This company offers debt settlement services to consumers who are struggling with unsecured debt, such as credit card debt, medical bills, and personal loans. The company works with clients to negotiate with creditors and settle debts for less than what is owed. In this short article we are going to discuss about ClearOne Advantage prices and fees.
- BBB A+ Rating & Accredited
- $500 Million Debt Resolved
- $7,500 Minimum Debt
ClearOne Advantage also offers debt management plans, which allow clients to consolidate their debts into one monthly payment. With a debt management plan, clients make one payment to ClearOne Advantage, who then distributes the funds to their creditors.
Know More About ClearOne Advantage Pricing And Fees
ClearOne Advantage Pricing Structure
With ClearOne Advantage there are no start-up fees and you never pay a settlement fee until your debts are resolved and you save money. ClearOne Advantage charges fees for their debt settlement services, which are based on a percentage of the total enrolled debt. The company charges a fee of up to 25% of the settled debt in some cases.
In addition to the debt settlement fees, ClearOne Advantage also charges administrative fees for their debt management plans. These fees can vary depending on the state in which the client resides, but they typically range from $5 to $50 per month. ClearOne Advantage states that these fees are used to cover the cost of administering the debt management plan.
ClearOne Advantage Savings
ClearOne Advantage states that their clients typically see savings of around 50% on their enrolled debts. This means that if a client enrolls $20,000 in debt, they may only have to pay around $10,000 to settle their debts with ClearOne Advantage’s help.
However, it’s important to note that there are no guarantees when it comes to debt settlement. The amount of savings that a client sees will vary depending on their individual financial situation and the creditors they owe.
Differences Between Debt Settlement And Debt Consolidation
Debt settlement and debt consolidation are two different approaches to managing debt. Debt settlement involves negotiating with creditors to pay off a portion of the debt owed, usually a lump sum payment. This can result in a reduction of the total amount owed and a faster resolution of the debt.
On the other hand, debt consolidation involves combining multiple debts into one loan, usually with a lower interest rate. This can make it easier to manage payments and reduce overall interest costs. However, debt consolidation may take longer to pay off and may not result in a reduction of the total amount owed.
ClearOne Advantage Pros and Cons
Like any debt relief company, ClearOne Advantage has its pros and cons. Some of the benefits of working with ClearOne Advantage include their experience in debt settlement, their commitment to transparency, and their personalized approach to debt relief.
However, one of the drawbacks of working with ClearOne Advantage is their fees, which can add up quickly and may be higher than those charged by other debt settlement companies. Additionally, debt settlement can have a negative impact on a client’s credit score, and there is no guarantee that all debts will be settled.
Conclusion
ClearOne Advantage is an excellent company that offers affordable debt relief services to clients struggling with unsecured debts. While their services can be effective in reducing debt burdens, it’s important to understand the pricing structure and fees associated with their services before signing up.
By considering the pros and cons of working with ClearOne Advantage and understanding the potential savings and fees, consumers can make an informed decision about whether or not their services are right for them.
FAQs
What is ClearOne Advantage?
ClearOne Advantage is a debt settlement company that helps consumers negotiate with their creditors to reduce their overall debt and create a manageable payment plan.
How does ClearOne Advantage work?
ClearOne Advantage works by negotiating with creditors on behalf of their clients to lower the amount of debt owed. Clients make monthly payments into an account that ClearOne Advantage manages, and when enough money has accumulated, settlements are made with creditors.
How long does the debt settlement process take with ClearOne Advantage?
The length of the debt settlement process varies depending on the amount of debt owed and the individual circumstances of each client. On average, clients are able to settle their debts within 24-48 months.
How much can I expect to save with ClearOne Advantage?
ClearOne Advantage does not guarantee any specific amount of savings. However, clients typically save between 30% to 50% on their total debt.
How much does ClearOne Advantage charge for their services?
ClearOne Advantage charges a fee based on a percentage of the total enrolled debt. The fee ranges from 18% to 25% and is determined based on the client’s state of residence and the amount of debt enrolled.
What types of debt can ClearOne Advantage help with?
ClearOne Advantage can help with unsecured debt, such as credit card debt, personal loans, medical bills, and some types of student loans.
Will ClearOne Advantage stop collection calls and letters from creditors?
ClearOne Advantage cannot guarantee that collection calls and letters will stop entirely, but they will work with creditors to negotiate a settlement and reduce the frequency of collection attempts.
Will using ClearOne Advantage hurt my credit score?
Using ClearOne Advantage may have a negative impact on your credit score, as missed payments and settlements may be reported to credit bureaus. However, the long-term benefits of reducing overall debt and improving your debt-to-income ratio may outweigh the short-term negative impact.
Is ClearOne Advantage right for everyone?
Debt settlement is not the right choice for everyone. ClearOne Advantage may be a good option for those with significant unsecured debt who are unable to make their monthly payments. However, it is important to weigh the potential risks and benefits before enrolling in a debt settlement program.
Glossary
- ClearOne Advantage: A debt relief company that offers debt settlement services to consumers struggling with unsecured debt.
- Debt Settlement: The process of negotiating with creditors to settle a debt for less than what is owed.
- Unsecured Debt: Debt that is not backed by collateral, such as credit card debt or medical bills.
- Debt-to-Income Ratio: The percentage of a consumer’s monthly income that goes towards paying off debt.
- Credit Counseling: A service that helps consumers manage their debt and create a plan to pay it off.
- Debt Consolidation: The process of combining multiple debts into one monthly payment with a lower interest rate.
- Settlement Percentage: The percentage of the original debt that a creditor agrees to accept as payment in a settlement.
- Program Fees: The fees charged by a debt relief company for their debt settlement services.
- Success Fees: The fees charged by a debt relief company for successfully settling a consumer’s debt.
- Minimum Debt Requirement: The minimum amount of debt that a consumer must have in order to qualify for debt settlement services.
- Attorney Representation: The legal representation provided by a debt relief company’s in-house attorneys.
- Creditor Harassment: The constant and aggressive communication from creditors attempting to collect on a debt.
- Wage Garnishment: The legal process in which a creditor can collect a portion of a consumer’s wages to pay off a debt.
- Bank Levy: The legal process in which a creditor can freeze and seize funds in a consumer’s bank account to pay off a debt.
- Statute of Limitations: The time period in which a creditor can legally sue a consumer for an unpaid debt.
- Credit Score: A numerical representation of a consumer’s creditworthiness based on their credit history.
- Credit Report: A detailed report of a consumer’s credit history, including their credit score, outstanding debts, and payment history.
- Collection Agencies: Third-party companies hired by creditors to collect on unpaid debts.
- Debt Validation: The process of verifying the accuracy of a debt and the legitimacy of the creditor attempting to collect it.
- APR: The annual percentage rate, or the interest rate charged on a credit card or loan.
- American fair credit council: The American Fair Credit Council is an organization dedicated to promoting fair and ethical practices in the credit counseling industry in the United States.
