Based in Philadelphia, Clarifi is a nonprofit community resource that started in 1966. The company was originally called the Consumer Credit Counseling Service of Delaware Valley, but then grew into Clarifi. Clarifi aims to help people struggling with debt and strives to make a complex and confusing situation simple.
The company works to create customized action plan including: debt management plans, financial counseling, budgeting help, and more. The company offers a consolidation program through its debt management plan. Customers can enjoy a vast amount of financial education resources, and Clarifi is upfront about fees. The company is limited in locations, and only serves Pennsylvania, New Jersey, and Delaware.
The debt management plan is designed for people having trouble paying bills, or are at their credit limits. With this program, certified counselors will negotiate with creditors to lower monthly payments, stop fees and interest, and eliminate collection calls. The plan works to get customers completely out of debt in five years.
Customers will also go through a counseling session with this plan. The session will help review budget options based on one's financial circumstances. Counseling sessions are one-on-one, and can be done by phone, in person, or online. The debt management plans make it so customers only pay one convenient monthly payment, and there are no large fees for services.
The company is well-accredited. Clarifi is NFCC-, and COA-accredited.
Many companies are not upfront about the costs of their services-Clarifi is very transparent. The company has a whole page dedicated to fees and explains monthly, enrollment, and cancellation fees. Its cancellation policy, and frequently asked questions are also clearly explained. Clarifi outlines all fees not just for their debt management plan, but also for all of their services.
The company has been in the industry ever since 1966. This is longer than most companies in the industry.
The company is NFCC accredited and provides multiple helpful resources. People can learn more about debt relief through public workshops that cover basic financial principles, community workshops, in-office workshops, and targeted programs for specific groups. Consumers can even download a Financial Smarts Brochure. The website also offers educational online resources.
Customers will find that Clarifi's pricing structure is very forgiving of those with debt from few creditors. But, exactly how much does Clarifi cost to use? Clarifi charges $10 per month for every account managed. For example, if a customer wants to pay off the debt of 3 creditors, the price will be $30 per month. The company also charges a one-time fee of $50 when you sign up.
Clarifi does not offer a specific consolidation program. So, people looking for a strongly built debt consolidation program may want to look elsewhere. Clarifi's debt management plan does help customers achieve one convenient monthly payment, but there are differences from the plan and a consolidation program. Clarifi partners with CreditShop to provide loans, and people can use one of these personal loans to help with debt consolidation. However, interest rates depend on credit, and range from 18-36%, and come with a loan processing fee from $25 to $100. Loans only range from $500 to $3,000.
The company is very transparent with locations. Clarifi is available in Pennsylvania, New Jersey, and Delaware, in the following counties:
People in other states seem to be out of luck when it comes to Clarifi's debt management plan. However, customers out of state can still enjoy some of the online educational resources.
People who choose to cancel an appointment or would like a refund will be charged a $10 administrative fee. This fee is removed from the refund.
While Clarifi does hold an NFCC accreditation, the company lacks credentials from two of the top consolidation accreditation organizations, ISO, and FCAA.