ClearOne Advantage is a debt negotiation company based in Columbia, MD. This company which was started in 2007 is similar to others in the industry. They provide debt settlement services to consumers who want to avoid filing bankruptcy due to a financial hardship. ClearOne Advantage will negotiate your unsecured debt tor reach a settlement that is less than the balance owed.

Here are some quick facts about Clear One Advantage:

Company Founded:- July 2007

Years In Business:- 2

Number of Employees:- 35

BBB Rating:- No Rating

BBB Complaints:- 2 in 36 month reporting period

Fee Information:-15% of total debt

Escrow Available?:- Yes

Source of Funds:- Client payments

Fee Structure:- 5% retainer paid in first three to four months/10% service fees spread over 15 months

Avg. % Settled:-45%-48%

Refund Policy:- Retainer fees are generally non-refundable. If your total debt reduction is less than 3 times the Service Fees, you will receive a refund to bring the amount of fees equal to 1/3 of your total debt reduction.

Minimum Debt Required:- $10,000

About the Company:

ClearOne Advantage is a member of the International Association of Professional Debt Arbitrators and United States Organizations for Bankruptcy Alternatives. They are also an accredited member of The Association of Settlement Companies. They have a listing on the Better Business Bureau which reports 2 complaints in the last 36 month reporting period. The BBB does not have a rating for this company.

The Program:

If you qualify for their debt settlement program, ClearOne Advantage will negotiate on your behalf with your creditors to settle your unsecured debt for less than the amount owed. They will work with you to determine an affordable monthly payment which will go into a special account to be used when settlements are reached. The fee structure for this program is 15% of the total debt enrolled in the program. This 15% is broken down into a 5% retainer which is charged over the first three or four months of the program followed by 10% service fees spread over 15 months. From month 20 to completion there is a $39 maintenance fee.

Website Experience:

The website for ClearOne Advantage provides the basic information about the debt settlement process. Contact information is easy to find and visitors have the option of chatting live with a representative.

When I review a debt settlement company my first stop is the FAQ’s section which should obviously have answers to common questions. ClearOne Advantage puts a new twist on this section with their interactive Debt Settlement Questions & Answers feature. Visitors can search questions that have already been submitted or submit their own question. I appreciate the fact that more questions will be answered in this manner, however I am concerned that important information might get overlooked. To put it simply, if you are unfamiliar with the process…..you probably don’t know what questions to ask.  For this reason visitors who are unfamiliar with the process of debt settlement should make it a point to review the information provided on the FAQ’s section to make sure you fully comprehend the benefits and consequences of negotiation debt.

In conclusion, ClearOne Advantage appears to fit in with most of the other debt settlement companies in terms of program information and fee structure. With limited history, no rating on the BBB, and the lack of information found during an online search, it is impossible to make any recommendations regarding this company.

Conclusion