ClearPoint Financial Solutions

It has a satisfactory record with the BBB. Complaint history of ClearPoint financial Solutions showed the following complaint history: -

So...is that good? Anyone else wanna ring in on this?

I was skeptical at first but they have been nothing but helpful in assisting my friend pay off his obligations. They negotiated lower interest rates and have done everything they told us they would. No surprises! I would recommend them highly to a friend!~

I have been with Clear Point 7 months and they have been a God send. Really helping me stick to a plan. Ask for Sherry Tetrault. She is awesome!

They are awesome and trustworthy. You need to look in the phonebook and call the consumer credit counseling service or clearpoint financial. They helped me pay off 1000's and it was painless because it came out of my account as ach draft. They did also negotiate and bring interest rates down for me.

They are awesome and trustworthy. You need to look in the phonebook and call the consumer credit counseling service or clearpoint financial. They helped me pay off 1000's and it was painless because it came out of my account as ach draft. They did also negotiate and bring interest rates down for me.

I sent all my financial information to Clearpoint and I was told that they could not help me. I find this to be unacceptable for what they advertise. Their consultant told me that I could not afford their dmp plan. It seems that they did not really "review" the fiancials. They should have atleast referred me to their banko conselor, or what about the "making home affordable" program.

I have had some problems not too long ago that got me where I am today, and I will get out of this financial rut. But there are people out there that do not understand what is available to them, and if Clearpoint actually takes the approach they took with me, then it is totally unacceptable.

I have always heard of Consumer Credit Counceling and how well this type of program works. Finance is becoming more complicated, and credit cards claim plenty of victims. It is not the 80's anymore.

Clearpoints DMP proposal was not very good, I could do a better job myself. Clearpoint's advertising is not all it is cracked up to be; unless I got a lousy rep.

Just an FYI folks, I worked as an analyst for Equifax Risk Management for years, lately I have become a cancer survivor.

I used ClearPoint and it didn't work out.

The interest rate reductions they negotiated were ridiculous. They could only lower Bank of America to 16.9%?!?! Citi went to 9.9%. Discover went to 12.9%.

You can get better interest rates on your own. How do I know? Because I've since done it myself. I've settled with BOA for 20% of my balance, after calling to see if they would offer me individually a lower rate than what I received via ClearPoint. Citi gave me 0% after a bit of back-and-forth negotiating and set me up on a 36 month payment plan to settle my balance. And Discover, the nastiest of the bunch, even went to 6.9%.

On ClearPoint's DMP I was actually paying a bit more each month than I was before enrolling. And that would have been great if I would have paid off the balances in the 48 months they promised. But when I received the creditor confirmation letters, they all stated I was on a 60 month plan. What?!?

Finally, on a personal note, I could NEVER reach my counselor. Ever. When I called to ask why the creditors said I was on a 60 month plan and my ClearPoint paperwork said 48 months, and the balances didn't add up either way, he was not available. Many voicemails and emails later, I was fed up enough to do it myself.

I'm pretty easily intimidated and shy. I had to sit down and really think about the money I was wasting each month on interest payments. It made me so disgusted and angry that I was able to call and negotiate with the creditors myself.

Save yourself the hassle of ClearPoint. You CAN get far better deals on your own. They are locked into interest rate agreements with all the banks and can't go any lower. But you - individually - can do better.

Good luck, everyone.

Wow, I'm sorry to those who have had a negative experience with CCCS. I have had nothing but fantastic service, and in 6 months I'll be totally out of credit card debt. I have been with them for a year now and have never once had a problem reaching my counselor, he often responds to emails within 20 minutes of me sending them. As a matter of fact, I had a freak out moment, and asked that they cancel me. It was done within minutes. About an hour later, I realized I had made a huge mistake, called and asked that I be re-activated, and it was done as quickly as it was undone. I can not say enough about what they have done for me, and appreciate all of their help.

Anyway, good luck to all trying to undo what has been done, I know I couldn't have done it without this service.

What company did you use mamakate?

Ditto that, mamakate! Clearpoint has been SO helpful, so available. They have been the right choice for me, and negotiated much better rates than I had been able to on my own. I highly recommend Clearpoint.

I've had tremendous response from ClearPoint. I had over $80,000 in credit card bills, most of it at 22%. They negotiated to 3% and I have been regular in my payments for 3 years and the end is in sight. Sorry to hear about a couple of negative experiences, but I have no reason to have any complaint.

hey anonymous, how did you figure out how to negotiate with your creditors yourself. what steps did you foloow? did you have guidance from anybody?

