InCharge Debt Solutions Review 2020

Credit Card Debt relief Best for
3 /5
$ /mo
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Table of Contents

    Terms, Fees, and Rates

    Minimum credit score:

    Rates APR:8% minimum
    Loan amounts min to max:$7500 - unclear
    Origination fee: $50-$75
    Terms: 3-5 years
    Late payment fee:This could lead to a cancellation of all grants allowed
    Prepayment penalty: None

    Pros and Cons


    • Free to access
    • Decent creditor payment schedules


    • Website details are vague

    Why should you consolidate your loans with InCharge?

    There are a few decent aspects of loan consolidation with InCharge.

    • It’s a free service - Most companies offering debt consolidation guidance will take a hefty fee for their services, but InCharge doesn’t charge at all.
    • Entirely nonprofit - In a detailed conversation with a credit counselor, you’ll be asked questions about your living costs and income. Nothing more will be needed to determine if you’ll be able to access its debt management program.
    • Improves credit score rating - In the initial period after signing up, credit scores tend to drop because you’ll have closed all but one credit card account. However, after a few months of completing payments on time, it’ll start to improve steadily.
    • Long repayment schedules available - on a three, four or five-year basis, many clients will feel the financial stress eased, as they’re able to consolidate slowly. Many services demand a much stricter repayment schedule, sometimes as short as two years.
    • Credit card companies reduce interest - Once you join the InCharge program, you’ll sign a legal agreement to allow the service to send payments each month, to all of your creditors in amounts that’ll have been agreed at a prior date. In return for this, these companies accept lower interest rates, perhaps as low as 8%.

    What are the eligibility requirements?

    • Depends on income and expenses
    • No credit score required
    • A willingness to cancel all credit cards except one

    Eligibility will be assessed individually during an assessment with a credit counselor. In general, it appears that those with lower incomes are the most likely to be granted access to the program.

    It’s quite an exceptional service in the debt consolidation industry, and so credit scores aren’t required in this case. While this style of repayment will cost more than other options, it’ll allow more time to pay debts than many other services provide.

    How to apply for an InCharge consolidation loan? 

    There’s a simple, five-step process to apply.

    Step 1

    Contact one of the counselors at InCharge Debt Solutions

    Step 2

    Give the agency permission to view your credit card debts, along with payment information and credit reports

    Step 3

    Collect all key information about your living costs and income to clarify what’s currently available to begin consolidation

    Step 4

    Be ready to answer questions about your current plans of how to relieve yourself of debt

    Step 5

    Await the assessment from your Credit Counselor. They’ll confirm whether or not you apply for the nonprofit debt management initiative. If you don’t make it, they’ll recommend alternative options like bankruptcy, loans, or debt settlement

    Customer Service

    InCharge can be reached via phone call or in your local branch.

    What types of debt can be consolidated with InCharge?

    All kinds of credit card debt can be consolidated.

    Bottom line

    InCharge offers a free to use service that’ll help some people, but it’s limited in almost every aspect. For more comprehensive services, consider Avant or SoFi. These highly renowned brands specialize in debt consolidation and have experienced teams ready to guide you throughout the complexities of the process.