ClearOne Advantage is a debt resolution and processing company based in Baltimore, Maryland. ClearOne Advantage provides comprehensive debt settlement services to clients with credit card debt and other forms of unsecured debt. If it is a secured debt or you are interested in other debt relief solutions, you should consider another company.
ClearOne Advantage prides itself on its superior debt negotiation and customer service services. ClearOne Advantage helps tailor each client's debt relief program to their unique financial situation.
The debt relief company has paid off millions of dollars in debt since it opened in 2007. Although ClearOne Advantage hasn't been in business as long as other companies, it does have significant experience and accreditations. Additionally, ClearOne Advantage requires customers to have at least $10,000 in outstanding debt to qualify for its debt solutions.
Unfortunately, ClearOne Advantage lacks transparency and has high potential costs. Take a look at the top debt relief companies to find one that suits your needs.
Read on for more ClearOne Advantage information and reviews.
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The good
- Personal Adviser for Debt Settlement
- Experience
- free advice
- Debt Settlement Process
- positive reviews
- accreditations
- ClearOne Advantage Disclaimer
Personal Adviser for Debt Settlement
ClearOne Advantage understands that a customer's financial situation will be radically different from that of other customers.
Because each client can have any number of unsecured debt problems (credit card debt, medical debt, student loans, etc.), ClearOne Advantage assigns a debt settlement counselor to each client.
Clients do not have to worry about explaining their situation to different advisors each time they request an evaluation or progress report. Additionally, assigned advisors are much more likely to be involved in your financial relief opportunities and concerns than a complete stranger to your case.
Experience
With AFCC, IAPDA, and FTC accreditations, ClearOne Advantage demonstrates a serious commitment to providing the highest level of customer service and experience.
This is particularly notable since most companies only have one or two of the major accreditations. Holding all of these important accreditations demonstrates ClearOne Advantage's commitment to providing the best possible financial services and practices.
free advice
As you would expect from any debt settlement company, ClearOne Advantage offers a free, no-obligation consultation. This allows consumers to discuss their situation with an expert and learn about available debt relief services.
It's important to take advantage of your free consultation to learn more about costs, how a debt settlement plan works, how long it takes, and the risks involved. You can also ask questions during your consultation to see if a comparison program is best for your situation.
Debt Settlement Process
Debt settlement clients choose to stop making monthly payments on their debt. Instead, they deposit money into a separate bank account that is used to pay settlements with each creditor.
The debt settlement company will negotiate with each creditor to reduce the total amount of debt owed by the client. Debt settlement companies charge no fee until all debts on file have been settled with each creditor.
As customers stop making monthly payments to pay off their debts, their creditworthiness falls. This can have some short-term consequences, so before allowing a company to pay down its debt, it must have a plan in place to restore its solvency.
It's also worth noting that settled debts are marked as settled on your credit report. When you look at your credit report, people can see that you haven't paid all your debts in full.
While there are risks and drawbacks to choosing a debt settlement program, it may be a better alternative than bankruptcy.
positive reviews
Customers have highly praised the free advice and quality customer service, general courtesy, accessibility, responsiveness, knowledge and professionalism of ClearOne customer service representatives.
Repeated themes in customer reviews highlight how ClearOne Advantage associates have made customers feel comfortable and understood. Many satisfied customers also indicated that they would recommend the company to their friends.
accreditations
ClearOne Advantage holds all major industry accreditations including AFCC, IAPDA, and FTC. Accreditations provide clients with the assurance that a debt settlement company adheres to the standards and practices established by each accrediting organization.
The two most important accreditations are those of the International Association of Professional Debt Arbitrators (IAPDA) and that of the American Fair Credit Council (AFCC). ClearOne Advantage is accredited by both the AFCC and IAPDA.
ClearOne Advantage Disclaimer
The ClearOne Advantage Disclaimer clearly lists important policies and services that are and are not covered.
For example, ClearOne Advantage is a debt settlement company, which means that it does not offer debt consolidation services.
In addition, ClearOne Advantage does not provide credit repair services, credit counseling, investment advice, or tax debt services. It does not provide "repair, modification, improvement, or correction of credit records or credit reports" services.
The disclaimer also states that ClearOne Advantagedebts settlementprogramnot available in all states, does not include anyprepaid, and does not compute arateuntil all debts are paid.