I'm gonna give clearpoint a try. they came highly recommended from a counselor from my benefits office at work.

senjh219....i'm glad clearpoint helped you. i'm hopeing they can help me with my 50,000 bucks i owe. did they negotiate a reduced interest rate as well as balance forgiveness?

Thank God I found Clearpoint....3 years ago we wre on the brink of bankruptcy....we about to pay off our last creditor...TODAY!!!! I never stick my neck out and recommend business, but, for CFS I will make an exception. They are awesome!

I had three open heart surgeries in 2003/2004. Was not be able to work or pay my bills so my debt went o about $15,000. Hired the American Debt Foundation (ADF) in Florida. I was faithfully sending my payments and my creditors kept calling me because the ADF was not sending them my money. After a while I terminated the agreement, had to pay ADF a penalty (?!) for the early termination and ended up with $18,000 debt! Heard about the Clearpoint financial solutions and have been making payment ever since. You can see online every month where your money goes and everything is very clear and transparent. This month I made a final payment of $395 and I am out of debt. Clearpoint is a great company and would recommend it to anyone with debt problems. Before you hire any other company check the state law because in some states they cannot do anything against them even though their business in horrible and they push people into even bigger trouble??? and the state attorneys are not going to deal with such 'small' amounts...Actually, I never heard back from the Florida State attorney. WA State attorney did respond with the above mentioned comment about the ???too small??? amount to deal with. Since that BS with the ADF I call them the American foundation of debt rather than the American debt foundation.

I have been with ClearPoint since 2006. I have been very happy with them. ClearPoint has always answered any of my questions. I will be done paying of my debt in June 2010. I highly recommend this company.

If you are looking to settle your debt at around 20-30 cents on the dollar I would reccomend DS Financial. They could be reached at 866-833-6398.

What happens to your credit rating while you are on clear point?

I've been with them for about 3 years and I've been able to pay off almost all of my debt - I started with about $43,000 in credit card debt, and I'm down to less than $10,000 - I'll be paid off by next April. They have been pretty near perfect in paying off the debt - a few problems with one card that wanted a check instead of wired funds, but that was taken care of and now there are no problems. One caveat, they really don't offer "credit counseling" - they just work with you to pay off your existing debt
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How can they be non-profit when my sister was charged $90 for a 20 minute phone "counseling" session.

What happens to your credit rating while you are on clear point? Do FICOs drop while you are with the CCS ??

How does this agency get paid?

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I have been with them for a year, and they have been great. I got the recommendation from a friend of mine, who has been with them for the past 4 years, and he spoke very highley of them.

In addition to your monthly payment, they add a low additional charge. I had over 10k in debt, and I think my monthly charge was $30.00. Not bad considering the interest you get on a cc.

Approximately 5 years ago I engaged Clearpoint to help me reduce my credit card debt. The Company was recognized as a reputable Financial Solution and Management business and was actually recommended by one of our banks.
Clearpoint stated that they contacted all of our creditors and came up with a payment plan. They sent a monthly statement showing the payment made and the balance on each account. After almost 5 years of making monthly payments the entire debt had been paid down to approximately 3000 dollars according to the statements sent by Clearpoint. We then recieved a statement from Citibank stating that the balance on that account was over $10,000. (@29%)Clearpoint's statements indicated that the balance was less than $700.00. Despite several calls to Clearpoint we have not recieved any answer why this discrepancy has occured. We had not recieved any monthly or otherwise statements from Citibank until 60 days ago. We have called Clearpoint about this matter several times but get the runaround and a promise to "get back with us" but never do. We are looking into any legal avenues available to us. I am retired and disabled, so my legal options are probably limited.
I will say that Clearpoint has handled our other accounts well and that they are almost paid off. (We think)
John Burke

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would need my payment about $150.00 a month and only have a savings account would it be a problem.?

This company is GREAT! To address some earlier people...if you have a bill not getting paid, you did not give them that info when you started the program. My score has improved over 100 points in the program. The program doesn't affect your score. It affects your ability to get approved for credit, which you don't need anyway if you are in the program. They denied you because you couldn't afford the monthly payments. Why would they put you in a program if they knew you would fail. If you got denied you need to look into another job or a more serious program. :-) Great people, great service. I highly recommend this company.

