ClearOne Advantage: Is It a Loan? Legitimacy Review 2026

Introduction

If you are looking for a personal loan to pay off your credit cards, ClearOne Advantage is likely not what you are looking for. Unlike a bank or lender, ClearOne Advantage is a debt relief company that specializes in debt settlement.

This distinction is critical: instead of lending you money, they negotiate with your creditors to reduce your balance. This strategy is best for consumers who are falling behind on payments and cannot qualify for a low-interest consolidation loan.

In this ClearOne Advantage review, we cover how their program works, the real costs involved, and why their A+ BBB rating makes them a legitimate player in the debt relief industry.

• Not sure if Settlement is right for you? Compare ClearOne with Top Rated Loan & Relief Companies.

How ClearOne Advantage Works

ClearOne Advantage specializes in debt settlement programs that aim to reduce unsecured debts and simplify repayment through one affordable monthly payment.

Initial Consultation

The process begins with a free consultation (866) 598-9331, where a representative reviews your debts, income, and overall financial situation. If you qualify, they will explain the program, go over expected savings, and timelines. Clients can access support through the ClearOne Advantage phone number or by using the ClearOne Advantage login portal once enrolled.

Case Evaluation

After the initial consultation and if you are eligible, you’ll receive a personalized debt relief proposal. This outlines your estimated monthly payment, timeline (typically 24-48 months), and potential credit impact. All costs are disclosed before signing, and ClearOne emphasizes transparency throughout the enrollment process.

Program Selection (The Savings Account)

Most clients enroll in a single debt settlement program. Here is the key difference from a loan:

• You stop making payments directly to creditors.
• Instead, you deposit a fixed monthly amount into a dedicated FDIC-insured savings account in your name.

This builds up a lump sum of cash that ClearOne’s negotiators use as leverage. The dedicated account is not owned by ClearOne Advantage, and they can only access funds once a settlement is reached and you approve it.

Execution & Negotiation

Once enough funds accrue, negotiators contact creditors to settle debts for less than the total owed. Clients can track all negotiations and payments through the ClearOne Advantage login portal, making the process transparent.

Ongoing Support

ClearOne maintains regular communication during the program, sending settlement confirmations and account updates. Clients can reach ClearOne Advantage customer service via phone or portal messaging for assistance.

Who It’s Best For

ClearOne Advantage is best for individuals with $10,000+ in unsecured debt (credit cards, medical bills, personal loans) who are struggling to keep up with minimum payments.

It is specifically designed as an alternative to bankruptcy. If you have good credit and just want to simplify bills, a standard consolidation loan from a bank might be a better fit. ClearOne is for those who need to reduce the principal amount owed.

Stand Out Features

Single Monthly Payment
Clients make one affordable monthly payment, which funds negotiated settlements, simplifying debt management.

BBB Accreditation
ClearOne Advantage is A+ rated and BBB-accredited, which adds transparency and credibility to its services.

Secure Online Portal
Through the ClearOne Advantage portal, clients can track settlement progress, payment schedules, and account balances in real time.

No Upfront Fees
ClearOne Advantage follows FTC regulations, charging no fees until a settlement is reached and approved. This is a hallmark of a legitimate company.

Pros and Cons

Pros

• Huge Savings Potential: You pay less than what you originally owed.
• A+ BBB Rating: Indicates strong customer service and complaint resolution.
• No Upfront Fees: You only pay if they succeed.
• Simplicity: One monthly deposit replaces multiple creditor payments.

Cons

• Not a Loan: You do not get cash in hand.
• Credit Impact: Your credit score will drop because you stop paying creditors directly during the negotiation phase.
• Creditor Risks: Not all creditors agree to negotiate, and they may call you during the process.

Is ClearOne Advantage Legit?

Yes. ClearOne Advantage is a legitimate debt relief company with more than 15 years in operation, an A+ BBB rating, and compliance with the FTC Telemarketing Sales Rule.

These federal rules prohibit upfront fees and require clear disclosure of program details before enrollment. The BBB profile shows thousands of reviews and a strong record of resolving customer complaints, reinforcing the company’s credibility in a market often filled with scams.

Common Questions (People Also Ask)

Is ClearOne Advantage a loan company?
No. ClearOne Advantage does not lend money. They provide debt settlement services, where they negotiate with your creditors to accept a lower payoff amount.

Does ClearOne Advantage hurt your credit?
Yes, temporarily. Because the program requires you to stop paying creditors to force a negotiation, your credit score will decline. However, the goal is to resolve the debt so you can rebuild your financial health debt-free.

What are the fees?
ClearOne Advantage does not charge upfront fees. Fees are performance-based, meaning they are typically a percentage of your enrolled debt (industry standard is 15-25%) and are only charged after a debt is successfully settled.

Final Verdict

ClearOne Advantage is a standout choice for consumers who are drowning in debt and cannot qualify for a traditional loan. Their A+ BBB accreditation, no-upfront-fee policy, and transparent client portal make them one of the most reputable options for debt settlement in the U.S.

However, it is crucial to remember: this is not a loan. It is a hardship program designed to reduce your balance at the cost of your credit score. If you are looking to preserve a high credit score, explore consolidation loans first.

• Compare ClearOne vs. Loan Providers in our Full Guide.