Debt Relief Frequently Asked Questions
How the ClearOne Advantage Debt Settlement Program Works
The debt relief process starts with a debt analysis and savings estimate where a Certified Debt Specialist will review your situation and help you find a realistic repayment plan with a payment that fits your budget. The analysis usually takes less than 20 minutes and can be done over the phone. Since no two situations are the same, your personal debt relief analysis will plainly show what ClearOne Advantage can do for you and your potential savings. If you prefer, you can start online on the ClearOne Advantage site. Just provide some basic information about yourself and we'll tell you how the plan can help you.
The debt analysis and savings estimate are free, confidential, and require absolutely no commitment. You will just need to provide some basic information about your situation and assist us with creating a spending plan that you can afford. And best of all, with a ClearOne Advantage plan there are no upfront costs. We only charge a fee after you have enrolled, accepted and approved the settlement terms, and made a payment towards your settlement.
Your debt analysis will not have an impact on your credit score. Retrieving your information expedites the debt analysis and savings estimate process while allowing us to provide you with a more accurate quote.
Debt settlement aims to reduce the amount you owe through negotiated settlements, depending on creditor cooperation. It can be a powerful option if you're struggling with high-interest debt and need a realistic path to financial freedom.
Pros:
- You'll have one low monthly program draft, which may be less than your current minimum payments combined.
- You can resolve debt faster, typically within about 40-50 months for clients that make all of their program drafts as agreed — much sooner than paying minimums on your own. Results vary.
- By settling debt for less than you owe, you can save money overall.
- While it may impact your credit, the effect typically is not as severe or long-lasting as bankruptcy, and many clients are able to rebuild over time.
Cons:
- Program primarily benefits those with high-balance credit cards.
- Success relies on making timely and consistent monthly program drafts.
- Creditors may increase collection efforts.
- Negative impact on credit due to default on credit agreements.
DMPs offered by CCCSs are designed for people who can repay all their debts, plus some interest, in approximately 5 years with a moderate monthly payment. The monthly payment required to complete a credit counseling program may not be much lower than your current credit card payments and could be higher than that of a debt settlement program. A debt settlement program may be faster to complete than a DMP (typically 2 to 5 years for debt settlement compared to 5 years for a DMP).
Many clients see their first settlement within 60 to 120 days after enrolling, though timelines can vary. The timing depends on factors such as creditor policies and how quickly funds build in the dedicated savings account. Once sufficient funds are available to make a strong offer, negotiations with creditors can begin. Many clients reach this point within the first few months, but individual timelines may differ based on account balances and creditors.
When a settlement offer becomes available, you are notified through email, text, phone, and the client portal. Reviewing and approving settlement offers promptly helps move the process forward.
The length of time in the program depends on several factors, including the total amount of debt enrolled, the monthly deposit amount, and the consistency of those deposits.
On average, clients who complete the program do so within approximately 40-50 months, though individual timelines may vary.
Yes, the dedicated account providers that offer these accounts to our debt settlement clients have FDIC insurance and your deposits are fully insured, up to the FDIC limits (currently $250,000).
Contacting ClearOne Advantage
Skip the wait, chat now for faster service!
ClearOne Advantage's hours of operation time are:
Phone: Monday – Friday, 9 AM – 8 PM EST
Chat: Monday-Friday 8:00 AM - 12:00 AM EST, Saturday 9:00 AM - 6:00 PM EST
Skip the wait, chat now for faster service!
Yes, we encourage you to keep up with your progress by visiting your Client Portal on a regular basis. You can also use the "Chat" feature to ask specific questions about your account.
Skip the wait, chat now for faster service!
Live Chat: Live chat with a Client Success specialist is available through the client portal during business hours for any urgent matters.
Phone: Call 1-888-768-4767 for assistance with any urgent matters.
Email: Send inquiries to [email protected] for non-urgent matters.
Managing My Account
Our negotiators focus on the accounts that offer the best opportunity for settlement first. We look at several factors, including the creditor's typical negotiation timeline, the account balance, and how long the account has been delinquent.
This strategic approach allows us to secure meaningful savings and move your program forward efficiently. With over 17 years of experience and long-standing relationships with many major creditors, our team knows how to prioritize accounts to achieve the strongest results for you.
You can feel confident knowing every decision we make is based on what's best for your success and long-term financial freedom.
Yes, it may be possible to complete the program early. Finishing sooner depends on factors such as the amount of debt enrolled, payment consistency, and the availability of funds for settlements.
One way to potentially shorten the program timeline is by increasing the monthly draft amount. Higher monthly deposits can allow funds to accumulate faster, which may help negotiations progress more quickly. Changes to draft amounts may require updates to the program timeline and estimated completion date. Another option is making a lump sum payment toward the remaining enrolled debt.
Draft amounts can be adjusted through the client portal, please visit your "My Draft" section to make updates or by using live chat with a Client Success specialist.
If further assistance is needed:
Ava can help guide you through the update process. Live chat with a Client Success specialist is available during business hours. Phone support is available at 1-888-768-4767, or by emailing [email protected], if further help is required.
To add an account, the following steps are required:
Provide documentation:
Upload a recent statement, on the portal under My Documents, dated within the last 60 days that includes the client's full name, creditor name, account number, balance, and statement date. Accounts must have a minimum balance of $450 to qualify.
Confirm eligibility:
Only unsecured debts—such as credit cards, personal loans, and eligible medical bills—can be added. Accounts tied to assets, such as vehicles or property, are not eligible. Once submitted, the account will be reviewed to confirm eligibility and next steps.
To remove an account, chat with a Client Success specialist for immediate assistance.
