Clear One Advantage is one of the largest debt relief companies in the United States, but let's consider the 8332 reviews about the company. How much does it cost? How do the the reviews good compared to other debt relief providers? Here's what we will cover in this article:
Let’s go into more detail about each of these points:
ClearOne Advantage pitches a product known as debt settlement. The company was founded in 2008 with a network of over 800 employees. The company is accredited by the International Association of Professional Debt Arbitrators(IAPDA) and the American Fair Credit Council (AFCC). Some people consider debt settlement as a debt consolidation program, but that's not to be mistaken as a debt consolidation loan. With debt settlement, a company's goal is to negotiate your total balance due down once the accounts are past due. For example, a debt settlement firm may try to negotiate a $10,000 balance down to $5,000, which is why the monthly payment quoted is often lower than what you may currently be paying. I was the previous CEO of a debt settlement company, and I believe debt settlement can be a good option for some, but not for others. Please note that there are certain pros and cons of Clear One Advantage.
So, debt settlement may be a great option for you, but it’s helpful to understand each of your options.
As such, if you are struggling with debt and wondering what to do next, we built a free, unbiased debt options comparison calculator (not even an email address is required) that provides a wide range of debt options that may be able to fit your budget. The data is personalized to your income and expenses, so you can get accurate costs, pros and cons, and options. Debt settlement may be a great option for you, but it’s helpful to understand each of your options.
ClearOne Advantage charges between 15 and 25% of enrolled debt, but that may be closer to 23-25%. That may be quite expensive when comparing that amount to a firm that charges 15-18%.
Do you have a quote? Or do you want to see how much it would cost? Take this free debt relief cost calculator to understand how much the debt relief option may cost.
Clear One Advantage works by helping debtors negotiate for a smaller lump sum payment on unsecured debts. Its process can be broken down into four steps which include:
Let’s elucidate those steps in detail:
You’ll be assigned to a representative, likely a debt specialist, on approaching the company. The individual will carry out a detailed analysis of your debt to ascertain the possibility of getting a favorable agreement with debtors. The debt specialist then assigns you a stipulated amount as monthly payments.
In analyzing your debt, the specialists consider your total debt sum, defaults, type of debt, creditors, initial debt repayment plan, and earnings.
Once the company’s representative has certified you for the program, you’ll be required to sign some pieces of documents. This document provides the legal framework, enabling Clear One to carry out negotiation processes. The company’s representative assigned to you will send you a copy of your personalized payment plan. Attached will also be a copy of a designated account number.
You can start paying now that you’ve been given a designated account and monthly payments plan. The account is an FDIC-insured escrow account that ensures that your money is safe. Beyond this, some rules and regulations ensure that your money is used for the right purpose.
Once you have up to 40% of your total enrolled debt sum in a designated account, Clear One will start meeting all your creditors.
The goal at the negotiation table will be to get your debtor to accept less than what you owe. So let’s say you owe a total debt of $10,000. The company’s goal will make your debtor collect about $5,000 or less. Once they accept and the payment is made, you no longer owe any amount.
For a more balanced view of Clear One advantage, we’ll briefly summarize the reviews it got on popular platforms. Let’s go right into that:
ClearOne Advantage has an average rating of 3.73/5 on BBB. The company has a gamut of positive reviews on BBB, with most commenting on the professionalism of its representatives. They claimed that they took time to break down complex procedures. Some users that gave positive comments said patronizing Clear One eased their debt burden. They also maintained that the debt sum paid was significantly lesser than what they owed.
However, the comments Clear One got on BBB were not all positive. Some negative ones include delays in coming to an agreement with creditors. A particularly descriptive negative review on the platform was about a woman complaining they got 4 judgments against her. She claimed that due to the action of Clear One, she has to pay an additional $500/month judgment debt.
The company has an average rating of 4.8/5 on Trust Pilot. Clear One Advantage has a compendium of 11 reviews on TrustPilot, of which 87% of them are 5 stars. One such 5-star review is by a man commending the wonderful approach of its representatives. He also praised their ability to answer every question he raised and how they were instrumental in assisting to have deep insight into the workings of the company.
Source: Trust Pilot
He claims to be fully satisfied with everything offered.
Another positive review it got from a certain Samuel Henley. He commented on the company’s representative for helping him break down the complex workings of the program. Ensuring that he knows the reason behind every decision made, and what option suits him best.
As with other platforms, it’s not all reviews gotten by the company that’s positive. One such negative review is from a client that claimed he hasn’t gotten a reply for three months. However, Clear One Advantage replied to the review. They provided the company’s corporate details and requested a set of details.
Clear One Advantage LLC has a total of 839 Google reviews. The average rating it got from those reviews is 3.9/5, with reviews spanning across different demographic. A particular review that cut our attention is from a certain Ashley. She claims that the company’s representative she spoke to was straightforward. They also don’t sugar-coat their effectiveness, and will divulge every information that need to be known from inception. She further explained that they’ll provide salient information on actions that needs to be taken to salvage your credit score.
Most 5-star reviewers on the platform unifyingly agree that the company has a bunch of highly helpful representatives. However, some users opined that they promise what they can’t deliver. Some other past clients also explained that their fees are too high. Clear One is however diligent enough to respond to its negative reviews and offer some help.
Clear One Advantage has a total of 37 reviews on Yelp, and an average rating of 1/5. On Yelp, a reviewer with the name Stephaine B. explained that calling the company gave her a viable option out of debt.
She opined that Clear One Advantage trained its staff to prioritize its customer’s needs. She further explained that Clear One has helped to clear over 50% of its debts. If she can’t make payments on her drafts the company is flexible enough to allow her make payments at a later date–provided she notifies them early.
Just like others who gave the company a five-star review here, she explains that she has derived optimum benefit from their customer service. She also noted that Clear One has no prepayment penalties as with other companies.
However, it's not all rosy for Clear One on the Yelp review platform. A past client complained that although she had to contribute more to reduce make the monthly settlement payments, she was still sued. In some instances, liens were actually placed on her property.
Upon calling Clear One for assistance, they advised that she maintains the status quo. She had to negotiate with Target on her own and got rid of the debt effectively. She further lamented that she has paid $7,282 within a year of enrolling on the program as fees.
Other than this, reviews by past users on the platform are fair. The majority of reviewers still rate the company high, and would not mind recommending their service to a loved one.
Clear One Advantage has just two reviews on Finder. The average rating it has here is 4.0/5. One is a 5-star rating who gave a surprisingly damning report of the company. And the other is a 3-star rating that also advised users against using the company’s services.
For the reviewer that rated the company 5-star, the individual highlighted that a major demerit with this option is that they don’t provide the service they claim. She claimed that the fee charged was significantly higher than the debt paid, and they can neglect debt for an extended period without contacting creditors. She opined that individuals signing up for this program will likely be worse off than they started.
In the 3-star review, the reviewer highlighted that the company first collects its fees before negotiation starts. He advises that debtors contact their creditors themselves, rather than a debt settlement company.
Joining the ClearOne Advantage debt relief program is ultimately your decision and you understand your finances. Hopefully these ClearOne Advantage reviews will help inform you about different reviews of individuals.