ClearOne Advantage

4.8/5

ClearOne Advantage is a Baltimore-based debt settlement company founded in 2008. BBB A+ accredited since November 2024. Fees 18-29% of enrolled debt. 4.8 Trustpilot stars. 120 CFPB complaints. 4.5 Google rating from 4,907 reviews.

Editorially reviewed by Harvey Brooks

From Free/mo BBB: A+ Free Consultation Visit Website

ClearOne Advantage Review

ClearOne Advantage, LLC is a debt settlement company founded in 2008 and headquartered at the Broom Factory, 3500 Boston Street, Suite 413, Baltimore, Maryland 21224. The company specializes in negotiating reduced balances on unsecured consumer debts including credit cards, medical bills, and personal loans. ClearOne achieved BBB accreditation in November 2024 with an A+ rating at their Tempe, Arizona office location, and maintains a strong consumer review profile with 4.8 stars on Trustpilot from over 2,000 reviews and 4.5 stars on Google from nearly 5,000 reviews.

ClearOne's debt settlement process follows the industry-standard model: consumers enroll their unsecured debts (minimum typically $10,000), stop making payments to creditors, make monthly deposits into a dedicated escrow account managed by Global Client Solutions (GCS), and have ClearOne's Certified Debt Specialists negotiate lump-sum settlements for less than the full balance owed. The company advertises potential savings up to 50% on enrolled debts before fees. Fees range from 18-29% of total enrolled debt, which is on the higher end of the industry standard (15-25%). Additionally, GCS charges a monthly escrow maintenance fee of $8.35-$9.45. Under FTC regulation, all fees are charged only after a successful settlement is reached.

The company has 120 complaints in the CFPB database, which is moderate for a debt settlement company of this size. Common complaint themes include fee transparency, settlement timeline expectations, and communication during the creditor negotiation process. ClearOne distinguishes itself through extended customer service hours (9am-8pm EST weekdays), free initial consultations conducted by Certified Debt Specialists, and educational content about debt relief options. The company is licensed in multiple states with specific compliance pages for Maryland, Texas, Nevada, and California residents.

In the debt relief landscape, consumers should compare ClearOne against both settlement competitors and alternative approaches. National Debt Relief (BBB A+, 4.74/5 from 5,500+ BBB reviews) is the market leader with lower typical fees (15-25%). TurboDebt (BBB A+, 4.9 Google stars from 7,800+ reviews) offers similar settlement services. However, consumers should first evaluate whether debt settlement is necessary at all. Debt consolidation loans from credit unions or online lenders combine debts at lower interest without the credit damage of settlement. Credit counseling through nonprofit NFCC-member agencies provides free budgeting guidance and can enroll consumers in debt management plans at reduced interest rates. Credit monitoring services help track credit health throughout any repayment strategy. A debt payoff calculator can help consumers model whether settlement, consolidation, or accelerated direct repayment is most cost-effective for their situation. Consolidating high-interest balances into a single installment loan with a fixed rate can reduce total interest paid and simplify monthly budgeting.

Services & Features

Debt settlement and creditor negotiation for unsecured debts

Free personalized debt evaluation with Certified Debt Specialists

Dedicated escrow account through Global Client Solutions

Credit card debt relief program

Medical debt negotiation

Personal loan debt settlement

Financial wellness tools and educational resources

Online account portal for program progress tracking

Customer service support (9am-8pm EST weekdays, weekend hours available)

State-specific compliance programs (MD, TX, NV, CA)

Feature Checklist

Credit Education

Identity Theft Protection

Score Tracking

Mobile App

Online Portal

Personal Advisor

Pricing Plans

Debt Settlement Program

Free /mo

Free debt consultation and evaluation
Creditor negotiation and settlement
Dedicated resolution specialist
No upfront fees — performance-based pricing
Online progress tracking
Available for $10,000+ in unsecured debt

Get Started

Pros & Cons

Pros

BBB A+ accredited since November 2024, demonstrating commitment to complaint resolution standards
Strong consumer review profile with 4.8 Trustpilot stars and 4.5 Google stars from nearly 5,000 reviews
Free initial consultation with Certified Debt Specialists before any commitment
Extended customer service hours (9am-8pm EST weekdays) for accessible support
FTC-regulated fee-after-settlement model means no upfront costs before results are delivered
Advertised potential savings up to 50% on enrolled debts before fees
Educational content and financial wellness tools included for enrolled clients

Cons

Fees of 18-29% of enrolled debt are on the higher end of the industry standard (15-25%)
Additional escrow maintenance fee of $8.35-$9.45/month through Global Client Solutions adds to total cost
120 CFPB complaints indicate recurring consumer experience issues around fees and timelines
Debt settlement requires stopping creditor payments, causing serious and lasting credit score damage
No guarantee all creditors will agree to settle; some may pursue collection lawsuits
Program typically takes 24-48 months to complete, during which consumers carry delinquent account status
Forgiven debt may be taxable as income, creating unexpected tax liability

Rating Breakdown

Value

5.0

Effectiveness

4.8

Customer Service

5.0

Transparency

5.0

Ease of Use

4.5

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Frequently Asked Questions

Is ClearOne Advantage legitimate?

