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Finding Financial Relief With ClearOne Advantage: An In-Depth Review

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Finding Financial Relief With ClearOne Advantage: An In-Depth Review
Can ClearOne provide a suitable advantage on your way to financial wellness?

Updated: March 3rd, 2024

If you're struggling with credit card debt, you may be wondering if ClearOne Advantage can start you on the path toward peace of mind. Founded in 2008, this debt relief services company offers various services that address your requirements and help you achieve your financial goals.

In this review, we'll cover everything you need to know about the company, including a look at their services and how their debt settlement process works. We'll weigh the pros and cons of choosing this provider to help you decide if it's the right fit for you, and look at what their customers say about them. So sit back, relax, and let us guide you through this process of clearing your debts with COA.

Pros

No upfront fees
Free consultation with a personal debt specialist
The application process will not impact credit scores
Mobile app

Cons

You have to have a minimum of $10,000 in credit card debt
Only works with customers who have unsecured debt
Only available in select states
They send your info to other similar services

Quick Stats

Credit Score Impact
May impact your credit score
Average Net Savings
Up to 50% before fees
Fees
Undisclosed
Minimum Debt Required
$10,000
Money-Back Guarantee
Limited Satisfaction Guarantee
Timeframe
24 to 60 months for qualified debt
Money-Back Guarantee
Available
Trustpilot Score
4.9 out of 5
Customer Experience
Good

An Overview of ClearOne Advantage

ClearOne Advantage is a reputable debt relief company that offers assistance to individuals who are struggling with unsecured debts such as credit card bills and personal loans. They aim to help you reduce your debt by providing personalized settlement programs based on your financial situation. COA has been lauded for its exceptional services in the industry, as they ensure compliance with privacy and legal requirements. As a client, they strive to provide you with expert guidance throughout the settlement process. Their services are currently available in 47 states as well as Washington DC.

ClearOne Advantage can help you relieve your debt by offering a complimentary debt analysis and developing a personalized settlement plan. Their team may also negotiate with creditors to reduce the total amount you owe. They provide ongoing support and guidance to their clients, helping those who qualify pay off their debts in as little as 24 to 60 months. That said, please note that completion times depend on individual program estimates, and assume that you would meet all program requirements and make all payments as agreed upon during their resolution plan. Therefore, not all clients may complete their program. Also keep in mind that COA is not a credit services organization and doesn't guarantee credit score improvement, as debt settlement programs may harm your credit score.

They have received many industry accolades over time, including being placed on the Inc. 5,000 list of fastest-growing companies, as well as being named Selling Power's "Best Company to Sell For" over several years. ClearOne Advantage is an accredited member of the Consumer Debt Relief Initiative (CDRI), an organization that aims to safeguard and advance the debt settlement industry. CDRI members are bound by a code of ethics that ensures their actions are in the best interest of CDRI and its member companies. The code establishes a set of principles and practices that guide the CDRI Board's conduct and decision-making, setting boundaries, and providing direction. To that effect, COA's team of experienced professionals will create a personalized plan that fits your budget. You won't have to pay any upfront fees; they would work for you, not the creditors. Additionally, their online client portal is available 24/7 to track your progress.

The Types of Debt That ClearOne Advantage Covers

They primarily help you deal with unsecured debts such as credit card debt, personal loans, and professional bills. On the other hand, while they stress the priority of paying secured debts like home mortgages or auto loans, they will not assist you with those. This is because secured loans have collateral tied to them, which means that if you do not pay off your boat loan installments in time, that boat simply gets repossessed, for example.

Of course, each case is different, and you would have to consult with them to see which of your debts can be covered. They will generally work with you if you have over $10,000 in unsecured debts.

The Services Offered at ClearOne Advantage

COA offers the following services to help individuals manage and reduce their unsecured debts:

  • Free consultation: Clients can schedule a free consultation with a Certified Debt Specialist to evaluate their financial situation and determine the best solution
  • Negotiations: As funds accumulate, ClearOne Advantage works to resolve the client's debt by negotiating with creditors to settle the debts for less than what is owed
  • Debt settlement plans (DSPs): They negotiate with your creditors to reduce the amount of your unsecured debt. You make regular payments into a dedicated escrow account, which funds the settlements. This gives you a structured plan to address multiple unsecured debts, with the possibility of becoming debt-free in a defined timeframe
  • Education and guidance: COA provides online resources, guidance, and assistance to help clients not only become but stay on the path to financial freedom. Keep in mind that COA acknowledges personal bankruptcy as a last resort for the debt-ridden, but they have a preference for debt settlement

Pricing & Fees at ClearOne Advantage

ClearOne Advantage does not advertise their pricing online, but they state that they do not charge any start-up fees. Additionally, they offer a free consultation to help individuals analyze and understand their options.

Their fees are based on your total debt, not your saved amount after negotiations. This means you might pay a significant fee for a small settlement. Also, it's unclear which creditors it accepts, so a consultation is necessary. According to online sources, their fees may vary between 25% to 29% of total enrolled debt, depending on your state and debt amount.

COA operates on a fee-based model, charging you only after successfully negotiating and saving you money. They offer services only to suitable clients. That said, while clients may not pay until debts are settled, confirm with them if this applies to your case.

The Pros & Cons of ClearOne Advantage

COA presents with a few advantages and disadvantages. Depending on your specific situation and your debt, some of these may matter more than others.

