Consumer complaint received 2021-08-29 00:00:00
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit repair services
Issue: Excessive fees — 
Company: ClearOne Advantage, LLC
State: FL

Complaint narrative:
Greetings, I have enrolled in a credit card debt consolidation program in XX/XX/2020 and the debt relief firm misled me completely by making me believe that I would save at least $ XXXX. It has never materialized because their estimates were completely off and this resulted in their fees being much higher than anticipated. 

While I was informed about their settlement fees, 40 % of the amount settled, they are not based on their so-called estimates made at the moment of enrollment, and there lies the dishonesty on their end. 

As a result, all settlements with credit card firms made so far have been close to the amount I initially owed and barely enough to pay the settlement fees. I am not saving any money but they get away with fee amounts that are nearly double of what I was told when enrolling. 

All that mattered to them if that I signed the contract. I later realized that their fees are calculated on the amount after 6 months of delinquency ( or more ), which they fail to tell me on purpose. 

To give you an example, I still have 2 big creditors, one of which I owe roughly {$3500.00} and the other {$5000.00}. Their estimates prior settlement are respectively XXXX and XXXX and settlement fees estimated at {$900.00} and {$1200.00} ... but the time of delinquency has raised the balances owned by much and their fees will be based on that very final amount instead of the settlement amount they obtained. Not only their {$1500.00} and {$2000.00} estimates will never come true and most likely reach between XXXX and XXXX respectively instead, based on their previous settlements with other creditors of mine. 

I had closed to {$20000.00} in credit card debts when I contacted them via the XXXX XXXX XXXX website and when all this is over in 3 years, I will have saved around XXXX dollars instead of the anticipated XXXX XXXX. I honestly hoped to find debt relief and now I am even worried that it is going to take longer to pay it all back. 

I wished I had known about filing a complaint months ago. 

I emailed them about it twice and they don't bother to reply because they know that they are deceptive. I have printed the sheet from my online account. And that means that the few XXXX dollars that they claimed that I would save are used to finance much higher settlement fees. 

This is a deception - no doubt! 

I made a search and many accredited firms seem to do this, many clients are complaining. Consumers deserve regulations that protect them. I should have filed for bankruptcy as the debt relief industry itself is very questionable. Such a practice is absolutely predatory, and if there is a way to join a class action ( or any law firm that works for free or by the commission ), I'd love to hear about the latter asap. I hope my name will be added to the long list of similar complaints. This matter is urgent in our very uncertain economic environment. 

Regards and looking forward to your email

Company response to consumer: Closed with explanation