Consumer Education Services, Inc.

Consumer Education Services, Inc. Reviews

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About Consumer Education Services, Inc.

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Founded in 1998, Consumer Education Services, Inc. (CESI) is a nonprofit debt management company with the mission to improve the financial well-being of individuals and families through free and low-cost education and counseling services. CESI provides debt management plans (DMPs), credit counseling, financial education and housing counseling to individuals and families across the U.S.

    Pros & Cons

    Pros
    • Accredited
    • Free debt analysis and credit counseling
    Cons
    • Not all prices listed
    • Limited in-person services

    What is Consumer Education Services, Inc.?

    CESI helps consumers pursue financial freedom by offering services for several money issues, including foreclosure prevention counseling and pre-filing bankruptcy counseling.

    The company surveyed its DMP clients one year after they completed their program and found that 74% had seen an increase in their credit score, and 76% said they were able to start saving after managing their debt.

    How does Consumer Education Services, Inc. work?

    CESI's credit counseling process starts with a free debt analysis to assess your current budget and debt load. From there, CESI creates a personalized action plan that may include a DMP, budgeting advice, credit report reviews and financial education resources.

    Clients work with a certified credit counselor who provides ongoing support and guidance throughout the process.

    Consumer Education Services, Inc. products and services

    Services range in availability, and some might have a cost to enroll.

    Credit counseling
    CESI's certified credit counselors work with you to create a personalized plan to address your specific financial situation. This may include creating a budget, reviewing credit reports, and providing guidance on managing debt.
    Debt management plans
    CESI's DMPs help clients pay off their unsecured debts, such as credit cards, through a single monthly payment. CESI negotiates with creditors on your behalf to reduce interest rates and fees — it says its average interest rate is between 9% and 12%.
    Housing counseling
    There are several housing counseling services available to help with foreclosure prevention, bankruptcy counseling and emergency homeowner and renter assistance. For North Carolina residents, it can connect you to a down payment assistance program.

    How much does Consumer Education Services, Inc. cost?

    CESI does not charge anything for its credit counseling services, but its DMP does have a one-time setup fee and a monthly fee. These fees are set and regulated by your state, but the company says, on average, it charges a setup fee of $37 and then $25 per month. Fees will never exceed $75. The online homebuyer’s education workshops cost $25.

    Many of these fees can be reduced or waived based on your financial situation.

    Consumer Education Services, Inc. FAQ

    Which debts can I enroll in CESI’s DMP?

    The company is able to help with many forms of unsecured debt, such as credit cards, collection accounts, personal loans, medical bills, department store cards, old utility bills, gas cards and repossessions. It cannot include secured debt such as a home mortgage, vehicle loans or student loans.

    When is my payment with CESI due?

    When you enroll in a DMP with CESI, you can choose any payment date between the 1st and 28th of each month. This can help you set up a payment date closest to your payday. You will need to pick this date within 30 days of enrolling.

    How will a DMP impact my credit score?

    While many of the debt management companies we profiled have reported that enrolling in a DMP will not hurt your credit score in the long run, CESI does not make any guarantees about any aspects of your credit record. It says that creditors are the ones that decide whether or not it will report your participation in a DMP.

    How long does it take to become debt-free with CESI?

    The answer to how fast you become debt-free is dependent on your debt load and how much you are able to contribute each month to your repayment. The company says that, on average, clients repay their debt in three to five years.

    Is Consumer Education Services, Inc. legit?

    CESI is a legitimate company that has been around for over two decades. Headquartered in North Carolina, it has in-person services for those local to that office.  It says it has helped over 500,000 clients save an average of 30% on their debt.

    Consumer Education Services, Inc. Reviews

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      How do I know I can trust these reviews about Consumer Education Services, Inc.?
      • 4,482,017 reviews on ConsumerAffairs are verified.
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      • Our moderators read all reviews to verify quality and helpfulness.
      Page 1 Reviews 0 - 10

      Reviewed Sept. 19, 2023

      I tried to send money online at 3 am. But I was to and pay on location. The amount was not big. When customers service line see didn't help me. My family was not able to receive money I don't appreciate this kind of service.

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        Consumer Education Services, Inc. Company Information

        Company Name:
        Consumer Education Services, Inc.
        Website:
        www.cesisolutions.org