Who Really Funds Your Debt Settlement Company? Follow the Money
Quick Answer: While reviewing ClearOne Advantage, I discovered that a single private equity firm — Comvest Partners — provides the financing behind two of the largest debt settlement companies in the United States: ClearOne Advantage ($110 million credit facility) and Beyond Finance ($635 million credit facility). Comvest describes them as the #1 and #2 “success-fee-based debt resolution” providers in the country. Beyond Finance also operates Accredited Debt Relief as a separately marketed brand. So consumers may think they’re comparing three independent companies — ClearOne, Beyond Finance, and Accredited Debt Relief — when in reality it’s two companies backed by the same PE firm, with one of them running two brand names.
I was doing research for my review of ClearOne Advantage when two names in their corporate filings caught my eye: Verge Loan Solutions and Comvest Partners. I’d never heard of either one. So I started digging. What I found was a set of financial connections that aren’t obvious from the companies’ websites — and that I think consumers should know about before choosing a debt settlement company.
It Started With a Privacy Policy
When I review a debt relief company, I always read the privacy policy. It’s where companies disclose things they don’t put on the homepage. ClearOne Advantage’s privacy policy contains this line:
From ClearOne Advantage’s Privacy Policy: “Our affiliates include financial companies, such as Verge Loan Solutions“
That raised a question: who is Verge Loan Solutions, and what’s the relationship between a debt settlement company and a lending company? Affiliate data sharing is standard practice and disclosed in the privacy policy — but most consumers don’t read privacy policies, so they’d never know this connection exists.
Verge Loan Solutions: ClearOne’s In-House Lender
Corporate filings in Florida and Maryland tell the story. Verge Loan Solutions, LLC (now renamed Verge Solutions, LLC) is registered at the same address as ClearOne Advantage: 3500 Boston St, Suite 413, Baltimore, MD 21224.
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Its sole member? COA New Holdings, LLC — at the same address. “COA” appears to stand for ClearOne Advantage, given the shared address and corporate relationship.
There’s another company at that address too: OneLoan Direct, LLC, a debt consolidation lending operation. OneLoan Direct’s privacy policy also names Verge Loan Solutions as an affiliate. And OneLoan Direct’s application lives on ClearOne’s own client portal.
So ClearOne Advantage settles your debt — and its affiliated companies lend you money. The same corporate family is on both sides of the transaction.
This isn’t illegal. But it’s something you should know before you enroll.
Then I Found Comvest Partners
The other name that caught my attention was Comvest Partners, a private equity firm based in West Palm Beach, Florida that manages over $9.3 billion in assets. In August 2021, Comvest provided ClearOne Advantage with a $110 million Senior Secured Credit Facility, serving as Administrative Agent and Sole Lender. In February 2024, they announced additional growth capital.
Update (November 2025): Comvest Partners split into two separate firms. Manulife Financial acquired 75% of Comvest Credit Partners for $937.5 million, creating “Manulife | Comvest Credit Partners.” The credit arm — which holds the ClearOne and Beyond Finance credit facilities described below — is now majority-owned by Manulife. Comvest Private Equity became an independent firm. The financial connections documented in this post remain in place under the new ownership structure.
That’s a lot of money behind one debt settlement company. But the real discovery came when I looked at what else Comvest finances.
The Same Firm Funds Two of the Biggest Debt Settlement Companies
Here’s where it gets interesting.
What I found: Comvest Partners provides the financing behind what it describes as the two largest “success-fee-based” debt resolution companies in America — simultaneously.
Beyond Finance has a $635 million senior credit facility from Comvest, upsized seven times since Beyond Finance joined Comvest’s portfolio in 2019. Beyond Finance also operates Accredited Debt Relief — a separate brand name that markets independently, has its own website, and runs its own advertising. But Accredited Debt Relief’s own About Us page states it is “operated as a division of Beyond Finance, LLC.” Same parent company, separate brand.
ClearOne Advantage — which Comvest describes as “the second largest provider of success fee-based debt resolution services in the U.S.” — has an $110+ million credit facility from the same firm, active since 2021.
Why this matters: A consumer searching for debt settlement help will encounter what appear to be three independent companies — ClearOne Advantage, Beyond Finance, and Accredited Debt Relief. In reality, Beyond Finance and Accredited Debt Relief are the same company under different brand names. And all three brands are financed by the same private equity firm. So “shopping around” between these companies isn’t the competitive comparison it appears to be.
Each Company Has an Affiliated Lender
The corporate structure doesn’t stop at settlement. Each company has a lending affiliate:
ClearOne Advantage’s Lending Side
- Verge Loan Solutions (now Verge Solutions) — owned by COA New Holdings
- OneLoan Direct — debt consolidation loans, application hosted on ClearOne’s portal
- Both at the same Baltimore address as ClearOne
Beyond Finance’s Lending Side
- Above Lending — consumer lending for debt consolidation
- Named as an affiliate in Beyond Finance’s privacy policy
- Also in Comvest’s active portfolio with its own credit facility
Beyond Finance’s privacy policy states: “Beyond Finance, LLC is affiliated with Beyond Holdings of NY LLC and Above Lending, Inc. and this privacy policy applies to all programs, products or services offered by the companies.”
