services providers specializing in credit counseling, debt settlement, and debt consolidation services.”
Let’s consider an example of how this might work.
Example: Jeremy needs help settling his debt. He owes $10,000 to various creditors and stumbles across Debtconsolidation.com in an internet search. He selects the website’s Debt Settlement landing page and sees a few ads. Jeremy sees that Debtconsolidation.com left a five-star review for DebtMD. He decides to see what they offer and submits some basic information to start the process. Debtconsolidation.com sends him to DebtMD, which asks him for his contact details again. Despite sharing his contact information on two websites, he doesn’t have a debt settlement deal since neither company settles debts. A few days later, Jeremy starts receiving lots of spam calls, and his email inbox is now a magnet for debt relief scammers.
In our opinion, users should avoid sharing personal information with Debtconsolidation.com and instead work directly with actual debt settlement companies. In this case, there’s no need to involve the middleman.
A review of Debtconsolidation.com’s “About Us” page indicates that the company’s name is Consolidation Resource, LLC. The company has no Better Business Bureau (BBB) profile to review.
However, Debtconsolidation.com has 24 reviews on Trustpilot. The majority come from people invited to comment on the company. An “invited” comment means the website owner specifically sent them a request to leave a review on Trustpilot.
Unsurprisingly, the invited reviews have nothing but glowing things to say about Debtconsolidation.com. They praise the website for its helpful information, recommendations for solving common credit issues, and infographics.
However, all of these reviews were left between March and April of 2014, and no further reviews have been posted since then.
What is Debtconsolidation.com’s mission? It could be to earn extra money from ad revenue, as the site offers no genuine services.
SoloSuit recommends avoiding interacting with dubious middlemen like Debtconsolidation.com and looking for legitimate debt settlement providers. That rules out Debtconsolidation.com, regardless of their actual purpose.
Need help settling a debt? Learn about our debt settlement service, SoloSettle.
If you’ve been sued for a debt, it’s important to defend yourself. There is a good chance you can fight off debt collectors in court and win.
Maybe you know you owe the debt, and perhaps you have enough money to pay some of it off. If this is the case for you, consider reaching out to discuss a debt settlement. You can settle a debt at any stage of the debt lawsuit process. SoloSettle makes the process quick and simple.
SoloSettle is not like traditional debt settlement companies. Here’s why:
Now, let’s take a look at another example.
Example: Bailey is being sued by PRA Group for an old credit card debt of $5,000. She uses SoloSuit to respond to the lawsuit, and in turn, buys himself time to work out a debt settlement plan. After Bailey takes a closer look at his income and budget, she decides she can afford to pay off 65% of the debt upfront, or $3,250. She uses SoloSettle to send a debt settlement offer to PRA, starting low at 40%, or $2,000. After a few rounds of negotiations, PRA Group settles for $3,000 (only 60% of the original debt amount). SoloSettle takes care of the debt settlement agreement documentation, and PRA Group dismisses the case in court.
Check out this video to learn more:
SoloSuit makes it easy to fight debt collectors.
You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.
SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.
>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate
>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)
Here's a list of guides for other states.
Being sued by a different debt collector? Were making guides on how to beat each one.
You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.
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Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.
"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather