State Disclosures

How debt settlement is regulated

Debt settlement is regulated by the Federal Trade Commission's Telemarketing Sales Rule and by state laws, which differ quite a bit from one state to the next. Some states require a license, some cap fees, and some don't allow for-profit debt settlement at all.

Our services aren't available in every state. Before you enroll, we'll confirm whether we can work with you where you live and give you any disclosures your state requires in writing.

When we can charge you

Federal law bans upfront fees for debt settlement. We can only charge a fee on a debt after all three of these have happened:

• We've reached a settlement with that creditor
• You've approved the settlement
• You've made at least one payment to the creditor under it

Our fee for each settled debt is a set percentage, and you'll see it in writing before you enroll.

Your dedicated account

During the program, you set money aside each month in a dedicated account. Under federal rules:

• The account is at an FDIC-insured bank
• The money in it is yours, including any interest
• The company that runs the account is not owned by or affiliated with Oak View Debt Relief
• You can withdraw from the account or close it at any time, with no penalty, and get your money within seven business days

What to know before you enroll

Debt settlement works for a lot of people, but it has real downsides. We'd rather you hear them from us now than discover them halfway through.

• Your credit score will probably drop, because you'll stop paying creditors directly while you save.
• Creditors may keep calling you, add late fees and interest, or take you to court while you're in the program.
• Not every creditor will agree to settle.
• If a creditor forgives more than $600, they may report it to the IRS, and it can count as taxable income. Some people qualify for an exception, such as insolvency. Ask a tax professional.
• If you leave the program early, debts that haven't settled may be larger than when you started.

There are other options too. Nonprofit credit counseling and a debt management plan can work if you can afford your debts at a lower interest rate. Bankruptcy is sometimes the better answer, and a bankruptcy attorney can tell you whether it is. We'll tell you if we think one of these fits you better.

If you have a complaint

Please tell us first. Email complaints@oakviewdebtrelief.com or call (844) 588-6837. A manager will review it, not the person you're complaining about.

You can also go directly to a government agency at any time. You don't need to contact us first.

• Consumer Financial Protection Bureau: consumerfinance.gov/complaint or (855) 411-2372
• Federal Trade Commission: ReportFraud.ftc.gov
• Your state attorney general's consumer protection office
• California residents can also contact the Department of Financial Protection and Innovation at dfpi.ca.gov

Your state

Want to know if we work in your state, or see our license details there? Call (844) 588-6837 Mon–Fri, 8am–7pm, or email contact@oakviewdebtrelief.com. We'll answer before you share anything about your debts.