So in both cases, the debt settlement company and the consumer lending company are under the same corporate umbrella, financed by the same PE firm.
The Full Comvest Debt Industry Portfolio
Comvest’s connections to the debt settlement industry go beyond just ClearOne and Beyond Finance. Here’s the full picture from their public portfolio:
Active Investments
- ClearOne Advantage — $110M+ credit facility (debt settlement, described by Comvest as #2 in the U.S.)
- Beyond Finance — $635M credit facility (debt settlement, operates Accredited Debt Relief)
- Above Lending — credit facility (consumer lending for debt consolidation)
Previous Investments (No Longer Active)
In private equity, “exited” or “realized” means the firm was previously invested in a company but has since sold its stake or been repaid. These are companies Comvest used to finance — they collected their returns and moved on, but the history tells you where their industry expertise and relationships come from:
- Freedom Financial — a debt settlement company (Comvest was previously a lender)
- JG Wentworth — consumer financial services including debt resolution (Comvest was previously a lender)
- Global Holdings — described as a “leading dedicated account and payment processing provider to the consumer debt settlement industry” (Comvest provided recapitalization financing)
Think about that: One private equity firm has financed what it calls the two largest success-fee-based debt settlement companies, a major consumer lending operation that serves those companies, and previously financed a major competitor (Freedom Financial) and the payment processor that serves the industry. This is an unusual concentration of financial interest in a single consumer services sector.
The Payment Processor’s CFPB History
Global Holdings — which Comvest lists as a previous investment — had a subsidiary called Global Client Solutions. It was a leading payment processor for the debt settlement industry. In 2014, the CFPB took enforcement action against them.
CFPB Enforcement Action (2014): The CFPB found that Global Client Solutions and its principals, Robert Merrick and Michael Hendrix, violated the Telemarketing Sales Rule by processing tens of millions of dollars in illegal advance fees from tens of thousands of consumers on behalf of debt settlement companies. The defendants paid over $7 million — including $6 million in consumer relief and a $1 million civil penalty. The consent order was entered in August 2014. In 2017, the CFPB began mailing refund checks to affected consumers. (Source: CFPB Newsroom)
Important timeline: Comvest’s involvement with Global Holdings began in 2018 — after the CFPB enforcement action and consent order (August 2014) and after consumer refund distribution began (2017). Comvest then provided recapitalization financing in October 2019. So Comvest was not financing Global Holdings during the period of the CFPB violations. (Source: GlobeNewswire press release, quoting Tim Kim: “As an existing lender to the Company since 2018”)
What this does tell you is that the debt settlement payment processing industry — including companies that were fined for processing illegal fees — is part of the same financial ecosystem where Comvest later chose to invest. Global Holdings continues to process payments for the debt settlement industry today.
What This Means for You
Let me be clear about what I’m not saying:
- I’m not saying these companies are scams
- I’m not saying private equity investment is inherently bad
- I’m not saying ClearOne Advantage or Beyond Finance are doing anything illegal
- I’m not saying the services they provide don’t help some people
What I am saying:
- When the same PE firm finances two of the top competitors, consumers comparing them should know they share a common financial backer
- When a settlement company has an affiliated lending arm, there’s a financial interest on both sides — they profit from settling your debt AND from lending you money
- A leading industry payment processor was fined $7 million by the CFPB for processing illegal fees — Comvest invested in the parent company after that enforcement was resolved, but the industry history is worth understanding
- Consumers deserve to know who provides the financing behind these companies before making major financial decisions
Debt is math wrapped in emotion. The math doesn’t care who owns the company — but you should care who profits from your decisions.— Steve Rhode
Steve’s Take
I want people to have all the information so they can make an informed decision that is right for them.— Steve Rhode
I’ve been helping people with debt since 1994. I founded a credit counseling organization and saw from the inside how financial incentives shape the advice consumers receive. When I find that the same money is behind multiple “competing” companies, that’s something I think you should know.
This isn’t a conspiracy. It’s how private equity works. Comvest Partners found a profitable industry and invested heavily across multiple companies in it. That’s rational business strategy. But it means the debt settlement landscape isn’t as competitive as it looks from the outside.
When you’re comparing ClearOne Advantage to Accredited Debt Relief, you’re comparing two brands financed by the same private equity firm — and Accredited Debt Relief isn’t even a separate company. It’s a division of Beyond Finance operating under a different brand name. When those companies then recommend their affiliated lending products, those products come from their own corporate family. This information isn’t on the homepage or in the TV commercials — though there’s no legal requirement for it to be.
You find it in the privacy policies. In the corporate filings. In the press releases on private equity websites. Places most consumers never look.
That’s why I look.
