Are you struggling to pay off your debts? Are you feeling overwhelmed and stressed out? If so, you may want to consider seeking help from a debt relief company. Freedom Debt Relief is one of the most popular companies in this industry, and in this article, we will take a comprehensive look at what they offer. We will discuss their history, their services, and their fees. We will also provide an overview of the pros and cons of working with Freedom Debt Relief.
The company was founded in 2002 by two entrepreneurs, Andrew Houser and Joshua Lewis. At the time, they were both working for a debt settlement company called National Consumer Center. They left that company to start their own business, with the goal of providing a more affordable and customer-friendly option for people who needed help getting out of credit card debt.
The company is a member of the American Fair Credit Council and a Platinum member of the International Association of Professional Debt Arbitrators.
Since its inception, Freedom Debt Relief has helped tens of thousands of people get relief from their debts. The company offers three main services: debt consolidation, debt settlement, credit card debt and credit repair services or credit counseling. All of these services are designed to help people manage their debts and get on track with their finances.
Freedom Debt Relief Pros and Cons
There are both pros and cons to working with Freedom Debt Relief.
- You can get out of debt faster
- It’s typically less expensive than bankruptcy
- You may be able to keep your property
- Credit Repair Services
- You may have to pay taxes on the forgiven debt
- It will damage your credit score
- You may still owe some money
It can be a great way to get out of debt, but it’s not right for everyone. Be sure to consider all your options before making a decision.
What is Freedom Debt Relief?
Freedom Debt Relief is a company that helps people get out of credit card debt. They offer services such as debt consolidation, credit counseling, and bankruptcy alternatives. Freedom Debt Relief works with people to create a plan that will help them get out of debt in a reasonable amount of time.
Freedom Debt Relief and National Debt Relief are archcompetitors when it comes to snapping up debt settlement customers and gaining market share. National Debt Relief has had a relatively clean record with consumer regulators. In contrast, Freedom Debt recently settled a $25 million lawsuit with the CFPB and a $3.6 million lawsuit with the New York Attorney General.
How does Freedom Debt Relief work?
It is a process that helps people get out of unsecured debt. It does this by working with creditors to reduce or eliminate interest rates, late fees, and other penalties. This makes the monthly payments more affordable, which allows people to pay off their debts faster. It also works to improve credit scores, so people can start rebuilding their finances after they’ve eliminated their debt.
How does Freedom Debt Relief program work?
It is designed to help people who are struggling with unsecured debt. The program works by negotiating with creditors to lower the amount of money that you owe. This can be done by talking to a Freedom’s certified debt consultant, and they will help make a program that suits your needs by consolidating your debts, making lump-sum payments, or reducing the interest rate on your debts. The program’s goal is to help you get out of debt and improve your financial situation.
How does Freedom Debt Relief affect your credit?
The answer to this question is not as simple as you might think. While Freedom Debt Relief may help you reduce your debt, it can also have a negative impact on your credit score.
The company settlements will show up on your credit report for seven years and can negatively impact your score during that time. Additionally, if you miss any payments during the program, that will also be reflected in your report.
Allowing Freedom Debt Relief pay off your debts may be a good option for you if you are struggling. However, you should weigh the pros and cons before making a decision.
How much does Freedom Debt Relief cost?
The short answer is that the Freedom Debt Relief program fees typically range from 15-25% of your enrolled debt, but the average fee is 20%. So, if you enroll $20,000 in debt into the program, you can expect to pay around $4000 in fees.
Now, let’s take a look at how those fees are structured and what they cover. When you enroll in Freedom Debt Relief’s program, you’ll set up a monthly payment plan. The first month’s payment will go towards your setup fee and future monthly payments will be applied to your account balance.
Your account balance consists of two things: your debt and the Freedom Debt Relief program fees. As mentioned earlier, program fees are typically 15-25% of your enrolled debt but can vary depending on the state you live in and the type of debt you have.
The program fees cover a number of things, including account setup and maintenance, communication with your creditors, negotiations to reduce your interest rates and monthly payments, as well as access to our certified credit counselors. So, when you pay your program fees each month, you’re really making an investment in yourself and your financial future. You’re investing in lower interest rates, smaller monthly payments, and most importantly – freedom from debt.
How to contact Freedom Debt Relief customer service
The customer service number is 800-653-1948. You can also visit their website at freedomdebtrelief.com and click on the “Contact Us” link at the bottom of the page. When you call customer service, be sure to have your account information handy so that they can help you as quickly as possible.
How to use Freedom Debt Relief website?
The FreedomDebtRelief.com website is a great resource for people who are struggling with unsecured debt and ae looking for a balance debt resolution. It provides information on how to get out of debt, how to negotiate with creditors, and how to make a budget. The website also has a forum where people can share their experiences and ask questions.
Here’s how to use it:
Start by creating an account. You’ll need to provide some basic information, including your name, email address, and phone number. Once you’ve created an account, you can log in and start exploring the site.
