PROS / Oak View Law Group charges its fees based on the settled amount of debt, not the total amount.
CONS / This company charges $50 each month in consultation fees.
VERDICT / Oak View Law Group offers similar services as other debt relief companies; however, it charges a $50 monthly consultation fee, which can add up over the years that the debt consolidation process takes.
Oak View Law Group is a law firm that provides debt relief services and is not a debt relief company. While you can expect similar results as you would with a debt relief company, this arrangement has its own set of pros and cons. For example, Oak View Law Group has found a loophole in the FTC regulation that prohibits charging upfront fees. While it claims the $50 is a consultation fee, the amount you pay in consultation fees is subtracted from the consolidation fees you eventually pay. The company states, "Consultancy fees also gets adjusted with the success fees when success fee becomes payable. So this consultancy fees become free." This is seemingly one way to charge upfront fees until Oak View Law Group can legally charge you for its services.
One bonus of using a law group is that if your creditors sue you, it can provide you legal advice. Other consolidation loan companies cannot assist you if you are sued.
To be eligible to work with Oak View, you must have $1,000 in qualifying debts. This is the second lowest of any service on our lineup; most companies require between $7,500 and $10,000 in unsecured debts. Qualifying debts include unsecured loans, lines of credit, credit cards debts and medical bills. Once Oak View successful consolidates part of your debt, it charges a fee of 25 percent of the consolidated amount. After fees, average savings with the company are about 33 percent.
The average timeframe for this bill consolidation company's consolidation loan program is six to 48 months. This timeframe mostly falls within the industry average timeframe, though six months is much shorter than what most other companies claim. However, each situation is unique, and your program length will vary depending on your finances and your ability to put money away for paying your creditors.
Your first consultation to determine eligibility with Oak View Law Group is free. When you do enroll, you are assigned a personal arbitrator who will be your main point of contact throughout your debt consolidation program. You can also manage your account through the online portal. Keep in mind that Oak View Law Group is not accredited by any of the industry standard agencies; although, it is registered with the State of California Bar.
Oak View Law Group provides debt consolidation services, though it isn't solely a debt relief company. It offers average reduction rates and fees, but it charges a $50 per month consultation fee, which no other company on the lineup charges. If you are afraid of being sued and think you will need legal assistance, this company is a good option.