Advantages of choosing ClearOne Advantage

  • No upfront fees: This reduces financial risk upfront, which is important for those already heavily indebted
  • Free consultation & personalized planning: The company offers a complimentary consultation with a Certified Debt Specialist. This personalized approach allows you to understand your financial situation and explore suitable debt resolution solutions before committing
  • Mobile app: COA provides a mobile app for clients, facilitating the convenient tracking of your progress in real-time. This feature adds to the accessibility and transparency of their services
  • Application won't impact credit score: You can go through the application and debt analysis process without worrying about negative effects on your credit score. The application allows the company to expedite the debt analysis to provide you with a more accurate savings estimate, without impacting your credit. That said, the settlement process subsequent to that may have an effect
  • They negotiate for you: As part of their tailored DSPs, they negotiate on your behalf with creditors to reduce the amount of unsecured debt. The services they offer with this structured plan aim to help you achieve financial wellness within a defined timeframe. However, keep in mind that third-party fees may apply

Drawbacks of ClearOne Advantage

  • Minimum debt requirement: Their $10,000 minimum credit card debt threshold means that those with smaller amounts of debt aren't eligible-- even if their debt is relatively significant to them
  • Credit score impact: An effect on credit score is unfortunately unavoidable with debt settlement. Understanding the extent of damage with your representative, as well as exploring rebuilding strategies, is crucial
  • Significant time commitment: Such programs can take years, requiring patience and a commitment to consistent payments
  • Not available in all states: Their services may not be an option for you depending on your location, as they are presently not available in Oregon, Illinois, or Montana

ClearOne Advantage Reviews

They've garnered mostly positive customer reviews from satisfied customers, past and present. They receive a review score of 4.4 out of 5 on Google Reviews, and an even higher score of 4.9 out of 5 on Trustpilot.

COA receives positive feedback from customers who appreciate the knowledgeable and patient approach of their debt specialists. Many clients express satisfaction with the thorough explanations of financial options and the personalized guidance provided during the selection process. Trust in the competency and honesty of advisors is also a common theme, with customers feeling reassured and confident in their journey to reduce debt. The effectiveness of their DSPs is often highlighted, particularly the settlements for less than owed amounts, the absence of upfront fees, and the flexibility to address various unsecured debts.

Customers also commend the client-controlled escrow account and the potential to become debt-free within a specified timeframe. Their track record for debt settlement is viewed positively, with new clients appreciating the potential savings. Reviewers also recognized ClearOne Advantage for providing a structured approach to debt repayment.

On the other hand, COA has received some critical reviews regarding their billing practices, communication, slow progress in debt reduction, and inconsistencies in service quality. Clients complain about difficulty reaching representatives, unfulfilled callbacks, and inconsistent information leading to confusion. Concerns exist about hidden fees and lack of transparency, slow pace of progress, difficulty canceling contracts, and insufficient support for rebuilding credit. By many such clients, the customer service quality was thought to be inconsistent.

That said, the majority of feedback is quite glowing. Additionally, the company seems to care about their customers, and they reply promptly to critical reviews by inviting the reviewer to get in touch so that they may discuss their concerns.

Customer Support

They seem committed to providing quality customer service, and have a dedicated customer care team that works diligently to answer your questions and address your complaints. You may call their Customer Loyalty Group at (888) 768-4767 or email them at [email protected]. You can also log in using your client account to live chat with them, or fax them at 1-443-279-2785.

Keep in mind that their availability by phone is limited to weekdays, Monday to Friday, between 8:00 AM and 8:00 PM EST. You may reach them via chat during those times, as well as on Saturdays between 9:00 AM and 6:00 PM EST.

ClearOne Advantage also provides useful blog articles on their website, as well as resources and other articles for customers who need help understanding the debt settlement process or want advice on how to manage their debt effectively

Conclusion

ClearOne Advantage offers a comprehensive debt settlement process that aims to help individuals regain control of their finances. With a range of services and a transparent pricing structure, they seem committed to providing personalized solutions for each client's unique financial situation. However, as ClearOne informs their clients, participating in a debt settlement program may have a negative impact on your credit report, and we advise you to consult with them further to understand what that entails.

If you're struggling financially and seeking professional assistance, ClearOne Advantage may be worth exploring. As with any company, keep in mind that there are always drawbacks, advantages, and limitations to the services you will receive. You should look critically at the nature of complaints and praise, and exercise your own best judgment.

Generally speaking, we recommend contacting the company directly and getting all your questions answered before moving forward. If you are still uncertain if they are a good fit, be sure to read our reviews and compare different companies to ensure you find the one that is best for you and your specific financial situation. We also have a debt relief blog with many useful articles on the subject. Armed with the right information and support, your financial wellness is well in sight!

ClearOne Advantage, LLC is a debt settlement company, not a lender, loan broker, creditor, credit services organization, or debt collector. ClearOne Advantage, LLC does not assume or pay any debts; receive, hold, or control funds belonging to consumers, or provide bankruptcy, legal, accounting, or tax advice. You should review the full program terms and conditions before enrolling. To the extent that any aspect of the debt settlement services relies on or results in the consumer’s failure to make timely payments to the consumer’s creditors or debt collectors, the use of the debt settlement services: (1) Will likely adversely affect the consumer’s creditworthiness; (2) May result in the consumer being subject to collections or being sued by creditors or debt collectors; and (3) May increase the amount of money the consumer owes due to the accrual of fees and interest by creditors or debt collectors. Not available in all states. Some third-party fees may apply. C.P.D. Reg. No. T.S. 12-03822. ClearOne Advantage is not a credit services organization, and we do not make any claims regarding the improvement of a consumer's credit scores.  Entering into a debt settlement program could adversely affect your credit score.  

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FAQs
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