If further assistance is needed, Ava can help guide you through the process. Live chat with a Client Success specialist is available during business hours, and phone support is available at 1-888-768-4767, or by emailing [email protected], if further help is required.
Banking information updates should be submitted at least five business days before the next scheduled draft. Updates typically take three to five business days to process. Live chat with a Client Success specialist on your portal or phone support is available at 1-888-768-4767.
When updating, you will need the following information:
- Routing number
- Account number
- Account type (checking or savings)
Providing complete and accurate information helps prevent processing delays.
Important timing notes:
- If a draft occurs while new banking information is still processing, the payment may not be successful. If a draft occurs while new banking information is still processing, the payment may not be successful and may pull from the previous information we have on file.
- Once the update is complete, any missed payments can be reprocessed through the client portal.
Keeping banking information current helps ensure drafts, refunds, and deposits are processed without interruption.
Chat with a Client Success specialist is available during business hours. Phone support is available at 1-888-768-4767, or by emailing [email protected].
Keeping contact information current helps ensure important updates, settlement notifications, and program communications are received without interruption.
The fastest and most secure way to send creditor statements or correspondence is through the client portal.
Self-service (recommended):
- Log in to the client portal.
- Go to the My Documents section.
- Upload copies of statements, letters, or other creditor correspondence.
Uploading documents through the portal ensures they are routed directly to the appropriate team for review.
Submitting documents promptly helps prevent delays and supports ongoing negotiations.
If further assistance is needed:
Ava can help guide you through the update process. Live chat with a Client Success specialist is available during business hours. Phone support is available at 1-888-768-4767, or by emailing [email protected], if further help is required.
Drafts can be updated or rescheduled directly through the client portal. Requests should be submitted at least five business days before the scheduled draft date.
Self-service (recommended):
- Log in to the client portal.
- From the dashboard, go to the My Drafts section.
- Select Edit Drafts next to the draft to be changed.
- Follow the on-screen prompts to adjust the date or amount.
Staying consistent with monthly drafts is important for keeping negotiations active. Missed or delayed drafts may pause negotiations, and in some cases, a canceled creditor agreement may need to be renegotiated under different terms.
If further assistance is needed:
Ava can help guide you through the update process. Live chat with a Client Success specialist is available during business hours. Phone support is available at 1-888-768-4767, or by emailing [email protected], if further help is required.
Yes. All settlements must be reviewed and authorized before they are finalized.
When a settlement is reached, it is presented for review through the client portal. Notifications may be delivered via the client portal, email, text message, and phone call. No settlement is completed without authorization.
Once approved, the settlement is processed according to the agreed terms. Timely acceptance of settlement offers is critical to your program's success. Delays in accepting offers can jeopardize your progress, potentially resulting in missed payment deadlines or expired settlement agreements.
If a draft is missed or a payment fails, we're here to help you get back on track quickly. A missed draft can cause a temporary setback in your program, and if it happens during an active settlement, the creditor may void the agreement. The sooner it's resolved, the faster we can resume negotiations and keep your progress moving forward.
You can reschedule a draft with your Client Success team through your client portal's chat feature.
If further assistance is needed, phone support is available at 1-888-768-4767, or by emailing [email protected], if further help is required.
Clients considering canceling the program are encouraged to reach out so available options can be reviewed. There may be alternatives or adjustments that can help address challenges with continuing the program, depending on individual circumstances.
Log in to the client portal and use live chat to connect with the Client Relations team. Chat allows the team to review the account and discuss options quickly.
Additional contact options:
- Phone: Call 888-744-9361 to speak with the Client Relations team.
- Email: Send an email to [email protected] and include the best time to be reached.
Contacting the Client Relations team allows the opportunity to review concerns, explore possible solutions, and understand next steps before making a final decision.
Managing Creditors while on the ClearOne Program
If a creditor contacts you with a settlement offer, do not accept the offer directly.
Self-service (recommended):
Log in to the client portal and upload the offer or any related correspondence in the My Documents section so it can be reviewed by the negotiation team.
What happens next:
- The negotiation team will review the offer
- If the offer is appropriate, it will be evaluated and negotiated as needed
- Any settlement must be presented to you for review and approval before it is finalized
Accepting an offer directly with a creditor may impact ongoing negotiations or require the agreement to be reworked.
If further assistance is needed:
Ava can help guide you through uploading the offer. Live chat with a Client Success specialist is available during business hours. Phone support is available at 1-888-768-4767, or by emailing [email protected], if further help is required.
Creditor calls are to be expected. You are not obligated to speak to your creditors. There are many reasons we do not recommend speaking to creditors. Once they know they can contact you they will continue to contact you; they might not want to speak to a 3rd party if they can contact you directly. Also, keep in mind that creditors may use scare tactics such as telling you that they do not work with debt settlement companies. They may tell you they are willing to work with you to convince you to make a payment. Speaking with creditors will interfere with the negotiation process.
Some clients have gone as far as changing their phone number and you can also make sure your phone number is unlisted and unpublished.
It is normal that you receive account statements or collection calls from your creditors. You do not need to worry about keeping us updated with regular monthly statements or delinquent notices. We ask that you keep us updated with any third party collection notices that state the account has been transferred to their collection office and any settlement offer letters. The fastest and most secure way to send creditor statements is through the client portal.
- Log in to the client portal
- Go to the My Documents section
- Upload copies of statements, letters, or other creditor correspondence
Uploading documents through the portal ensures they are routed directly to the appropriate team for review.
Submitting documents promptly helps prevent delays and supports ongoing negotiations.
If further assistance is needed:
Ava can help guide you through the update process. Live chat with a Client Success specialist is available during business hours. Phone support is available at 1-888-768-4767, or by emailing [email protected], if further help is required.