When you receive a direct mail offer from Clear Coast Debt Relief company offering a low-interest rate, you first ask yourself: Is this offer for real? Can it be true that it is too good to be true?
- BBB A+ Rating
- Minimum Debt $10,000
- No Minimum Credit Score
- $3 billion+ debt resolved
- BBB A+ Rating
- Minimum Debt $7,500
- No Minimum Credit Score
- $500 million debt resolved
Summary
The Clear Coast Debt Relief Company offers consumers a range of debt relief services, including debt consolidation and non-bankruptcy solutions like debt settlement and negotiation. On their website, clearcoastdebt.com, they advertise their services and send out “prescreen credit offers” through direct mail. ALAS Services, Inc. is a dba of Clear Coast Financial Group, a Florida limited liability company subsidiary of ALAS Services, Inc.
There do not appear to be any lending licenses associated with Clear Coast Debt Relief.
Clear Coast Debt Relief Key Facts
Recently, you may have received a mail offer from Clear Coast Debt Relief that might interest you. It may have said something along the lines of:
AFFECTED FAMILIES GET FINANCIAL RELIEF
We have selected you for an exclusive Hardship Recovery Loan of up to $25,141 from Clear Coast Financial. With a 4.99% interest rate, you can consolidate these balances into a single loan.
At first glance, it seems like a great deal.
To find out more about this company, we did some digging.
- Clear Coast offers debt settlement services to assist consumers with their debt settlement needs.
- They do not guarantee that your debts will be resolved within a particular time or for a specific amount.
- There may be differences in fees from state to state, and their service is not available in all states.
- In addition to negatively impacting your creditworthiness, their debt settlement services may result in collection actions or lawsuits from creditors, leading to you owing more due to fees and interest accrual.
Clear Coast Debt Relief: What is It?
As part of the Clear Coast Debt Relief program, customers are offered several programs designed to assist them in managing their debts. Since 2018, Clear Coast Debt has been in business at 1070 East Indiantown Road, Suite #406, Jupiter, FL 33477, and can be reached at (866) 837-0095 or [email protected]. The company is a member of the American Fair Council.
Their website, which advertises their experience as negotiators, focuses more on debt settlement and reduction than on direct mail.
The Better Business Bureau (BBB) has not accredited them, but they have an impressive A+ rating, with four out of five stars in customer reviews. There are only eight customer reviews and no complaints.
How Does This Company Work?
Regardless of how you found Clear Coast Debt Relief, their free consultation requires your personal and financial information to provide you with debt relief options.
The company will open a separate bank account in your name after you stop paying your debts. The money is then deposited into the account every month. Settlement companies negotiate with creditors on your behalf once they have determined sufficient cash in the account to make a lump-sum offer.
It is important to remember that Clear Coast does not guarantee that your debts will be settled for a certain amount or percentage in a specific period.
See If You Qualify for Credit Card Relief
See how much you can save every month — plus get an estimate of time savings and total savings — with your very own personalized plan.
What Types Of Debt Does It Help You Settle?
The debt settlement process is not the same as bankruptcy or debt consolidation. A primary objective of the program is to resolve unsecured debts, which do not require collateral as security. Clear Coast Debt Relief can handle the following types of debt:
- Credit card debt
- Personal loans
- Credit lines
- Medical bills
- Collections
- Defaults and repossessions
- Business debts
- Debts owed by students
How Does Clear Coast Debt Relief Affect Your Credit?
If you use debt settlement services, you may be sued by creditors or contacted by collectors. As a result of the accrual of fees and interest, your outstanding balances for your enrolled accounts may also increase.
If you want to settle your debt successfully, you must have the funds available to pay the agreed-upon amount. You may be able to consolidate your debt through a loan if you do not have the required funds for negotiations.
How Much Do They Charge?
Clear Coast Debt Relief does not explicitly disclose how much they charge for its services on its website or direct mail.
Customers must provide an estimate of their total unsecured debt, their full name, contact information, and their unique prescreening code for free consultations.
Additionally, they advertise that they do not charge upfront fees and work for free until their clients see results. States may charge different prices for their services.
Settling your debt with Clear Coast Debt Relief, Does It Affect Your Taxes?
There are different laws regarding debt resolution in different states. Please speak with a tax professional to learn more about the tax implications of resolving your debt for less than the balance due.
Clear Coast Debt Relief Reviews
In addition to its A+ rating, Clear Coast Debt Relief is not accredited by the Better Business Bureau. Our investigation into their account revealed only eight customer reviews, with an average rating of 4 stars out of 5.
Here are some reviews:
Mr. D. 07/23/2021
Joshua L 07/28/2021
Billy C 05/08/2021
Melissa H 05/26/2021
Is Clear Coast Debt Relief Legit?
Because we are approaching the question of whether or not Clear Coast Debt Relief is a scam, it’s easy to see that clearcoastdebt.com is a legitimate debt relief company.
Despite not being accredited by the Better Business Bureau, they have received 4 out of 5 stars from customers. There are signs that this company may be able to provide you with a good working experience.
It is essential to know that Clear Coast Debt Relief is not a bank, savings, loans, thrift, payday, or mortgage company. With the help of the company, consumers can resolve their debt issues.
To find a good debt relief company, it is best to research and read many reviews from previous customers. As a result, you will be able to ensure that you are getting the best deal possible by doing this.