What if you do nothing? For some people, doing nothing about their debt is actually a legitimate strategy. Most unsecured debt has a statute of limitations of 3-7 years depending on your state. After that period, the debt becomes legally uncollectible. If you’re judgment-proof (no assets to seize, no wages to garnish), sometimes the best move is to wait it out. Most settlement companies won’t volunteer this information, because there’s no fee in it for them. Check your state’s statute of limitations here.
Before choosing any debt relief path, understand all your options — including bankruptcy (which is faster, cheaper, and protects retirement), credit counseling, and doing nothing. I built a free tool called Find Your Path that walks you through your situation and shows you every option available to you — not just the ones that make money for someone else. The right choice depends on your situation, not on which company has the biggest advertising budget or the most PE backing.
Key Takeaways
- Comvest Partners provides financing to both ClearOne Advantage ($110M+) and Beyond Finance/Accredited Debt Relief ($635M) — which Comvest describes as the #1 and #2 “success-fee-based” debt settlement companies in the U.S.
- Each company has an affiliated lending arm — ClearOne has Verge Loan Solutions and OneLoan Direct; Beyond Finance has Above Lending
- Comvest previously financed Freedom Financial (debt settlement), JG Wentworth (debt resolution), and Global Holdings (the industry’s payment processor)
- Global Client Solutions — the industry payment processor — was fined $7M by the CFPB for processing illegal advance fees. Comvest began financing Global Holdings (the parent) in 2018, after the enforcement action was resolved
- “Shopping around” between ClearOne and Accredited Debt Relief means comparing two companies backed by the same PE firm
- This information is in public records — privacy policies, corporate filings, and PE firm press releases — not on company homepages or in advertising
Your Decision, Not Mine
Only you can decide if a company is “legit” or a “scam” — those words mean different things to different people, and that judgment is yours to make. Don’t let anyone else make it for you, including me. What I can do is give you the facts and tools to make that decision with confidence.
Before you enroll with any debt relief company, I recommend two steps:
- Do your own research — Use my Ultimate Consumer Guide to Checking Out a Debt Relief Company to investigate any company you’re considering.
- Read before you sign — Ask the company for a copy of the agreement they’ll ask you to sign and run it through the Contract Decoder to understand exactly what you’re agreeing to.
As Sy Syms used to say: “An educated consumer is our best customer.” That’s life advice to live by.
At the end of the day — you do you, boo.
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Sources
Every claim in this post is based on publicly available records. Here are my sources, organized by category:
Free Tool — Contract Decoder: Have a contract from a debt relief company? The free Contract Decoder analyzes it for red flags, hidden fees, and problematic terms — before you sign anything. Decode My Contract →
Comvest Partners / Manulife — Press Releases & Portfolio
- Comvest Partners Completes Majority Sale of Comvest Credit Partners to Manulife (October 2025 — Manulife acquired 75% of Comvest Credit Partners for $937.5M)
- Comvest Announces $110M Investment in ClearOne Advantage (August 2021)
- Comvest Announces New Growth Capital Investment in ClearOne Advantage (February 2024)
- Comvest Upsizes Beyond Finance Investment to $635M (August 2023)
- Comvest Portfolio: Above Lending (archived — Comvest has since restructured their website)
- Comvest Portfolio: Global Holdings (archived — confirms Comvest financed the parent of Global Client Solutions)
- Comvest Announces Recapitalization of Global Holdings (October 2019 — confirms Comvest involvement began in 2018)
Corporate Filings
- Verge Solutions LLC (f/k/a Verge Loan Solutions) — Florida Business Filing
- OneLoan Direct LLC — BBB Profile (Baltimore, MD)
Privacy Policies
- ClearOne Advantage Privacy Policy — names Verge Loan Solutions as affiliate
- OneLoan Direct Privacy Policy — also names Verge Loan Solutions as affiliate
- Beyond Finance Privacy Notice — names Above Lending, Inc. as affiliate
Company Disclosures
- Accredited Debt Relief About Us — states “operated as a division of Beyond Finance, LLC”
- Beyond Finance Blog: Above Lending Partnership
Government Records
- CFPB Takes Action Against Global Client Solutions for Processing Illegal Debt-Settlement Fees
- CFPB Enforcement Action: Global Client Solutions, LLC, Global Holdings LLC, Robert Merrick, and Michael Hendrix
- CFPB Consent Order — Global Client Solutions (PDF)
Related Review
- Is ClearOne Advantage Legit? An Honest Review (2026) — the review that started this investigation
My goal is always to get the facts right. Every claim in this post is sourced and archived. If I got something wrong, I want to know — contact me and I’ll correct it.
Dealing With Debt? Understanding your options is the first step. See how all your debt relief options compare — including ones most sites won’t tell you about. The Find Your Path quiz gives a recommendation based on your actual numbers, and the Scam-O-Meter checks any company’s complaint history before you sign. Federal Reserve research shows bankruptcy filers recover faster than those who don’t file.
