Freedom debt reviews offer people a way out of financial difficulties. The company assists its clients in negotiating and settling unsecured debt such as credit card bills, department store purchases, personal loans and medical bills as well as helping resolve charge offs on their credit reports.
After enrolling in Freedom Debt’s program, customers deposit funds into a dedicated account. From there, Freedom Debt negotiates directly with individual creditors in an attempt to persuade them to accept reduced repayment obligations.
Cost
Freedom Debt Relief can assist people in becoming debt free by negotiating with creditors to reduce what they owe, usually for less than bankruptcy – which typically costs at least $2,000 and could ruin your credit for seven years. Unfortunately, they do not help consumers with secured debt such as mortgages and auto loans.
Freedom Debt Relief’s process begins with a free debt evaluation, in which one of their representatives will assess your situation and create a debt relief plan tailored specifically to you. Next, money will be deposited into a dedicated account that Freedom Debt Relief uses to negotiate settlement offers from creditors; once an offer has been approved by you and accepted by each one separately, monthly payments from that account will then be made towards paying off your debts.
Freedom Debt Relief reports that their program typically takes two to four years on average to finish; however, this time frame cannot be guaranteed and depends on your ability to put money in an escrow account quickly and reach a debt settlement quickly. Freedom Debt Relief works with an extensive network of attorneys in providing legal representation services for clients sued by creditors; their service fees and costs could increase accordingly; therefore it’s crucial that sufficient funds remain in your escrow account in order for this service to run its course effectively.
Freedom Debt Relief has assisted over 600,000 customers in clearing away debt since its establishment. Unfortunately, some customers have reported issues with Freedom Debt Relief’s fees and customer service; specifically that some have reported being charged too much and failing to provide full disclosures; additionally the Federal Trade Commission alleged violations to Telemarketing Sales Rule violations among other issues; these complaints have been addressed and practices improved accordingly; nonetheless Freedom Debt Relief remains worth considering for people struggling with debt, as evidenced by its 79% excellence rating on Trustpilot and membership in American Fair Credit Council.
Customer service
Freedom Debt Relief stands out with superior customer service by employing a team of expert debt counselors who help consumers negotiate and settle their debts for less than what is owed, potentially saving thousands in interest charges. Furthermore, they offer educational materials to assist consumers better manage their financial situations as well as transparency regarding fees and services provided.
Freedom Debt Relief’s financial guidance services also assist clients in avoiding foreclosure and bankruptcy by helping to stop debt collection calls and creditor harassment. Furthermore, Freedom Debt Relief offers prospective customers a complimentary consultation and savings quote, helping them make informed decisions regarding whether debt settlement may be right for them.
This company is an industry-leading debt relief provider and accredited by the Better Business Bureau, receiving only 350 complaints of which most involved problems with billing practices; some even resulted in lawsuits being filed against it. Their rating with BBB stands at A+; however, many complaints concerning billing issues led to lawsuits being filed against them.
This company specializes in handling unsecured debt such as credit card and personal loan debt, medical provider accounts to negotiate settlement for less than full bill payment and private student loan debt; they do not currently work with federal student loans.
Debt settlement may have an adverse impact on your credit score; however, it remains an excellent solution for those struggling to repay their balances but cannot afford full payoff at once. Furthermore, debt settlement provides a faster alternative than filing bankruptcy.
If you are considering debt relief options, it is essential that you conduct adequate research on various companies and read reviews from other consumers. Be wary of companies without industry accreditations, money-back guarantees or client portals as these may have upfront fees associated with them. Finally, ensure any decisions are discussed with an accredited debt counselor first before making any definitive choices.
Reputation
If you are struggling with debt, debt relief services can provide a much-needed service in helping reduce what you owe and make payments easier to manage. Before selecting one though, it’s essential that you do your research carefully – choosing a reputable firm with strong reviews such as Freedom Debt Relief’s B rating with Better Business Bureau as well as high ratings from TrustPilot and Consumer Affairs will guarantee quality customer service and ensure an enjoyable experience – luckily Freedom Debt Relief boasts these characteristics with their services being one such relief service provider offering quality customer service to make their services the ideal solution – they have high ratings with both organisations for this exact purpose.
Freedom Debt Relief is a credit counseling agency that negotiates on its clients’ behalf with creditors to offer debt relief. Services include consolidation and refinancing for credit cards and student loans as well as settlement services for medical and auto loans among others. Unfortunately, Freedom Debt Relief does not offer management for secured debts such as payday loans nor bankruptcy assistance services.
This company charges a fee for their services, though no upfront or cancellation fees are levied. Furthermore, according to Federal Trade Commission rules it will not charge for settlements that come in under estimate; additionally clients have the ability to select an amount more than what they owe when making settlement decisions.
Though some freedom debt reviews on the internet may have been negative, most are tied to consumer complaints from past. Nonetheless, Freedom Debt has taken steps to address their concerns and is now recognized as an organization helping thousands of people each month.
TrustPilot gives this company a 79% Excellency Rating, and was founded by Stanford Business School graduates. Alongside debt relief services, the company also provides financial tools and education. Furthermore, they’re founding members of the American Fair Credit Council, dedicated to best practices within credit advocacy industry. Over 650,000 clients have used them and resolved over $10 billion worth of debt – it should be noted however, they don’t assist with federal student loans.
Success rate
Freedom Debt Relief is a debt settlement company that assists those struggling with debt to find relief. Their four-step program allows clients to build savings in an account dedicated to them before negotiating with creditors to settle debt for less than its total balance. They claim they have helped over 650,000 clients resolve over $15 billion worth of debt with their service available in all 50 states – all that comes complete with free consultation by an adviser!
This debt management service boasts an above-average success rate, boasting fees ranging from 15%-25% of debt enrolled. However, they do possess experience and resources necessary to settle many types of debt; though there are no guarantees. Furthermore, the program requires time and may even cause lasting damage to credit records in its entirety.
As part of a debt relief program, when you sign up, you will stop making payments to creditors and instead depositing the savings into a separate account. Over time, this savings may be enough to induce creditors into negotiations for reduced repayment arrangements; typically they agree to reduce what you owe by less than what has already been paid, although this may take many months or even years before final agreement can be reached.
Financial information will also need to be submitted, along with an inventory of your debts. Your counselor will assess each debt and discuss possible ways of reducing it together. They’ll work with you to establish how much should be deposited each month into an escrow account based on both your ability and amount of debt you want to tackle.
Freedom’s program primarily targets unsecured debt, like credit card accounts. They cannot assist with loans that involve collateral such as mortgage or car loans and federal student loan debt; for more information regarding their capabilities and restrictions visit their website.
Freedom Debt Relief’s services go far beyond simply debt reduction; they also negotiate with creditors on your behalf to reduce late fees and interest rates on existing debts, including those belonging to family or employers. Unfortunately, Freedom Debt Relief will not assist with debts owed against either them directly.