Freedom debt reviews provide consumers with an invaluable service for getting out of debt. They help people settle unsecured debt such as credit card bills, department store accounts and medical bills more quickly and more affordably.
Freedom Debt Relief’s debt settlement service works by having clients begin saving in an FDIC-insured savings account and depositing enough money therein; then they negotiate with creditors to settle debts.
Freedom Debt Relief’s fee structure
Freedom Debt Relief offers affordable and user-friendly debt relief services, making their services both cost effective and simple to use. They negotiate settlement deals directly with creditors while providing you with a monthly deposit amount that fits within your budget; this way you can pay off debt faster than if settling it on your own. Their program covers unsecured debt such as credit card or personal loan debt but cannot assist with mortgages or auto loans secured with collateral – in addition to federal student loan debt issues that Freedom cannot address.
Freedom Debt Relief can assess your financial situation to determine if debt settlement is right for you and demonstrate how much savings could be achieved with their program. Visit their website or call their customer service line for a free consultation, or submit some basic debt details online to see if you qualify for their program.
Fees charged by this company depend on the total debt they negotiate on your behalf, without charging up-front fees as is forbidden by law; rather, fees are only assessed once settlement of debt occurs – giving you confidence that you’re getting the best possible value for your money.
Debt relief programs will have an adverse impact on your credit score; however, they’re better than allowing debts to default and destroy it permanently. Freedom Debt Relief’s expert negotiators team can negotiate with creditors to settle debt for less than you owe – providing relief without further damaging credit scores!
National Debt Relief has received accreditation from the Better Business Bureau, and customers rank it highly on ConsumerAffairs and Trustpilot. Customers praise its excellent customer service and transparent fee structure as hallmarks of quality debt relief services that don’t leave customers bothered by debt collectors or bankruptcy filing. It is an ideal option for those looking for relief without bankruptcy filing hassles; its A+ BBB rating offers even greater peace of mind compared with National Debt Relief who charge slightly higher for similar services.
Its debt settlement process
Freedom Debt Relief works with creditors to negotiate debt settlements at less than the full amount owed, charging its negotiating fees as a percentage of the final settlement figure and charging a monthly management fee for managing consumers’ accumulation funds in dedicated accounts – fees which it says help pay its employees and cover operating expenses.
Negotiated settlements by companies can have adverse repercussions for consumers’ credit scores. Since debt settlement programs generally require enrollees to stop making payments on their enrolled accounts, those accounts will likely become delinquent and be sold off to collection agencies or third-party buyers; this has a detrimental impact on one’s score and may make loans or employment harder to come by; but if necessary it could provide an alternative to bankruptcy filing.
As part of your evaluation of debt settlement services, it’s crucial that you assess their track record and reputation. Check their Better Business Bureau rating as well as consumer reviews from ConsumerAffairs and Trustpilot. Make sure the company operates legally within your state as well as being accredited by an established body.
Debt settlement companies sometimes give consumers false hopes about their negotiation skills. For instance, they might lead them to believe that all creditors are willing to work with them when in fact some major creditors prohibit such firms from working together with them to settle debts. Furthermore, some of these debt resolution services charge consumers even when no settlement agreement can be negotiated successfully.
Its overall rating
Freedom Debt Relief stands out among America’s premier debt-relief companies for its excellent services. Accredited by the Better Business Bureau and with an outstanding 79% excellency rating on TrustPilot, they specialize in credit card debt, but can assist people struggling with other forms of debt as well. However, debt-relief may negatively impact your credit reports and scores which could make obtaining loans or lines of credit more challenging later. Furthermore, creditors and collection agencies may continue calling you while working with a debt-relief company which may cause additional stress and pressure if already struggling with debt issues.