Clear Coast Debt Relief Review: Is This Company Worth It?

There is one question that every consumer asks themselves when they receive a Pre-Selected direct mail offer with a low-interest rate: Is this offer genuine? It seems too good to be true.

Clear Coast Debt Relief Overview

In addition to debt consolidation and non-bankruptcy options such as debt settlement and negotiation, Clear Coast Debt Relief provides debt relief services to consumers. Their services are advertised on the website clearcoastdebt.com and via direct mail with “prescreen credit offers.” They are a division of ALAS Services, Inc. and Clear Coast Financial Group, a Florida limited liability company.

The company is not listed on any lending licenses that appear to be held by Clear Coast Debt Relief.

There is a possibility that you have recently received a mail offer from Clear Coast Debt Relief. There may have been something like this in the statement:

FINANCIAL RELIEF FOR AFFECTED FAMILIES

Clear Coast Financial has selected you for an exclusive Hardship Recovery Loan of up to $25,141. With a 4.99% interest rate, you can consolidate these balances into one loan.

Initially, it appears to be an excellent deal.

To get a better understanding of this company, we decided to do some digging.

• Consumers can get debt settlement services from Clear Coast.
• Your debts will not be resolved for a specific amount, percentage, or timeframe.
• Depending on the state, their service may not be available and their fees may vary.
• In addition to increasing your debt due to fees and interest accrued, their debt settlement services can negatively impact your creditworthiness.

Clear Coast Debt Relief: What is it?

The Clear Coast Debt Relief Company, also known as Clear Coast Financial, specializes in helping customers manage their debt and provides a variety of debt management programs. Clear coast Debt is a member of the American Fair Council and has been in business since 2018; its address is 1070 East Indiantown Road, Suite #406, Jupiter, FL 33477, and it can be contacted at (866) 837-0095 or [email protected]

They advertise their expertise as negotiators, in contrast to what their direct mail offers may claim.

Although they are not accredited by the Better Business Bureau (BBB), they have received an impressive A+ rating, a rating of four out of five stars from customers. Customer reviews are limited to eight and there are no complaints.

What does Clear Coast Debt Relief do?

To offer you debt relief options, Clear Coast Debt Relief requests your personal and financial information through a free consultation.

As soon as you stop paying your debts, the company will open a separate bank account under your name. Then you deposit money into the account every month. Upon determining there is enough money in the account to make a lump-sum offer, the settlement company will negotiate with the creditor on your behalf to accept a lower amount.

Keep in mind that Clear Coast doesn’t guarantee a specific amount or percentage of debt resolution within a certain time.

Is Clear Coast Debt Relief able to settle all kinds of debt?

In contrast to bankruptcy and debt consolidation loans, debt settlement is not a form of bankruptcy. In this case, the primary focus is on resolving unsecured debt, which does not require collateral. In addition to debt relief, Clear Coast Debt Relief can assist with debts such as:

• Debt from credit cards
• Loans for individuals
• Credit lines
• Medical bills
• Collections
• Repossessions
• Insolvency of businesses
• Debts incurred by students

What is the credit impact of Clear Coast Debt Relief?

There is a risk that debt settlement services will negatively affect your credit score, and you may be sued by creditors or contacted by debt collectors as a result of using such services. Additionally, fees and interest could increase the outstanding balances of your enrolled accounts.

If you want to successfully settle your debt, you must also have the funds available to pay the agreed-upon amount. You may be able to consolidate your debt through a loan if you don’t have the funds to negotiate.

What is the cost of Clear Coast Debt Relief?

According to their website and direct mail, Clear Coast Debt Relief does not explicitly disclose how much they charge for their services in total.

For a free consultation, the company asks for an approximate estimate of the customer’s total unsecured debt, their full name, contact information, and their unique prescreening code.

Moreover, they claim to work for free until their clients see results and don’t charge upfront fees. States may charge different fees for their services.

What is the tax impact of settling your debt with Clear Coast Debt Relief?

It is important to note that different states have different laws regarding debt resolution. For more information about the tax implications of settling your debt for a lesser amount than the total amount of your debt, please speak to a tax professional.

BBB Reviews for Clear Coast Debt Relief

It is important to note that the BBB does not accredit Clear Coast Debt Relief, but the BBB has given the company an A+ rating. Taking a closer look at their account, we found that there are only eight customer reviews, with an average rating of 4.5 stars.

So, is it a scam or legit?

Clear Coast Debt Relief is a legitimate debt relief company, and we are not dealing with a scam.

Even though they are not accredited by the Better Business Bureau, their customers have given them 4 out of 5 stars. Working with them could be a good experience for you.

Clear Coast Debt Relief is not a bank, savings and loan institution, thrift, payday loan lender, or mortgage lender. They assist consumers with debt resolution products; the company provides debt relief services.

Researching and reading customer reviews is the best way to find a good debt relief company. In this way, you can ensure that you are receiving the best deal available.