PROS / Instead of charging a flat fee based on your total debt, the fee is a portion of your settled amount, so saving you money is in everyone's best interest.
CONS / You pay $50 monthly for consultancy fees until you start paying normal, performance-based fees.
VERDICT / While you may get similar results with this service as you would with others on our lineup, its monthly consultancy fee may be more than most people can afford to pay upfront as the debt settlement program may take years.
As a law firm, Oak View Law Group is not a debt settlement company; instead, it offers debt negotiation with similar results and features. You must have at least $10,000 of eligible debt, which includes unsecured loans and lines of credit, credit cards, and medical bills, among other debt. Once the service settles portions of your debt, it assesses a fee of 25% of the amount it saved you, and on average, you benefit from a 33% reduction of your debt after fees. It also charges a $50 monthly consultancy fee for its services, which is something most debt settlement services do not charge and a fee of which you should be aware.
While this monthly charge is not considered an advance settlement fee – which is illegal – it still means that you pay upfront. It charges this fee until you start paying settlement fees, and it states, "Consultancy fees also gets adjusted with the success fees when success fee becomes payable. So this consultancy fees becomes free," but you must pay this fee up front until that point.
The average period for debt settlement programs ranges from six to 48 months. As mentioned above, you must have at least $1,000 in eligible debt. This service may work with debt even lower than that, but customer service states that the minimum is $1,000.
Oak View Law Group offers free consultations to determine your eligibility, and your account receives a personal arbitrator and customer service manager for the duration of your settlement program. The company has a professional debt arbitrator who is certified with the IAPDA. Although the service itself does not have any national or international debt settlement accreditations, it is registered with the State Bar of California.
Oak View Law Group offers many debt relief options, including its debt settlement programs. While it offers standard reductions and charges a normal percentage of your settled debt, you pay $50 a month for consultancy fees for the services until it starts settling your debt, which is a fee most services do not charge. For that main reason, this service may not work with your financial situation.