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The bad
- High minimum debt requirement
- lack of transparency
- ClearOne Benefit Cost
High minimum debt requirement
ClearOne Advantage requires prospects to report debt of $10,000 or more. This is a higher minimum debt requirement than the industry average.
Some clients who would otherwise qualify will need to find a debt settlement company with a lower minimum debt requirement.
lack of transparency
There is some important information that ClearOne Advantage does not disclose on its website, including exact pricing and state availability. This lack of transparency makes it difficult for potential customers to decide whether or not ClearOne Advantage is the best debt relief service for them. However, interested parties should take advantage of the free consultation to learn more about the ClearOne Advantage process.
ClearOne Benefit Cost
ClearOne Advantage does not disclose its costs. Debt settlement companies do not charge up-front fees under Federal Trade Commission rules. You pay the company for its services after you have paid off your debt. The average cost of a debt settlement company is between 20 and 25 percent of your total debt. If ClearOne Advantage is anything like the rest of the industry, they charge 20 to 25 percent.
This means that you would only end up paying about 70 to 75 percent of your total debt.
When you discover that ClearOne Advantage collects less than 20 percent of your total debt, you know that the company has very low prices. Have him try a free consultation to determine what your approximate fees might be.
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The final result
ClearOne Advantage does not disclose pricing, making it difficult to compare with other companies in the industry. We want more transparency.
Additionally, the debt settlement program is only available to consumers with more than $10,000 in unsecured debt. Like many companies in the debt settlement industry, ClearOne Advantage does not offer debt consolidation, credit repair, credit counseling, investment, or tax debt services.If you are interested in othersdebtsreliefsolutions such asdebtsconsolidationYou should consider other companies.
However, the company has many positive customer reviews and is reputable. ClearOne can help clients achieve a more stable financial situation by paying off student loan debt, credit card debt, and other types of unsecured debt.
Before you enroll in ClearOne Advantage, explore other debt relief programs to make sure the deal is right for you as you embark on your journey to debt-free and financial well-being.
Because of ClearOne Advantage's breadth of services and quality of customer service, we recommend ClearOne Advantage as long as customers meet their highest debt requirements and are not bothered by the company's lack of online transparency.
Take a look at the best debt relief companies
FAQs
Is ClearOne Advantage good? ›
Are you wondering if Clear One Advantage is legit? According to Finder, the short answer is yes. The company is accredited by the International Association of Professional Debt Arbitrators(IAPDA) and the American Fair Credit Council (AFCC).
Can I get my money back from ClearOne Advantage? ›If you are not fully satisfied regarding any aspect of your settlement program and notify us within 30-days of signing this Agreement, you will be entitled to receive all funds in your account plus a full refund of all settlement fees paid to ClearOne Advantage, LLC and your program will be terminated.
How do I get out of ClearOne Advantage? ›You can add or remove an account from your program by contacting our Customer Loyalty Group at 888-768-4767 or by emailing customerservice@ClearOneAdvantage.com or you can go to your Client Portal Website and submit a request under the Customer Service Tab.
Why is ClearOne Advantage calling me? ›ClearOne Advantage routinely makes unsolicited calls to consumers to market supposed debt relief services. Often times, the recipients of these calls do not even have debt. ClearOne Advantage will often begin telephone calls by asking for the name of an individual who is not the actual recipient of the call.
How long has ClearOne Advantage been in business? ›Since 2008, we've helped thousands of clients resolve large credit card bills and other unsecured debts – all without upfront fees or the need for personal bankruptcy.
What kind of company is ClearOne Advantage? ›ClearOne Advantage, LLC provides credit counseling services. The Company offers debt relief, credit counseling, bankruptcy, and consolidation solutions. ClearOne Advantage serves clients in the United States.
Can one collection hurt your credit? ›A collection on a debt of less than $100 shouldn't affect your score at all, but anything over $100 could cause a big drop. In many cases, it doesn't even matter how much it is if it's over $100. Whether you owe $500 or $150,000, you may see a credit score drop of 100 points or more, depending on where you started.
Does debt settlement hurt your credit? ›While debt settlement can eliminate outstanding obligations, it can negatively impact your credit score. Stronger credit scores may be more significantly impacted by a debt settlement. The best type of debt to settle is a single large obligation that is one to three years past due.