Yes. ClearOne Advantage is a registered company headquartered in Baltimore, MD, founded in 2008. They hold a A+ rating with the Better Business Bureau and are BBB-accredited.

How much does ClearOne Advantage cost?

ClearOne Advantage plans start at Free per month with no setup fee. No money-back guarantee is offered.

Quick Facts

Founded: 2008
Headquarters: Baltimore, MD
Employees: 201-500
BBB Rating: A+
BBB Accredited: Yes
Certifications: BBB A+ rating, accredited since November 2024 Founded 2008 in Baltimore, Maryland Certified Debt Specialists conduct consultations Fees 18-29% of enrolled debt (FTC-regulated, after settlement only) 120 CFPB complaints on file Escrow managed by Global Client Solutions (GCS) Licensed in multiple states (MD, TX, NV, CA and others)
Starting Price: Free/mo
Setup Fee: None
Free Consultation: Yes
Money-Back Guarantee: No

Visit ClearOne Advantage

+1 888-768-4767 Broom Factory, 3500 Boston St Suite 413, Baltimore, MD 21224

CreditDoc Diagnosis

Doctor's Verdict on ClearOne Advantage

ClearOne Advantage is a solid mid-tier debt settlement provider with recent BBB A+ accreditation (Nov 2024), strong review profiles (4.8 Trustpilot, 4.5 Google), and 16 years of operating history since 2008. However, the 18-29% fee range is higher than competitors like National Debt Relief (15-25%), and the additional GCS escrow fees add up. The 120 CFPB complaints are moderate but worth noting. Best for consumers with $15K+ unsecured debt who prefer a provider with Certified Debt Specialists and extended support hours. Compare fee quotes against National Debt Relief and TurboDebt before committing.

CFPB Transparency Report

Public data from the Consumer Financial Protection Bureau

Issues Resolved: 85%
Timely Responses: 90%

Source: consumerfinance.gov | Last checked 2026-04-05

Best For

Consumers with $10,000+ in unsecured debt who are already behind on payments and in financial hardship
Those who have been declined for debt consolidation loans and cannot afford nonprofit DMP monthly payments
Individuals willing to accept 24-48 months of credit damage as a trade-off for potential 30-50% debt reduction
Consumers who value extended support hours and Certified Debt Specialist guidance during the settlement process

Updated 2026-04-05

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National Debt Relief

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Americor

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Financial Terms Explained (14 terms)

New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.

How Loans Work

Default — Loan Default

When you fail to repay a loan according to the agreed terms — usually after 90-180 days of missed payments. It's the point where the lender gives up on collecting normally.

Why it matters

Default triggers severe consequences: credit score drops 100+ points, the debt may be sent to collections, you could be sued, and your wages or assets could be seized.

Example

You miss 4 consecutive car payments. The lender declares your loan in default, repossesses your car, sells it at auction for $8,000, and you still owe the remaining $5,000 (called a deficiency balance).

Legal Terms

CFPB — Consumer Financial Protection Bureau

A federal agency created in 2010 to protect consumers from unfair financial practices. They write rules, supervise financial companies, and handle consumer complaints.

Why it matters

The CFPB is your most powerful ally against predatory lenders. Filing a complaint with them gets a response from the company within 15 days — companies take CFPB complaints seriously.

Example

A debt collector calls your workplace after you told them to stop. You file a CFPB complaint online. Within 15 days, the collection agency responds and agrees to stop. The CFPB tracks complaint patterns across all companies.

FDCPA — Fair Debt Collection Practices Act

A federal law that limits what debt collectors can do. They can't call before 8am or after 9pm, can't harass you, can't lie, and must stop contacting you if you request in writing.

Why it matters

Knowing your FDCPA rights stops abusive collection tactics. If a collector violates the law, you can sue for up to $1,000 per violation plus attorney fees.

Example

A collector calls your workplace 3 times after you told them not to. That's 3 FDCPA violations. You hire a consumer attorney (free — they get paid by the collector). The collector settles for $3,000.

Garnishment — Wage Garnishment

A court order that requires your employer to withhold part of your paycheck and send it directly to a creditor. Usually happens after a creditor sues you and wins a judgment.

Why it matters

Federal law limits garnishment to 25% of disposable income. Some states have lower limits. Student loans and taxes can be garnished without a court order.

Example

You owe $8,000 on a defaulted credit card. The bank sues, gets a judgment, and garnishes your wages. On a $3,000/month net paycheck, they take $750/month until the debt is paid.

