Debt Settlement Questions & Answers

Step 1: Qualify

First, you go through a thorough consultation with one of our professionally trained consultants.  They will review your financial situation and help you decide whether you may be a good fit for a debt settlement program.

In general, we accept individuals who are in a state of financial hardship and are struggling to keep up with their monthly payments. A "hardship" is broadly defined and could be any number of financially damaging events, such as loss of employment, underemployment, pay cut, injury, job downsizing, sudden loss of income, catastrophic theft, medical problems and much more.

Step 2: Enroll

If you qualify for the program, we will walk you through the enrollment process.  We even allow all clients to use an electronic document review and signature service to make the enrollment process as simple as possible.

Step 3: We'll Negotiate

Once enrolled, you will begin saving and setting aside funds in your settlement account.  Typically, this account is administered by a third party payment processor and all funds are held in an FDIC insured account.   You are in complete control of your settlement account at all times.

As your funds grow, our trained negotiators will approach each of your creditors, one by one with the goal of negotiating settlements of your enrolled accounts for less than the full outstanding balance owed. Due to our size, relationships, and knowledge of the creditors' own processes, we are in a prime position to negotiate on your behalf.

Step 4: You'll Graduate**

Our average estimated program length is 2-3 years in duration.  Obviously, individual results vary and your ability to save and set-aside sufficient funds directly impacts your program length.  Generally, the more you can set-aside, the faster we will be able to conduct negotiations with your creditors.  The goal is to settle all your enrolled debt within the projected program length, resulting in a $0 balance owed to your enrolled creditors!

**Disclaimer - Individual results may vary and are dependent on successful completion of program and ability to save and set-aside funds. ClearOne Advantage does not assume or pay any debt, nor does it provide legal advice or offer credit repair. Read and understand the contract terms before enrolling.