How much does removing a collection help your credit? ›Contrary to what many consumers think, paying off an account that's gone to collections will not improve your credit score.
How do I wipe my debt clean? ›- Informally negotiated arrangement.
- Free debt management plan (DMP )
- Individual voluntary arrangement (IVA)
- Bankruptcy.
- Debt relief order (DRO)
- Administration order.
- Debt consolidation and credit.
- Full and final settlement offer.
Who is the CEO of ClearOne Advantage? ›
Tomas Gordon founded ClearOne Advantage with the mission to help people find financial freedom. He brings more than 20 years of experience in executive management, board and investor relations, financial management, and business development to the role of Chief Executive Officer.
What are ClearOne fees? ›- Adults - $89.
- Students (under 18)- $50.
- Unlimited Days with 1 Full Session per Day.
Ignoring debt collection calls may make things easier for a while, but it won't make the problem disappear. Your debt situation could snowball and potentially turn into a bigger issue down the road. Your credit score could take a hit if you repeatedly ignore calls from debt collection agencies.
Should I block debt collector calls? ›Even if a debt is yours, you still have the right not to talk to the debt collector and you can tell the debt collector to stop contacting you. However, telling a debt collector to stop contacting you does not stop the debt collector or lender from using other legal ways to collect the debt from you, if you owe it.
How do I know if a collection call is real? ›Ask the caller for a name, company, street address, telephone number, and professional license number. Many states require debt collectors to be licensed. Check the information the caller provides you with your state attorney general . Your state regulator may be of assistance if your state licenses debt collectors.
How many employees does ClearOne Advantage have? ›ClearOne Advantage corporate office is located in 1501 S Clinton St Ste 320, Baltimore, Maryland, 21224, United States and has 402 employees.
What is ClearOne Advantage customer service number? ›Phone: 1-801-975-7200.
What does clear one do? ›At ClearOne, we work with you to create a custom, confidential debt relief plan you can afford. Our certified debt specialists negotiate lower final payment amounts with creditors, so you can pay back a reasonable portion of your bills – at a level we know they will accept.
Who is debt free company? ›Tata Consultancy Services (TCS)
The company was founded in 1995 and has zero debts on the current date. TCS offers services across industries, including healthcare, insurance, telecom, retail, and others. As of 26 September 2022, the market capitalisation of TCS is Rs 10,91,147 crore.
As a premier provider of innovative, technology-driven collection services, One Advantage provides clients with comprehensive collection solutions designed to ensure smooth flow and performance excellence from every aspect.
Is there a company called debt Solutions? ›
About Debt Solutions
We are a private company offering debt advice and solutions for people in debt. We will talk you through the options available to you. We provide free and confidential advice and assistance with debt repayment plans.
Summary: “Please cease and desist all calls and contact with me, immediately.” These are 11 words that can stop debt collectors in their tracks. If you're being sued by a debt collector, SoloSuit can help you respond and win in court.
Should I pay off a 5 year old collection? ›If you have a collection account that's less than seven years old, you should still pay it off if it's within the statute of limitations. First, a creditor can bring legal action against you, including garnishing your salary or your bank account, at least until the statute of limitations expires.
How do I get collections removed without paying? ›You can ask the creditor — either the original creditor or a debt collector — for what's called a “goodwill deletion.” Write the collector a letter explaining your circumstances and why you would like the debt removed, such as if you're about to apply for a mortgage.
Can I buy a house after debt settlement? ›Can You Buy a Home After Debt Settlement? Absolutely! Lowering your debt can make a huge difference when you're ready to apply for a mortgage (what is a mortgage?). It's probably been a difficult journey getting debt relief, and like any time after you've completed a challenge, you want to reward yourself.
Will credit score go up after settlement? ›Settling a debt will not increase your credit score, but it won't hurt it as much as not paying at all. Debt settlement is a good option if you are struggling to make ends meet and get back on track financially. You can end up saving money and put yourself in a position to improve your credit score in the long run.
Can I still use my credit card after debt settlement? ›Can I still use my credit card after debt consolidation? Certain types of debt consolidation will automatically close your credit cards, while other options, like a balance transfer credit card or HELOC, will not. If the account remains open and in good standing, you can use your credit cards after consolidation.