One of the first things you’ll see at the log-in is the Debt Freedom Calculator. This tool will help you figure out how much debt you have, what your monthly payments are, and how long it will take you to pay off your debt.
Next, take a look at the negotiation tools. These tools can help you negotiate with creditors and get lower interest rates.
Finally, check out the budgeting resources. These resources can help you create a budget with a full balance debt resolution that works for you and your family.
How to use Freedom Debt Relief dashboard?
The dashboard is a great way to keep track of your debt and progress. Here are some tips on how to use it effectively:
- Start by creating a login and password. This will allow you to access your account from anywhere and keep your information safe.
- Once you’re logged in, take a look around the dashboard. You’ll see all of your current debts listed, as well as your total balance and monthly payment amount on your unsecured personal loans .
- To make a payment, simply click on the ‘Make Payment’ button and enter your payment information. You can also set up automatic payments so you don’t have to worry about missing a payment.
Which companies does Freedom Debt Relief settle debts with?
Freedom Debt Relief settles debts with the following companies:
- American Express
- Bank of America
- Capital One
- Discover Card
- GE Money Bank (formerly MetLife)
These are some of the largest credit card issuers in the United States. If you have debt with one of these companies, Freedom Debt Relief may be able to help you settle your debt.
How to release your money on Freedom Debt Relief?
There are a few things you need to do in order to release your money on Freedom Debt Relief. First, you need to create an account and then provide some basic information about yourself and your debt. Once you have done that, you will be able to see how much money you can release from your debt.
Next, you need to select the amount of money you want to release and then choose a debt settlement programs that fits your budget. You can also speak with a certified debt consultant if you have any questions about the process or the different payment plans available.
Finally, once your payment plan is set up, they will begin releasing your money so that you can start getting debt free.
Is Freedom Debt Relief legit?
The answer to this question is not as simple as yes or no. It is a legitimate company that has been helping people get out of debt for over 15 years. However, there are some things you should know before you decide to use their services.
First, this service is not a magic solution to your debt problems. They will work with you to create a debt settlement programs to pay off your debts, but it will take time and effort. It would help if you were committed to following the program to see results.
Secondly, Freedom Debt Relief charges fees for its services. These fees can be high, depending on how much debt you have and how much help you need.
Thirdly, Freedom Debt Relief will only work with unsecured debts, such as credit card debts. If you have other types of debt, such as student loans or medical bills, you will need to find another solution.
Fourthly, Freedom Debt Relief is not available in all states. If you live in a state where they are not available, you will need to find another debt relief option.
Finally, it is important to remember that debt relief is not a quick fix. It will take time and effort to make the changes necessary to get out of debt. However, make sure to discuss potential tax consequences and other questions you may have.
Freedom Debt Relief BBB reviews
We take a look at Freedom Debt Relief BBB reviews to see what customers are saying about this debt relief company.
Overall, the reviews are positive, with many people stating that Freedom Debt Relief helped them get out of debt. There are some complaints here and there.
It was so nice to talk with someone that was not judging you and was so happy to help you
I started the program with a debt of $17,136. I graduated after 2.5 years with a Summary of Judgment against me for $10,745 for which my wages are being garnished at $600/mo. So you tell me how great this program works. I am mostly disappointed with their legal team which did not fight for me. My credit has been ruined by FDR. It will take years to repair.
I have been receiving crazy mail and email from them, now that I need them they refused to provide debt relief, contact them and they deny me, I got approved from the other 3 but not them, double standard company
Which companies won’t work with Freedom Debt Relief?
There are a few companies out there that will not work with FreedomDebtRelief.com. If you have credit issues and are looking to work with a debt relief company, be sure to check beforehand to make sure they will work with your specific provider. Otherwise, you could be wasting both your time and money.
Another company that does not typically work with this company is Chase Bank. This is likely because they offer their own in-house debt relief services. However, if you already have a relationship with Chase or another bank, it may be worth checking to see if they can help you get on track without using a third-party service like Freedom Debt Relief.
Finally, some private lenders may not be willing to work with them. This is because they often prefer to work with borrowers directly. If you are looking for a private loan, it is best to check with the lender beforehand to see if they have any restrictions on who they will work with.
If you are considering using Freedom Debt Relief, be sure to do your research ahead of time to make sure that all of your creditors will be able to work with them. Otherwise, you could end up wasting both time and money.
How to cancel Freedom Debt Relief?
There are a few ways to go about canceling your account. You can call their customer service line at the toll-free number on your billing statement, you can send them an email, or you can write them a letter. Whichever method you choose, be sure to include your name and account number so they can easily locate your file.
Canceling by Phone: Call the customer service line and tell the customer service representatives that you would like to cancel your account. They will ask for some additional information, such as the reason why you’re canceling, and then they will process your cancellation request.
Canceling by Email: Send an email to [email protected] with the subject line “Cancellation Request.” Include your name and account number in the body of the email so they can easily locate your file.
