Should i try one of these get out of debt programs?

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Author Topic: Clearview credit  (Read 4261 times)

Offline ibboat

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Clearview credit
« on: September 14, 2009, 02:13:22 PM »
So i have finaly woke up from debt coma(thanks jack).  We said enough and got mad about it 3 months ago.  We have a big chunk of unsecured debt to manage. I know it will take years to whittle down, but i got one of those little cards in the mail today i normaly shred.  Called them up and they offered a plan of a payment about 40% less than what our monthly payment is now for 38 months.  the part i did not like was we have to send a letter to each creditor to cease & desist(???) and not make anymore payments to the creditors for leverage purposes.  they claim to be using new credit laws for this.  i dont understand all of that but to be out from under all that debt in 3 years is very tempting considering i cant even imagine the light at the end right now.  
We got suckered into a plan like this 3 months ago (ABC debt relief :() and we are very leary to try something else.
thanks for any input.

Offline Serellan

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Re: Clearview credit
« Reply #1 on: September 14, 2009, 02:36:21 PM »
In general, most people will say NO.

Is it Clearview Credit, Inc.?

Google is your friend, found this:


The case file cited below relates to a civil -- not a criminal -- investigation. The existence of an investigation does not constitute proof of any violation of law.

Case Number:    L09-3-1118

Subject of investigation:    
Clearview Credit, Inc. f/k/a Debt Reduction America, Inc.

Subject's address:    
5010 W. Carmen Street, 3rd Floor Tampa, FL 33609

Subject's business:    
Debt settlement services

Allegation or issue being investigated:
Unfair and deceptive trade practices in credit and debt counseling services

AG unit handling case:    
Economic Crimes Division in Tampa, Florida

Also, BBB gives them a D-:

Generally, if someone is under investigation by the attorney general, I would not trust them.

Go to a REPUTIBLE financial planner that you pay for, like USAA (or even your local credit union), or use a NONPROFIT debt counselor like CCCS, and CHECK THEM OUT!:


According to the BBB:

Industry Tips

Debt Management Services

Also referred to as "Debt Consolidation," "Debt Negotiation" or "Debt Settlement"

 Companies or organizations offering debt consolidation services do not lend money to help people pay off debts, although some may have arrangements with local banks or loan companies to help set up a debt repayment plan.

 These companies frequently offer to total all the money you owe and try to negotiate with your creditors to pay them what they are owed in manageable monthly installments. They may also offer counseling on good credit and budgeting practices.

 It is essential that a company in this industry does the following:

    * Clearly and completely discloses their financial terms.
    * Clearly and completely discloses their refund policy.
    * Provides a clear and detailed description of exactly what services they will provide to the consumer for their fees.

 It is equally essential that a company in this industry DOES NOT do any of these things:

    * Advise a person to take an action that may negatively impact their credit rating or imply that they should not fulfill a financial obligation.
    * Deny the consumer the right to see any and all correspondence from their creditors.
    * Make promises about the likely success of negotiating an individual's debt to a lower amount.
    * Advise a consumer to mislead their creditors about their financial status.
    * Suggest that they can obtain the removal of accurate, adverse information on your history with credit reporting agencies.

« Last Edit: September 14, 2009, 02:40:14 PM by Serellan »

Offline ibboat

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Re: Clearview credit
« Reply #2 on: September 14, 2009, 10:56:53 PM »
Thanks for the great reply.  I guess we will keep trimming the budget and saving as much as possible to make an offer on the lowest of our bills.  They say they will take half of what we owe in one chunk.  Already paid off a couple of small bills.  It is hard to get prepared and pay off debt though.  cb75

Offline Stein

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Re: Clearview credit
« Reply #3 on: September 15, 2009, 02:55:58 PM »
Don't do it, they are only doing stuff that you can do yourself.  There are no "secrets that credit card companies don't want you to hear."

Pick up a copy of The Total Money Makeover and tune into the radio show at daveramsey.com.  Get the book from the library and the radio is free to listen to.

Offline Pathfinder

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Re: Clearview credit
« Reply #4 on: September 15, 2009, 06:02:28 PM »
Agreed, stay away from the so-called credit counseling services. In general they are not effective - the one I used actually made things worse. Also, it is considerd by credit companies as a "bankruptcy light" on your credit history.

Look into Dave Ramsey and his Total Money Makeover book - probably the best $25 you will ever spend. Also look around and see if anyone - usually a church - is sponsoring his Financial Freedom University program.

Good luck, and congratulations on the first step - it is the hard one.

Offline cartpusher

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Re: Clearview credit
« Reply #5 on: September 16, 2009, 01:18:53 AM »
I would just use the Debt Snowball, and hammer away at it on your own.   One thing that might help is set up on line payment through your bank account and just pay extra anytime you have it during the month.  So if you do your budget each week, and end up with $100 extra dollars, just make a payment right then, instead of saving it up for the monthly payment.  Keeps you from spending it on something else during the month.

Offline ibboat

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Re: Clearview credit
« Reply #6 on: September 17, 2009, 04:52:43 PM »
Thanks everybody. The wife & i sat down and put a pen to paper.
All our debt can be gone except the death grip(mortgage) in 48 months
just 10 more months than clearview promised. Doesnt leave a whole
lot left for preps but we will appricate what we do alot more.  Time
to learn how to be extra frugul. Cb

Offline Imperial Goat

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Re: Clearview credit
« Reply #7 on: October 03, 2009, 07:22:42 AM »
+1,000 on Dave Ramsey's Total Money Makeover, Financial Peace University and the Debt Snowball!!  It is changing our lives. ;D

You need to do a budet to account for evey dollar and tell it in advance where it will be spent.  Until you do that, You'll have no idea how much money you throw away.  You can probably knock that 48 months down considerably.

Offline LvsChant

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Re: Clearview credit
« Reply #8 on: October 03, 2009, 02:44:58 PM »
I am thinking Dave (and Jack) recommend not only frugality, but finding a way to increase your income... even if it is just an extra part-time job for awhile...

Offline LdMorgan

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Re: Clearview credit
« Reply #9 on: October 05, 2009, 01:16:13 AM »
I am thinking Dave (and Jack) recommend not only frugality, but finding a way to increase your income... even if it is just an extra part-time job for awhile...

Lvschant is right.

Do anything that you can do to increase your income, and particularly try to find things that leverage your time.

One example is selling stuff on eBay. You spend a litle time digging up stuff from yardsales, and a little time putting it up on action. Then it's up for a solid week, encouraging people to send you money.  You can do that twenty times in a week, and not use up the whole week doing it. That's the leverage.

A hundred bucks is not a lot of money, until you compare it to zero bucks. Increase your income by a hundred bucks a week, and that's $400.00 a month. It'll really help with the bills.

And the longer you do it, the better.