Clarity Asset Group provides a debt settlement program that they hope will bring
“big banks” and regular consumers closer together when dealing with overwhelming
debt burdens. As the number of Americans facing a financial hardship continues
to grow, the need for help to get back on track financially is growing as well.
Clarity Asset Group wants to provide every potential client with the option to
make an informed decision when selecting a debt relief process.
Here are some quick facts about Clarity Asset Group:
Company Founded: unknown
Years In Business: unknown
BBB Rating: no listing
BBB Complaints: n/a
Escrow Available: yes (3rd party holding company)
Source of Funds: client savings/payments
Fee Structure: all inclusive and included in monthly payments
Avg. % Settlement of Amount Owed: 40%-60%
Refund Policy: unknown
Minimum Debt Required: $10,000 total unsecured debt/$700 per creditor
About the Company
Various searches on the Better Business Bureau failed to turn up a report for
Clarity Asset Group. This company is a member of The Association of Settlement
Companies as well as a the International Association of Professional Debt
Arbitrators.
The Program
Clarity Asset Group provides an online form but encourages interested visitors
to call their toll free number to speak to a consultant. After a brief
consultation they can determine if you qualify for the program and can offer
more information about the steps involved in the process. Like all other debt
settlement companies, you would be enrolling in a program where you make one
monthly payment into an escrow account which is used for future settlements.
Clarity Asset Group will contact your creditors on your behalf to negotiate a
lower payoff amount saving you money in the total amount of debt repaid.
Program Cost
The cost of this program must be determined after your free consultation. The
fee structure is based on a percentage of debt entered into the program, however
there is no indication if these fees are front loaded or stretched out for the
length of the program. The difference between the two will have a significant
impact on how quickly you can save money for settlements (thus avoiding
creditors who tire of waiting for their money and pursue legal actions).
Website Experience
Reviewing this website was not difficult as the information is clearly presented
and not hidden in between dozens of links to useful however often confusing
tools or articles. The information provided offers visitors a clear and concise
idea of what the debt settlement process entails, however there may not be
enough of an emphasis on risks involved which is important for people unfamiliar
with this method of debt relief. I like the fact that they provide client access
which allows clients to follow their progress and access their account 24/7 and
also that they stress clients must understand and sign off on the fee structure
before proceeding. This is important because many people fail to truly
understand what type of agreement they are entering and later find themselves
deeper in debt and frustrated because they “thought” one thing and the company
failed to live up to that expectation.
There is one thing that I found odd about this review. The website claims they
are an industry leader and have been providing services for years, however I am
unable to find much information about this company elsewhere on the web. I would
think that a company that has been around before the “economic fallout” of the
past two years would have some history on the Internet. Previous clients,
satisfied customers, disgruntled employees or something that would indicate
their position in the industry. Without a record on the Better Business Bureau
and limited information on the Internet, the company remains bit of a mystery.
