Debt Settlement Questions & Answers - Most recent questions:

Which debts can be included in the Program? Which cannot?

Fri, 14 Nov 2008 15:57:00 GMT

We can accept most types of unsecured debt.

This includes:

Credit card accounts
Department store cards
Personal loans
Medical bills
Accounts with collection agencies
Federal credit union
Payday advances

It is required that you include all of these debts in the program.�

Accounts we cannot work with include secured debt of any kind such as:

Auto loans
Mortgages
Child support
Alimony debts
Student loans
Public utility bills
Military accounts (Star, Omni)

How does the ClearOne Advantage Debt Settlement Program work? What do I have to do?

Fri, 26 Sep 2008 20:10:00 GMT

Step 1: Qualify

If you qualify, we enroll you into the debt reduction 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, injury, job downsizing, sudden loss of income, catastrophic theft. medical problems, and much more.

Step 2: Enroll

During enrollment, we'll help you set up a bank account in your name. The bank account is set up using Global Client Solutions, LLC*, an agent of Rocky Mountain Bank & Trust.� You'll then make monthly payments to that account instead of making your monthly minimums to your creditors (which usually only cover interest and fees anyway).

Instead of having to remember and manage all of your accounts, you make one monthly payment into your settlement account. This payment could be significantly lower than all of your old monthly minimums. The funds can be automatically set up to transfer from your existing checking account and into your new settlement account, should you desire.

*To Contact Global Customer Service -- toll-free at: (800) 398-7191 � by email at: customersupport@globalclientsolutions.com � by fax at: (866) 355-8228 or by mail at: Global Client Solutions, LLC 9820 E 41^st Street, Suite 400 Tulsa, Oklahoma 74146

Step 3: We'll Negotiate

While your fund grows, month by month, our experts will approach each of your creditors, one by one, and negotiate settlements, typically a lower amount you owe on each account**. Due to our scale, relationships, and knowledge of the creditors'own processes, we are in a prime position to negotiate on your behalf.

**Disclaimer - Individual results may vary and are dependent on successful completion of program and ability to save 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.

Step 4: You'll Graduate

Over the next two to four years, we will negotiate settlements with every one of your creditors, so that at graduation you are totally debt free***.

***Disclaimer - Individual results may vary and are dependent on successful completion of program and ability to save 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.

Can I do this on my own?

Fri, 26 Sep 2008 20:03:00 GMT

Yes, of course you can try. But as you can imagine, it is very difficult.

Just as in a legal predicament; you can represent yourself in court, but the smarter decision would be to hire a great attorney to represent you. Since creditors have a vast array of sophisticated (and some rather blunt) methods of getting you to pay your debts, you can have comfort knowing that ClearOne�Advantage�has a team of experts with many years of experience who do nothing but negotiate on behalf of their cases. Creditors are less willing to negotiate a reduced settlement on their balances if the consumer recently did BTs or CAs.� If you have considered Consumer Credit Counseling, a Debt Consolidation loan, or Bankruptcy, we may be able to help you.*

*Individual results may vary and are dependent on successful completion of program and ability to save 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.

How does ClearOne Advantage's Program compare to Consumer Credit Counseling (CCC)?

Fri, 26 Sep 2008 20:02:00 GMT

The answer to this question lies with ClearOne Advantage's mission:

To�reduce your total debt, (with credit counseling they will not reduce your total debt, period).*
To lower your monthly payments (in our many years in this business, we have never seen any CCC client's monthly payments go down as low as we can get them).*
To design a program that will make you 100% debt free in 2-4 years or less. (With credit counseling you can expect that process to take five years.)*

* Disclaimer - Individual results may vary and are dependent on successful completion of program and ability to save 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.

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What is interesting is that CCC companies earn money because they get paid by the creditors. The industry term for this compensation is "Fair Share." This is why CCC companies want you to pay back 100% of what you owe - because it gets them so much more money.

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Is this legal?

Fri, 26 Sep 2008 20:00:00 GMT

Absolutely. This is a completely legal process. For most of our clients, it is the only effective way to become debt free. Without the use of debt negotiations, bankruptcy would be the only option left for many our clients. Through our negotiation efforts, the creditors do recover a portion of the amount owed. So this is a win-win situation for both client and creditor.

Keep in mind however, that ClearOne Advantage is not a law firm and we cannot give legal advice.*

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* Disclaimer - Individual results may vary and are dependent on successful completion of program and ability to save 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.