CareOne Debt Relief, also widely referred to as CareOne Credit, is a debt settlement, debt consolidation, and credit counseling company that has been helping those with credit card debt, medical debt, student loans and other types of unsecured debt since 2002.
The company offers a debt management plan through consolidating your debt and a debt settlement plan by working with your creditors to lower the amount you owe. Through CareOne credit counseling services, customers can expect to discover and implement the best debt relief options with the most minimal effect possible on their credit scores.
CareOne offers a 100 percent satisfaction guarantee. The company is so confident in its service professionals that it offers customers a six-month money back guarantee on all services rendered, no questions asked.
The free consultation is worth mentioning; this enables them to analyze each person's specific debt situation and then point people to the best company. CareOne will take a look at your credit report, your credit history, your current debts, your various creditors, and your financial situation to determine what avenues to take in negotiating with your creditors.
CareOne Debt Relief has an online portal where you can view your program information, participate in discussion forums, and have access to other additional resources. This makes it easier for clients to keep track of their progress with creditors and communicate concerns with the company.
One good thing about referring clients to other companies is that they will refer you to a company that is licensed to operate in your state. The company's debt relief services, including debt consolidation, debt settlement, and credit counseling, are available to all residents of the United States.
CareOne provides a variety of debt relief services including debt consolidation, debt settlement, and credit counseling. Depending on your personal financial situation (income, ability to make payments, credit approval/credit score, etc.), the company may recommend any one of the possible options.
Debt consolidation is the process of taking all of your monthly payments and putting them into one easy monthly payment and is recommended for those who still have enough money to make minimum payments. It is usually safer than debt settlement because it doesn't affect your credit score. Additionally, debt consolidation can usually lower your interest rates (from around 15 percent to around 5 percent).
The company does not hold any of the major industry accreditations, specifically with the AFCC, and the IAPDA. This makes it difficult to know if the company follows best industry practices.
CareOne does not disclose its fees on its corporate website. This lack of transparency can be frustrating for potential customers. Most debt relief companies require a consultation before letting customers know the exact price; this is done in order to ensure the company can even negotiate with your creditors. However, there are some companies that also provide estimates for customers before determining if they can negotiate with your creditors.
It should be noted that most debt management companies will charge a flat fee, but also offer customers the option to make monthly payments for their debt management plan.
CareOne will go through occasional periods when it doesn't accept new clients and thus sometimes just acts as a middleman to refer people to other debt relief companies. It would be quicker and easier for consumers to cut out the middleman and find the best company that directly suits their needs. For this reason, we can't recommend CareOne at this time.
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