ClearPoint Credit Counseling Solutions

ClearPoint Credit Counseling Solutions Reviews

Atlanta, GA

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About ClearPoint Credit Counseling Solutions

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Headquartered in Texas, Clearpoint Credit Counseling is a division of Money Management International (MMI). It is a nonprofit organization that specializes in financial education and counseling services for individuals and families nationwide. Services are available online, over the phone or in person in over 20 states. Spanish support is available at its locations in Miami, Florida, and Norcross, Georgia.

Pros & Cons

Pros
  • Free counseling and consultation
  • Fees reduced or waived for some clients
  • Services in Spanish
Cons
  • Not all services in every state
  • Not all debt is eligible

What is Clearpoint Credit Counseling?

Clearpoint Credit Counseling is accredited by the Council on Accreditation (COA) and offers several counseling services for free. Along with a debt management plan (DMP), student loan counseling and housing counseling, Clearpoint offers free educational resources, such as ebooks, podcasts and interactive tools to help clients improve their financial literacy and skills.

One advantage Clearpoint has over its competitors is that it offers a specialized financial program for military members designed to support them when they return home from service.

How does Clearpoint Credit Counseling work?

For those struggling with their monthly budget, starting with Clearpoint’s free credit counseling session can help. You meet with a financial counselor and discuss your income, expenses, debts and goals. From there, the counselor will be able to give you actionable next steps or recommend you to another program.

You might also benefit from enrolling in a DMP, which is a low-cost program that helps you consolidate your unsecured debt into one easy-to-manage monthly payment. A counselor works with you to help you become debt free while still remaining in good standing with your creditors.

Clearpoint Credit Counseling products and services

Clearpoint Credit Counseling offers a range of financial education and counseling services. Its main services include:

Credit counseling
Clearpoint Credit Counseling offers one-on-one counseling sessions to help clients understand their credit reports and scores, identify areas for improvement and develop strategies to improve their credit.
Debt management
For clients who are struggling with debt, it offers DMPs, which is a program that consolidates a client’s unsecured debt.
Housing counseling
As an agency certified by the U.S. Department of Housing and Urban Development (HUD), Clearpoint provides homebuying programs for new buyers, as well as counseling for homeowners pursuing a reverse mortgage or foreclosure.
Bankruptcy counseling
For clients who are considering filing for bankruptcy, Clearpoint Credit Counseling offers pre- and post-bankruptcy counseling and education services to help them understand the process.
Student loan counseling
With student loan counseling, Clearpoint will start by looking at your complete financial picture. From there, it will help you figure out the best strategies for your student loan debt, including consolidation or loan forgiveness programs.

How much does Clearpoint Credit Counseling cost?

Clearpoint Credit Counseling offers free budget and debt counseling, as well as free foreclosure prevention counseling. While it does list fees for its other services, these fees can be reduced or waived for individuals who are struggling financially.

Fees are as follows:

  • DMP: Set by your state but $50 is the maximum
  • Student loan counseling: $99
  • Pre-purchase counseling: $149
  • Reverse mortgage counseling: $199
  • Bankruptcy counseling: $50 per household, per session
  • Online homebuyer workshop: $35 per person

Clearpoint Credit Counseling FAQ

What do I have to do when enrolled in a DMP?

Even though a counselor will provide you with financial advice and set up your repayment plan, you will still be required to make on-time monthly payments. You will also not be permitted to open any new credit cards at this time.

Will working with Clearpoint Credit Counseling affect my credit?

If you choose credit counseling only, it does not appear on your credit report or affect your credit score. Using its DMP could affect your credit in the short term but usually results in improved credit in the long term.

Can I get a new car loan or refinance my house on DMP?

Since DMPs focus on unsecured debt, such as credit cards and medical bills, you will still be able to get a new car or mortgage loan. However, it is important to note that your credit score may have dropped in the first few months of a DMP.

How long does Clearpoint’s debt management plan take?

The company says that most of its clients take about three and a half years to pay off all of their enrolled debt. The maximum time you can be in the program is five years.

Is Clearpoint Credit Counseling legit?

Clearpoint Credit Counseling is a legitimate company that has been in business since 1964. It is transparent about its pricing and how it is funded, which is mostly through grants and creditor donations.

ClearPoint Credit Counseling Solutions Reviews

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    How do I know I can trust these reviews about ClearPoint Credit Counseling Solutions?
    • 4,476,427 reviews on ConsumerAffairs are verified.
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10

    Reviewed Nov. 15, 2009

    They were supposed to contact the bank and address my concerns with the mortgage. After much discussion and exchange of e-mails and letters, Ms. Talbot did make a call to the bank with me on the line. We got nowhere and she went on vacation and left someone to care of my file and I was ignored on no less than 4 different time. Mr. Walter Dees, an 'expert' and supervisor contacted me and after much discussion with my questions, he agreed that he was to blame for not following through and promised me that he would call me in 24 hrs. to discuss my letters and declaration of income and expense I had submitted and to call the bank and try to adress the issue of my default. He failed to call me and I have not heard from him or anyone in their office.
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    ClearPoint Credit Counseling Solutions Company Information

    Company Name:
    ClearPoint Credit Counseling Solutions
    Year Founded:
    1964
    Address:
    270 Peachtree Street NW
    City:
    Atlanta
    State/Province:
    GA
    Postal Code:
    30303
    Country:
    United States
    Website:
    www.clearpoint.org