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Clear One Advantage In-Depth Review
In a nutshell: ClearOne Advantage is a full-service debt consolidation company that has over 10 years of experience.
Clear One Advantage In-Depth Review
In a nutshell: ClearOne Advantage is a full-service debt consolidation company that has over 10 years of experience.
Clear One Advantage In-Depth Review
In a nutshell: ClearOne Advantage is a full-service debt consolidation company that has over 10 years of experience.
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Overview

ClearOne Advantage is a full-service debt consolidation company that has over 10 years of experience helping those struggling with debt. Based in Baltimore, the company works helps its clients consolidate and pay off debt quickly and smoothly, creating a sensible plan that will allow them to become debt-free sooner.

Types of Deb Covered

The amount that you owe and where you’re located are both important in determining if you qualify for ClearOne. To qualify, you must live in one of the 22 states that they service and your debt needs to exceed $15,000. Their rates can range from around 20% to 25% of your total debt amount.

Application Process

ClearOne’s application process isn’t complicated. Start out by entering the total amount of debt that you owe and the type of debt that it is. Next, you enter details about yourself that may include your name, email address, home address, and the last four digits of your SSN. Your credit score will not be affected and trying the process is absolutely free. You will be contacted by a ClearOne debt specialist who will help you through the process after you’ve submitted all of your information.

Debt Services

ClearOne helps those with debts of $15,000 or more by providing personalized debt consolidation services. Their debt specialists can handle many types of debt, including credit card debt, medical debt, and collection debt.

Customer Support

ClearOne’s customer support has an excellent reputation and for good reason. The support team consists of hand-picked debt advisors with financial backgrounds who help clients navigate the complicated debt consolidation process.

You can easily reach a ClearOne representative by phone or by email. The phone lines are open Monday to Friday from 7:00 AM - 11:00 PM (EST) and Saturday to Sunday from 8:00 AM - 11:00 PM (EST). If you are outside of these hours you can also send an email and expect a swift response.

Another way ClearOne is helpful in the customer service department is with their resource center which includes FAQs, information about upcoming seminars, and even an education center that has educational articles. These resources can help you learn more about ClearOne’s program and debt solutions in general. With a financial decision this impactful, it’s good to know that ClearOne is there to educate you and help you through the process. With ClearOne, you won’t be navigating the debt consolidation process alone.

prosAndCons icon
Pros
  • Individualized plans
  • No upfront fees
  • Free savings estimate
prosAndCons icon
Cons
  • Not available in all states
  • Services can be costly
ClearOne Advantage at a Glance
8.2Editorial Score
Application process
8.0
Process is efficient, documentation requirements are reasonable, may require more detailed financial information
Customer support
9.0
Phone and chat support, Monday through Friday from 9:00 am to 8:00 pm EST, and Saturday from 9:00 am to 6:00 pm EST, email support
Eligibility criteria
9.0
No credit score requirement, no strict income requirement, operates in almost all states
Customer rewards
8.0
No upfront fees, 90-day money-back guarantee
Financial tools and resources
7.0
Debt relief and settlement, some educational resources available
FAQs About Debt Consolidation Loans
Looking to improve your financial well-being and simplify your monthly payments? In addition to comparing some of the best debt consolidation loan companies, we've compiled some of the most commonly asked questions about debt consolidation loans to help you make an informed decision.
What is a Debt Consolidation Loan?
A debt consolidation loan is a financial tool that allows borrowers to combine multiple high-interest debts into a single, fixed-rate loan with one monthly payment. Debt consolidation loans often offer lower interest rates than credit cards, making them a practical option for managing debt more effectively. By consolidating debt into a structured loan, you gain better control over your finances and can work toward becoming debt-free on a predictable timeline.
How Does a Debt Consolidation Loan Work?
Borrowers typically have two primary options for consolidating debt:
  • Balance transfer credit card: A 0% interest balance transfer credit card allows borrowers to transfer multiple debts onto a single card and pay off the balance within a promotional period.
  • Debt consolidation loan: A fixed-rate personal loan designed for loan consolidation, where the borrower receives a lump sum to pay off existing debts and then repays the new loan in fixed monthly installments.

Choosing the best debt consolidation loan depends on your financial situation, credit score, and interest rates offered by different debt consolidation loan companies.
Does debt consolidation affect credit?
A debt consolidation loan can impact credit in both positive and negative ways:
  • Potential benefits: Making consistent, on-time payments can improve your credit score over time. Additionally, consolidating multiple accounts may help lower your credit utilization ratio.
  • Potential drawbacks: If a borrower continues to accumulate new debt after consolidating, their credit score could suffer. Late or missed payments on the new loan can also negatively affect credit scores.

Choosing the best debt consolidation loan depends on your financial situation, credit score, and interest rates offered by different debt consolidation loan companies.
What is the Best Debt Consolidation Loan Option?
The best debt consolidation loan for you will depend on several factors, including:
  • • Total debt amount and type of debt (credit cards, personal loans, medical bills, etc.).
  • •Financial history and credit score (affects loan eligibility and interest rates).
  • • Total debt amount and type of debt (credit cards, personal loans, medical bills, etc.).
  • •Repayment terms and interest rates (compare lenders for the best offers).

Borrowers should compare the best debt consolidation loans by reviewing different lenders, loan terms, and interest rates. Our comparison tool provides insights into the best debt consolidation loan companies, helping you find a lender that fits your needs.
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