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 Clear Choice Debt Relief is a company offering both debt management plans or
debt settlement services to consumers carrying a heavy debt burden. By filling
out their online form or placing a call to their consultants, you can find out
more with a free 10 minute consultation. Clear Choice Debt Relief operates out
of West Linn, Oregon.
Here are some quick facts about Clear Choice Debt Relief (CCDR):
Company Founded: BBB file opened in February of 2009, however actual start date
is not known by BBB.
Years In Business: unknown
BBB Rating: F
BBB Complaints: 0 complaints processed by BBB in 36 reporting period
Escrow Available: trust account controlled by client
Source of Funds: client savings/payments
Fee Structure: unknown
Avg. % Settlement of Amount Owed: 40%-60%
Refund Policy: money back guarantee mentioned on site, inquire when speaking to
a consultant for more information
Minimum Debt Required: $750 or more per creditor
About the Company
Clear Choice Debt Relief currently has a rating of F on the Better Business
Bureau. The reasons listed for this rating include: BBB concerns with the
industry in which the business operates, insufficient information to determine
length of time this business has been operating and insufficient background
information on this business. The BBB has requested basic information and has
not yet received a response therefore the information on the report may not be
current. This company was found on The Association of Settlement Companies,
however they are listed as a non-active member or not in good standing. They are
a member of the International Association of Professional Debt Arbitrators.
The Program
One of the programs offered by CCDR is a debt management plan. If you are able
to make your monthly payments but are not seeing any progress in reducing your
debt, you may qualify for this program. Estimated length of time to reach
financial freedom is 3-5 years with you making one monthly payment to CCDR who
then allocates the proper payments to each of your creditors. By working with
CCDR, they will attempt to reduce your interest rates and eliminate penalties or
fees associated with your accounts. This program repays your debt in full.
The other option available to consumers struggling with debt is negotiation of
unsecured debt. This option is available only to those who are experiencing a
true financial hardship and are unable or about to be unable to make their
minimum payments. This option involves the standard debt settlement process
which involves CCDR contacting your creditors to negotiate a reduced total
payoff of the current balance owed. This program is 36 months in length and
requires you to deposit or make monthly payments into a trust account in order
to accumulate money for settlement payments.
Program Cost
The cost of enrolling in the debt settlement program is based on the amount of
debt enrolled in the program. The fees will be based on 15% of the total amount
enrolled. CCDR does not front load their fees which should certainly make it
easier to build settlement funds. Their fee structure is set up to collect their
fees throughout the length of the program. This also proves as an incentive for
them to continue to work on your behalf versus companies that charge and receive
all of their fees in the first months or year of the program.
No information is provided as to the cost of the debt management plan.
Website Experience
The actual website experience was fairly routine. The information provided was
useful and presented in a way that is easy to locate and understand. Information
that is not disclosed on the site is hopefully covered in the free consultation.
They make a point of stressing the differences between the two programs as well
as the circumstances needed to qualify which will be helpful for people on the
fence between debt settlement and other debt relief option. The FAQ section
covers most of information generally associated with the debt settlement process
including the negative consequences many people are often unaware of when
seeking this type of alternative debt relief option. I was unable to locate
comment, complaints or other information on the web, therefore each potential
client should carefully research this company and the programs before
proceeding.
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