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ClearPoint Financial Solutions



damil1234

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Sub: ClearPoint Financial Solutions
Thu, 20/09/2012 21:38

Anyone have any experience with them? They seem to be on the up and up and they're non-profit.



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Sub: #1 It works and you are doing right to educate yourselfThu, 09/20/2012 - 21:38



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!


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Sub: #2 Helped me a lotTue, 07/05/2011 - 20:55



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.


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Sub: #3 CP Financial SpecialistTue, 05/24/2011 - 16:50



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.


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Sub: #4 CP Financial SpecialistTue, 05/24/2011 - 14:49



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.


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Sub: #5 what does the fact that you worked at Equifax and are a cancer sMon, 05/09/2011 - 11:49



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.


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Sub: #6 You have asked some great questions! When joining the DMP, it Thu, 04/28/2011 - 15:20



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.


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Sub: #7 I am most likely going to start a DMP with Clearpoint and have aWed, 04/27/2011 - 19:20



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!


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Sub: #8 It is always nice to hear from clients about their past and presWed, 03/16/2011 - 16:35



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!


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Sub: #9 [COLOR=black]I am currently a client and have been since OctoberMon, 03/14/2011 - 18:22



[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]


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Sub: #10 Well it sounds like, here again, you are having overall positiveWed, 01/26/2011 - 20:59



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).


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