Ditto on being thankful for finding Clearpoint. I was at $24k in credit card debt. It took 4 years to get out of it, thanks to Clearpoint. They are awesome, trustworthy, and so helpful. They were able to negotiate the APR rate for all six of my cards to be at 6% or less. If you are drowning in debt they will truly save your life

So all of you know, I am a financial specialist with ClearPoint Financial Solutions. There is NO charge for regular credit counseling UNLESS joining our Debt Management Plan. If it is in your best interest to join the DMP (which we will decide during our free counseling session), there is a nominal monthly fee (depends on your state but NEVER exceeds $35/month). There are no hidden fees what-so-ever, and all debt is paid off in 60 months OR LESS. ~~We draft one payment monthly from your checking account, and then dispurse that money to your creditors. Your creditors will Lower interest rates, waive late fees & overlimit fees, and even lower your monthly payment at times. We do NOT report to the credit bureaus (sometimes a creditor may show ...'on debt management plan'...while paying off your debt, but it will NOT directly affect your score). We are non-profit, hold an A+ rating with the BBB nationwide, and are all certified through the National Foundation of Credit Councing (NFCC). We are also hud approved to help counsel people having difficulties paying on their mortgages. If someone is told "they can't afford the DMP" it's likely due to the fact that their budget didn't allow for any extra spending. Every situation is different, and we offer free counseling all-around. Whether you want budgeting counseling (make a very thorough budget), Housing Counseling, Pre-Purchase Counseling, etc...check us out online at ClearPointCCS.org (yes, we are a dot org, because we are non-profit). Thank you and I hope to serve you someday in the future. Nick, Financial Specialist with ClearPoint Financial Solutions.

We've been satisfied with Clearpoint, but you can make the situation better still. Our experience was that some creditors would give us lower rates for hardship plans than they will give us through Clearpoint (or, I'm guessing, any nonprofit credit counseling agency). And some would give the lowest rate through Clearpoint instead of to us directly. So I called each creditor, made our pitch for a hardship case, got their rate, and then went to Clearpoint to determine which should be on the debt-management plan and which should be direct monthly payments from our checking account to the creditor. The result: a long, hard slog these last couple of years (with a couple more to go), but the best rates available on each account. The counselor at Clearpoint was fine with this half-and-half approach, since it was going to pay the debts at the lowest interest rates.

Although this is a year since the last post I want to add my positive experience with this company. After initially being assigned a counselor who unexpectedly left the company, the new one was very helpful. He answered a long list of questions the BBB recommended one ask and generally responded to emails within 24-48 business hours. I enrolled with them in 2007 and will make my last payment in March 2011. I would have been done sooner except after a couple of debts were paid off I had to reduce what I paid by those amounts instead of rolling it over.

Well it sounds like, here again, you are having overall positive feedback about our Debt Management Program. Congrats on completing your DMP. It takes a lot of discipline! You are accomplishing your goals, keep it up! :) In most situations, we (ClearPoint) are at the will of the creditors. The DMP is; however, a wonderful program, and is designed to payoff all debts in 60 months or less, with only a monthly fee being charged ($35/month max...depends on state and amount of debt).

[COLOR=black]I am currently a client and have been since October of 2009. Yes the organizations is non-profit and have been pleasantly pleased with their services so far. There is a client fee involved; month to month we currently are paying $35 added into our monthly payment to lower our credit debt, really never noticed the fee until looking at past statements. The company did contact all creditors to lower rates, this helped tremendously. Our goal with the company was to be projected paying all credit off in 31/2 to 4 years. So far we have reached our half way point. Overall I would recommend this organization to someone in need of debt management. [/COLOR][COLOR=black][FONT=Arial][/FONT][/COLOR]

It is always nice to hear from clients about their past and present experiences. Keep up the great work with your DMP. Hopefully, after reading some of these posts, others will realize how a DMP truly can help in certain situations. ClearPoint holds an A+ rating nationwide with the BBB. I love working with my clients, and enjoy seeing them become debt free!

I am most likely going to start a DMP with Clearpoint and have a question. In my emails it says the program will start once they receive paperwork and first payment. If my bills are due at different times, will that payment make my bills late? And if i send first payment on, lets say the 17th of the month, am i still making payments that month that are due before the 17th?
thanks!

You have asked some great questions!

When joining the DMP, it is recommended that you contact your creditors and change your due dates to 5 days AFTER your disbursement date. If your due date is the 17th of each month, we will disburse those funds on the 25th, so change your due dates to the 30th of each month. This just makes the program run much more smoothly. That being said, while on the DMP there are no late fees with your creditors once they accept our proposals. If you are choosing to do ACH draft for the program, and you choose May 17th for your first draft, and you have payments due now, I would recommend that you continue to make your payments as normal. It could take up to a month or so for all creditors to accept our proposals for the program. Because of this, for the first month or so, we will still make your payments, however; until proposals are accepted, you would receive a later fee if you didn't pay the difference. Again, once your creditors have accepted the proposal (within month typically), there will be no late fees or over limit fees, and your interest would be reduced. You should be just fine. I would pay the bills if they are due for May now, and begin the DMP in June. This way they likely will have accepted our proposals by then, and your concessions would have begun as well (lower interest/waived fees).