Canceling by Letter: You can also cancel by sending a letter to Freedom Debt Relief, LLC at PO Box 25101, Santa Ana, CA 09265-5101. Again, be sure to include your name and account number so they can easily locate your file.
Once you have canceled your account, you will no longer be responsible for making payments to Freedom Debt Relief. However, any outstanding balance on your account will still need to be paid off according to the terms of your original agreement. If you have any about canceling your account, be sure to contact Freedom Debt Relief’s customer service department for assistance.
Remember, it is important to read the fine print before signing up with any debt relief program. Freedom Debt Relief may be a good option for some people, but it might not be the right solution for you. Do your homework and compare different programs before making a decision.
How long does a refund take for Freedom Debt Relief?
The length of time it takes to receive a refund depends on the method of payment used. If you paid by check, the refund will take up to two weeks to process. If you paid by credit card, the refund will be processed within 72 hours. Please note that refunds can only be issued in the same currency as the original payment was made.
Freedom Debt Relief Lawsuits
Freedom Debt Relief Pays $25 Million To Settle Lawsuit with Consumer Financial Protection Bureau
On July 9, 2019, The Consumer Financial Protection Bureau (Bureau) today announced that they have settled its lawsuit against Freedom Debt Relief LLC, the nation’s largest debt-settlement services provider.
The company agreed to pay $20 million in restitution and a $5 million civil money penalty for unfair business practices towards consumers with respect to improper marketing tactics such as misleading Communications like robocalls or texts without consent; high-pressure sales tactics which include making offers sound more lucrative than they actually are by inflating savings figures on settlements agreements when there’s no chance at all one will be able to find any relief through this method alone.
The Bureau’s lawsuit alleged that Freedom Debt Relief violated the Telemarketing Sales Rule by charging advance fees and failing to inform consumers of their rights, as well as a variety of other regulations. The suit also charges them with misleading customers about how much money they would be able to save on interest rates when negotiating settlements directly from all your creditors instead of just one or two at a time–and even going so far as requiring payment upfront before settling any debts!
Freedom Debt Relief Pays $3.6 Million to Settle Lawsuit with New York State Attorney General
The New York Attorney General has secured a win that will return nearly $3.6 million to thousands of consumers who were misled about savings they could achieve through freedom Debt Relief, and it occurs just weeks after this same organization was sued by our office for making false promises in violation on an earlier agreement made with them back when they were operating under different ownership (in 2011).
The AG’s Office filed papers today saying how Freedom Debt Relief committed “extensive fraud” during its operation – misleading people into thinking there was significant progress being made towards wiping out their credit card debts while giving little or no information regarding what actually happened when clients enrolled themselves as members.
Here’s what you need to know about the Freedom Debt Relief lawsuit:
What is the Freedom Debt Relief lawsuit about?
The lawsuit was filed in May 2019, alleging that the company had engaged in false advertising and deceptive practices. The suit alleges that the company had promised to help consumers reduce their debt by negotiating with creditors, but instead used high-pressure sales tactics to enroll them in its program and then failed to deliver on its promises.
Who is suing Freedom Debt Relief?
The lawsuit was filed by the Federal Trade Commission (FTC), which is the government agency responsible for protecting consumers from unfair or deceptive practices.
How much money is Freedom Debt Relief being sued for?
The FTC is seeking to recover millions of dollars from Freedom Debt Relief. The exact amount has not been disclosed, but it is believed to be in the tens of millions of dollars.
What does this mean for consumers?
If you’re considering using Freedom Debt Relief to help you get out of debt, you may want to think twice. Check out White Mountain Partners. The company is facing a lawsuit that could force it to pay back millions of dollars to customers who say they were misled. You may also want to consider other options for getting out of debt, such as credit counseling or debt consolidation.
There are several other companies that offer similar services as Freedom Debt Relief, so do your research before choosing a provider. And remember, you should never pay for debt relief services upfront – these programs should be free if they are provided by a legitimate organization.
Is Freedom Debt Relief a good company?
There are a lot of mixed reviews about Freedom Debt Relief. Some people say that they are great at helping you get out of debt, while others say that they are a scam. So, what is the truth?
Well, to be honest, it really depends on your specific situation. Freedom Debt Relief may be a good company for some people and a bad company for others. It all just depends on your unique financial situation.
When choosing Freedom Debt Relief to help you get out of debt, make sure to do your research first and talk to a few different creditors. That way, you can be sure that Freedom Debt Relief is the right choice for you.
Freedom Debt Relief
Freedom Debt Relief Review
There are a lot of mixed reviews about Freedom Debt Relief. Some people say that they are great at helping you get out of debt, while others say that they are a scam. So, what is the truth? Well, to be honest, it really depends on your specific situation. Freedom Debt Relief may be a good company for some people and a bad company for others. It all just depends on your unique financial situation.
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