How many points will my credit score increase if a collection is paid in full? ›Unfortunately, your credit score won't increase if you pay off a collection account because the item won't be taken off your credit report. It will show up as “paid” instead of “unpaid,” which might positively influence a lender's opinion.
How many points will my credit score increase when a default is removed? ›Once a default is more than two years old, the negative effect falls to 250 points, then when it is over 4 years old it drops a bit more to 200 points. These hits to your credit rating aren't reduced when you start to pay the debt, or even when it has been fully repaid.
Is it better to have a collection removed or paid in full? ›Paying a debt in full is better than settling a debt
You'll also save money. Settling the debt eliminates future interest and reduces the amount you'll repay to the lender.
What debt Cannot be erased? ›
No matter which form of bankruptcy is sought, not all debt can be wiped out through a bankruptcy case. Taxes, spousal support, child support, alimony, and government-funded or backed student loans are some types of debt you will not be able to discharge in bankruptcy.
How to get rid of 30k in credit card debt? ›Pay more than the minimum payment each month.
If you have 30k in credit card debt, you need to be making significant payments toward your bill or your debt will continue to multiply. This means paying more than the minimum payment each month, and ideally more than what you added to your statement in the previous month.
You can get a personal loan with a 500 credit score if you have a steady source of income! A lender may extend a loan offer if you can provide proof of your ability to make monthly payments on time. Credit scores are typically one of the main qualifying factors for loans.
Who are ClearOne Advantage competitors? ›ClearOne Advantage top competitors include: Accredited Debt Relief LLC, Americor Inc, Debt Reduction Services Inc, Rescue One Financial Who is the CEO of ClearOne Advantage?
Who owns debt com? ›Howard Dvorkin
Howard is a CPA, serial entrepreneur, a two-time author, personal finance contributor to Forbes and Entrepreneur.com, and is the Chairman of Debt.com.
Neil Roets is the founder and CEO of Debt Rescue, one of the biggest debt counselling companies in South Africa, and is actively involved with the executive management and development of Debt Rescue.
Is there a fee for debt consolidation? ›The average fee for debt consolidation is about 4% if you choose to get a debt consolidation loan and 2.53% if you get a balance transfer credit card. You will need to take these fees into account, along with the APR on your new loan or credit card, when deciding whether debt consolidation is worth it.
Is National Debt Relief trustworthy? ›National Debt Relief is a legitimate debt settlement company. It has a team of debt arbitrators who are certified through the International Association of Professional Debt Arbitrators.
Can freedom debt relief be trusted? ›Freedom Debt Relief is a legitimate company
Freedom Debt Relief is one of the largest debt settlement agencies available to individuals who are struggling with debt in the United States. Those who decide to use the program will undergo an initial free consultation.
Loan settlements impact on the CIBIL score
Instead of closing the transaction, they term it as settled. When a loan is termed settled, it is viewed as a negative credit behaviour and the borrower's credit score drops by 75-100 points. The CIBIL holds this record for over 7 years.
Does Consolidation lower your credit? ›
Does debt consolidation hurt your credit? Debt consolidation loans can hurt your credit, but it's only temporary. The lender will perform a credit check when you apply for a debt consolidation loan. This will result in a hard inquiry, which could lower your credit score by 10 points.
Why you shouldn't pay off your collection accounts? ›On the other hand, paying the collection account may stop the creditor or collector from suing you, and a judgment on your credit report could hurt your credit report even more. Additionally, some mortgage lenders may require you to pay or settle collection accounts before giving you a loan.
Is it better to settle or pay in full? ›Paying a debt in full is better than settling a debt
You'll also save money. Settling the debt eliminates future interest and reduces the amount you'll repay to the lender. When you settle a debt, the creditor or debt collector will typically report the account as settled for less than what you owed.
Answer and Explanation: No, debt consolidation doesn't affect buying a car.
Is debt settlement a good choice? ›Is debt settlement a good idea in terms of your credit rating? Because it requires you to stop making payments on your bills and because you won't be paying your debts in full, debt settlement will severely damage your credit rating.
What are three disadvantages to consolidating your loans? ›- Consolidating could erase payments toward loan forgiveness. Your loan can be forgiven after making payments for 20 to 25 years under an income-driven repayment plan. ...
- Consolidating to a longer loan term can be costly. ...
- Consolidating could increase your interest rate. ...
- Unpaid interest gets added to your balance.