This company is no longer taking new clients. Therefore, this review will be listed for existing clients only. New clients that call into CareOne Debt Relief are being serviced by Consolidated Credit. If you are a new customer, and you would like to contact them directly, you can reach them at 1 (855) 248-0737.

The Good

CareOne Debt Relief has been in business for over 10 years. They require a lower minimum debt to qualify for their services than most other settlement companies. Since 2015, they have been referring callers to different debt relief companies such as Consolidated Credit. It is worth noting that CareOne will perform an initial consultation to be able to refer to an appropriate company that best suits your needs. The reputation the company carries, along with a money-back guarantee, current clients can remain confident in the company’s ability to provide with the best service possible. Their goal is/was to help customers struggling with unsecured debt issues find relief through their settlement or debt management plan.

Their settlement plan, in particular, is geared toward clients without the funds to make payments to the DMP, and helps them by providing an alternative to bankruptcy. An agreed upon monthly escrow payment is made to a FDIC insured account in order to accumulate enough funds for negotiators to initiate the settlement process. With the DMP, unsecured debt is consolidated into a single monthly payment and sent to creditors monthly. Then, negotiators work to lower interest rates and get late fees waived (or lowered). Each plan is comprised of a credit counseling session to help consumers realize how they got into financial debt in the first place, plans to resolve their debt issues, and a future plan to help them stay out of debt for life once they are settled. Although the company is no longer taking new clients, individuals can still take advantage of their online tools and tips to help sharpen their financial skills.

The Bad

For obvious reasons, our greatest concern is that this company is longer taking new clients, and simply refers new inquiries to different companies. For existing companies, the 30% fee seems quite higher than normal. The industry average is around 25%, with some companies offering as low as 15%. On top of this, CareOne Debt Relief lacks in transparency with their pricing and accreditations with organizations. This company is no longer accepting new clients.

The Bottom Line

This company is no longer accepting new clients, therefore we recommend researching different companies that best suit your financial needs and we suggest some of our Top Settlement Companies.