The DMP is excellent, and with discipline, can help peoples' lives dramatically.

Hope this helps.

what does the fact that you worked at Equifax and are a cancer survivor have to do with anything?

If you felt the "making homes affordable program" would help you then why didn't you ask the counselor to go over this with you. I'm certain they wouldn't have said no.

And, yes it may very well have been the case the "DMP" plan wasn't a good fit for you. It isn't for everyone and what I mean by that is the payments they can get the creditors to come down to aren't always a whole lot. The program is a good fit for someone who is just barely/barely not getting by. It isn't any kind of miracle program but that is because it is actually a legit deal. There is no scam here.

When going through a credit counseling sesson, it is a requirement to look into alternate possible avenues that would help save our client money; i.e. home modification, etc. It is our goal to help assist in every way possible.

With regards to the DMP, it most certainly is NOT a good fit for everyone. We are not a DMP company, but instead, a credit counseling organization. We start with a monthly budget, analyze your credit report (soft pull & will not affect your score negatively), then see what the best options may be for each client. If a client decides he/she would like to try the DMP, even though their income isn't "there" for it, we certainly do NOT keep them from doing so. We all need to be in charge of our money, and responsible for OUR actions. However, that is not to say that we would not recommend the DMP if it shows to be obviously unaffordable. We leave this up to you ultimately. There is NO MAGIC WAND for fixing dext. The way to succeed on a DMP is to be able to afford the payments (DMP will reduce interest some payment amounts, and stop late/over limit fees), and pay each month on time, for the entire duration of the program. All debt on the DMP is paid within 5 years or 60 months (depending on your total amount of debt). It could be as soon as one year...again, depends on your total debt amount. There is no minimum amount of debt for the DMP (so long as your monthly payment for the program is $100 or more/month).

For the right situation, a DMP can help a person tremendously. if the DMP is not for you, we (financial specialists) will go through all the best options for you. We are very knowledgable and have a lot of experience in finance, and can help guide you on the right path.

Just to correct the sentance "However, that is not to say that we would not recommend the DMP if it shows to be obviously unaffordable"...

We will NOT usually recommend a DMP if it's not affordible for the client. Again, we leave it up to the client to ultimately decide on joining or not, but we also go over other options that may help thiem in their situation.

I am an active client with Clearpoint Fin. now, and I was behind on monthly payments. HSBC said I owed them either $532 min monthly payment in 60-days or the whole bal. due. Signed up with Clearpoint and HSBC said your account is now current, you owe $95. They helped me close one card already, and I am paying on two more. Do I pay CPFS any money? Of course there is a small charge each month, but thx to them the CC companies have backed off and are accepting the monthly payments. Plus, CPFS has been on KTLA 5 News and they stand behind this company. Thats a plus in my book. They told me right up front, you're gonna pay each card each month, no foolin around here.

3 years ago I was being swallowed monthly by debt from the past (exes, friends without homes, etc) and it was growing out of control. I needed some help and a family member suggest Consumer Credit Counseling. I called them twice and they never returned my calls. I remembered hearing that Consumer Credit has the restriction that if they worked with you, you were not allowed to open any more debt or you would be terminated from the contact. Knowing my car was failing, I wanted to have the freedom to get a loan for another car if need be. I did some research and found that Clear Point was the highest rating with the fewest complaints and allowed me some flexibility.

Yes, I had previously been able to negotiate a lower interest rate working direct with my credit card companies prior to Clear Point. Yet the each card/loan still wanted me to pay a larger monthly amount than I could afford. Clear Point helped them negotiate a smaller monthly amount and worked with the companies that had already charged off (AKA sold my debt to someone else), and the ones that were in collections.

Each month I get a statement from the credit card/loan that says, "Thank you for your payment of $$$" and then I get a statement from Clear Point telling me what they paid. So, far the only negative thing I have seen is that having to close my accounts to join has caused a tarnish on my credit BUT that is nothing compared to what it looked like when I was paying late or not at all.

I have been on this plan for three years and in December of next year I will be completely debt free. Not only have I learned a valuable lesson, but also know how to discipline myself to save the same amount each month by continuing my budget. Good job to everyone who found Clear Point and good luck to everyone just starting a debt program!