Clear Debt Solution

by Debt Settlement Reviews on June 16, 2008

Clear Debt Solution

Setup Fee: 15%
Monthly Fee: None
Settlement Fee: None

TASC Members: Yes
BBB Complaints: 2

Clear Debt Solution or Clear Debt Solutions, also known as Capsaw, Inc. is a TASC accredited member. They have two offices listed on their website: a central office in Minnesota and a west office in California. They charge the standard 15% of your total debt amount. I was quoted 40-60% settlements by Clear Debt Solution, which seems to go against the TASC guidelines of quoting 50% settlements.

Their BBB ratings looks good. They have 1 complaint for their MN office and their CA office appears to also have 1 complaint, although it does not contain any detailed information about the company.

Clear Debt Solution does charge 10% of their fee upfront, which is broken up into either 2 or 3 larger payments before your real program begins. They then get the other 5% over the next 10 months.

{ 4 comments… read them below or add one }

Steve September 3, 2008 at 5:39 am

They talk a lot of talk, but do not follow up with any type of service. I found that I ended up with more problems by having them. They did not communicate with my creditors, nor did the amount quoted turn out to be the actual cost. They don’t negotiate on your behalf, all they do is tell you what offers have been given to you, if they communicate at all. Not recommended at all.

Keith July 20, 2009 at 4:27 pm

Clear Debt Solutions provided little to no communication to my creditors. My debt almost doubled in that time with penalties and then collection and lawyer (not my lawyer) fees on top of that. I prepaid my entire “suggested” payoff to them and they are holding a portion of this money hostage until I sign a waiver to get MY money back for services they DID NOT provide. My wife and I settled all but 2 accounts, the 2 CDS resolved were they smallest two. I am now trying to resolve the last account while staying out of court. This has been a total SHAM with no evidence that CDS did anything of value for me. Please do not use CDS – resolve the issue yourself it IS CHEAPER!

Jami August 8, 2009 at 2:17 am

This has been the absolute worse nightmare for me. I signed up with CDS a year ago this month. During that time I paid them 1300.00 in fees and they have done absolutley nothing towards helping me settle my debts or provided any sort of service to me at all! All of my balances are now much higher than when I first signed up with CDS and my credit is completely trashed! I called them many times asking what was being done on my behalf, only to be told that they would get a negotiator busy working on my case and call me back on a specific date. They never call back, and when I call them…I am informed each time that no one has been working on my case and that they are sorry. I am now facing my first court apperance, as one of my creditors has filed suit against me. I contacted the company back in May as soon as I received the summons. They never contacted the creditor until this past week and that only got done by me getting upset to the point of having to ask to speak to a supervisor. I was called back the next day by the supervisor only to be informed that the creditor in question will not authorize a third party debt settlement company to work with them. Keep in mind that I was assured when I signed up with CDS that they had worked with all of my creditors in the past and that reaching a settlement with them would be no problem! I have cancelled my program with CDS, and am now waiting for my saved funds to be returned to me so that I can deal with the creditor taking me to court myself hopefully before the court date arrives. This company is a complete and total fraud and scam in my opinion! I have filed complaints with the BBB, Federal Trade Commission and the Attorney General of California…I am also looking into seeking legal action to have the 1300.00 of my money that they charged in fees, that they most certainly did NOT earn, returned to me. I urge anyone looking for financial help to RUN not walk from this company and please, please, please spread the word and help others from making the same dreadful mistake that I have.

Amy April 14, 2011 at 5:58 pm

CDS has settled 7 out of 9 accounts for me, all for about 40% of the debt owed. I have been sued twice (these are the 2 outstanding accounts left), but I answered the complaints and was able to fend off a default judgment. CDS makes it clear up front they do not offer legal advice or representation.

It appears CDS is no more and is not accepting new clients, but a debt settlement company called AT Holdings is handling existing CDS clients. They aren’t as quick to communicate with me as CDS had done in the past, so I’m not 100% happy. Overall, I’ve been pleased with CDS and am happy with what they were able to do for me. I guess some creditors just won’t deal with 3rd party companies period.

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