Statute of Limitations — Statute of Limitations (Debt)

A time limit (typically 3-6 years, varies by state) after which a creditor can no longer sue you to collect a debt. The debt still exists, but they lose the legal power to force payment.

Why it matters

Knowing your state's statute of limitations prevents you from being tricked into paying debts that are legally uncollectable. Beware: making a payment can restart the clock.

Example

You have a $3,000 credit card debt from 2019. Your state has a 4-year statute of limitations. In 2024, a collector calls demanding payment. The statute has expired — they cannot sue you.

Debt & Recovery

Chapter 13 Bankruptcy — Chapter 13 Bankruptcy (Reorganization)

A type of bankruptcy where you keep your assets but follow a court-approved 3-5 year repayment plan to pay back some or all of your debts. Stays on credit for 7 years.

Why it matters

Chapter 13 is better than Chapter 7 if you have a home or assets you want to keep. It can stop foreclosure and let you catch up on mortgage payments over 3-5 years.

Example

You're 3 months behind on your mortgage and have $30,000 in credit card debt. Chapter 13 stops foreclosure and puts you on a 5-year plan: you pay $600/month to catch up on the mortgage and pay 40% of the credit card debt.

Chapter 7 Bankruptcy — Chapter 7 Bankruptcy (Liquidation)

A type of bankruptcy that wipes out most unsecured debts (credit cards, medical bills) by liquidating non-exempt assets. It stays on your credit for 10 years.

Why it matters

Chapter 7 gives you a fresh start but at a steep cost: 10 years on your credit, difficulty getting loans, and you may lose assets. Income must be below your state's median to qualify.

Example

You have $45,000 in credit card debt and earn $35,000/year. Chapter 7 erases the debt. You keep exempt property (basic car, household items). Your score drops to ~500 but you're debt-free.

Charge-Off

When a creditor declares your debt a loss after 180 days of nonpayment and removes it from their books. But you still owe the money — they just stop expecting to collect it themselves.

Why it matters

A charge-off is one of the most damaging entries on your credit report and stays for 7 years. The debt is usually sold to a collection agency who will pursue you for it.

Example

You stop paying your $4,000 credit card. After 180 days, the bank charges it off and sells the debt to a collector for $800. The collector now contacts you demanding the full $4,000 (they profit from what they collect above $800).

Collections — Debt Collections

When an unpaid debt is transferred or sold to a third-party collection agency that specializes in recovering the money. Collection accounts appear on your credit report for 7 years.

Why it matters

Even a $50 collection account can drop your score 50-100 points. Some newer FICO models (FICO 9) ignore paid collections, but many lenders still use older models.

Example

An old $200 gym bill goes to collections. It appears on all 3 credit reports and drops your 720 score to 640. Paying it helps with newer scoring models but under FICO 8 (still widely used), a paid collection still hurts.

Debt Consolidation

Combining multiple debts into one single loan with one monthly payment, ideally at a lower interest rate. It simplifies repayment and can reduce total interest.

Why it matters

Consolidation works best when you get a lower rate than your existing debts. But it doesn't reduce what you owe — and extending the term can mean paying more total interest.

Example

You have: $5,000 at 22% (credit card), $3,000 at 18% (store card), $2,000 at 25% (payday loan). A $10,000 consolidation loan at 11% saves you ~$2,100 in interest over 3 years.

Debt Settlement — Debt Settlement / Negotiation

Negotiating with creditors to accept less than the full amount you owe — typically 40-60 cents on the dollar. Usually done after you've already fallen behind on payments.

Why it matters

Settlement can save thousands, but it severely damages your credit (settled accounts show for 7 years) and the IRS may tax the forgiven amount as income.

Example

You owe $15,000 on a credit card and negotiate a settlement of $7,500 (50%). You save $7,500 but: your credit drops 100+ points, the account shows 'settled' for 7 years, and you may owe taxes on the $7,500 forgiven.

DTI Ratio — Debt-to-Income Ratio

The percentage of your monthly gross income that goes toward paying debts. Lenders use it to judge whether you can afford another loan payment.

Why it matters

Most lenders want DTI below 36% for personal loans and below 43% for mortgages. Above that, you're considered overextended and likely to be denied.

Example

You earn $5,000/month gross. Your debts: $1,200 mortgage + $300 car + $200 student loans = $1,700/month. DTI = 34%. A new $400/month loan would push you to 42% — risky for lenders.

Judgment — Court Judgment (Debt)

A court ruling that says you legally owe a specific amount to a creditor. It gives the creditor power to garnish wages, freeze bank accounts, or place liens on your property.

Why it matters

Judgments are enforceable for 10-20 years (varies by state) and can be renewed. They give creditors far more collection power than a simple unpaid debt.

Example

A credit card company sues you for $8,000 and wins a judgment. They can now garnish 25% of your paycheck ($750/month on a $3,000 net salary) and freeze your bank account.

Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.

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