Freedom Debt Relief Reviews: Freedom Debt Relief offers a free, no-obligation consultation before enrolling in a debt relief program. They’ve helped clients settle debt for less than $10 billion since 2002. Certified Debt Consultants work for Freedom Debt Relief and assist people to get out of debt. These professionals help people pay off their debts and move on with their lives.
The best debt reduction firms
Freedom Debt Relief may be able to assist you if you’re struggling with credit card debt and other problems. You’ll pay a portion of the amount paid if you employ this company to negotiate and settle your debts on your behalf. To help you understand the process, Freedom Debt Relief offers a free consultation. You’ll find out how much you can save and how long you’ll be in the program on this call. Debt settlement is a technique for settling debts for a lower amount than you owe. In the meantime, you’ll default on your loans, negatively impacting your credit score.
Pros and Cons
Real-time client dashboard tracking: The customer dashboard at Freedom Debt Relief allows you to keep track of your debt settlement process at any time. Anyone can use this to witness their idea in action. Not every debt relief company has a website. There are no upfront settlement fees once you’ve enrolled. When you achieve outcomes, you merely pay a percentage of the loan.
Explained Cons
Costs of up to 25% of settled debt: Freedom Debt Relief charges fees of up to 25% of the resolved debt. Freedom Debt Relief assists people with unsecured debts. They concentrate on unsecured debts. This business can assist you with the following debts.
Credit Card Debt
Freedom Debt Relief specializes in credit card debt negotiation and repayment. With a 17.13 percent interest rate, it’s simple to see why consumers would need assistance paying down their debts (principal and interest) for less than they owe.
Costs
Medical debt is a major worry in the United States, even with health insurance. Medical debt is negotiated through Freedom Debt Relief with hospitals and providers.
Personal loan
Freedom Debt Relief also assists with private student loan debt negotiation and settlement. Federal student debts are not eligible for assistance. Debt settlement may be available for other unsecured obligations. Unsecured debts might be included in a debt settlement plan (i.e., credit card bills and medical debt).
New Customer Onboarding
Unsecured debt, such as credit card debt, medical bills, and other personal issues, must total $7,500 to qualify for Freedom Debt Relief. A “true financial difficulty” is required, and falling behind on bills helps. Creditors will not negotiate if you pay on time and in full, according to Freedom Debt Relief. For a free debt settlement consultation, contact Freedom Debt Relief. You’ll talk about your debts, how much money you could save, and how long you’ll need to stay in the program during this discussion. By entering debt and address information, Freedom Debt Relief allows you to “see if you qualify” online (without calling).
Service-Oriented
Freedom Debt Relief offers telephone and email assistance. Monday through Thursday, from 8 a.m. to 9 p.m., and Saturday and Sunday, from 10 a.m. to 8 p.m. Certified Debt Consultants are available from 8 a.m. to 11 p.m. Monday through Friday. While Freedom Debt Relief does not offer online chat like some other companies, it does have an impressive online customer dashboard. You can monitor your account, add documents, and check progress via the client dashboard.
Reputation
Unfortunately, the debt relief industry is replete with con artists who make false promises. Some debt relief companies, for example, may try to collect upfront fees or enroll you in their program without explaining the risks. The FTC advises that you check with your state Attorney General and local consumer protection authorities before using a debt relief company. 2 You may look up debt settlement companies in the Consumer Financial Protection Bureau’s database.
In 2017, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Freedom Debt Relief for allegedly charging clients an advance fee and failing to inform them of their rights to money deposited with the organization for debt settlement. The lawsuit was settled in 2019 for $20 million-plus $5 million in civil penalties by Freedom Debt Relief. 3
Average Assistance
Freedom Debt Relief claims to be able to assist you to settle your debts for a fraction of what you owe. Fees will be charged for their assistance in negotiating and settling your obligations.
It’s Relief Time!
The Freedom Debt Relief program is supposed to last between 24 and 48 months, however, it could be shorter (or longer) depending on your circumstances. This is a typical debt relief timeline.
Debt relief consumer reports
Third-party reviews can help you evaluate debt settlement firms. Find out what their customers think before doing business with them. BBB has rated Freedom Debt Relief B for great customer service. They have few complaints. Freedom Debt Relief is reviewed elsewhere.
Lawsuit
Freedom sued CFPB and filed Debt Relief in 2017. Freedom was accused of billing consumers without paying their bills, pushing them to negotiate their own settlements, and misrepresenting its fees in a 2012 complaint. In July 2019, Freedom agreed to pay $20 million in consumer compensation and a $5 million civil penalty to the Consumer Financial Protection Bureau.
Debt Consolidation’s Aftermath
Freedom Debt Relief should settle most or all of your unsecured debts. Unpaid invoices don’t matter. Start anew with your future money management. If you desire a fresh start, follow these steps to get your life back on track.
Step 1: Start restoring your credit
Freedom Debt Relief can help you manage your debt, but it won’t boost your credit. Debit and credit are intertwined, but mending one doesn’t fix the other. After you’ve paid off your debt, work on improving your credit. Request all three credit reports at once. There may be a flurry of late payments. Check that your settlements are mentioned correctly. The credit bureaus can also be disputed directly. You should keep thorough records during the debt settlement procedure.
Second, plan financially
There could be several reasons why you’re in debt. You may have been unable to work owing to an injury, long-term unemployment, or living above your means. Use the time to improve your money. If you can’t work due to an injury, try asking for disability benefits or acquiring a new skill to boost your CV. If you’re having budgeting issues, read on. Long-term measures are needed to avoid reentering the debt cycle.
3: Repetition of Good Habits
Freedom Debt Relief’s settlement program doesn’t imply you won’t pay credit cards, but you can retain other accounts in good standing. Paying your mortgage, phone, and utility bills on schedule each month may help you maintain your credit score. Keep a low-limit credit card open and pay it off as quickly as possible to prevent extra costs. After your debt settlement, continue your good financial habits. With consistency and the right debt settlement program, you can have a brighter financial future.
Conclusions
According to debt relief evaluations, settlement is one of the last possibilities before bankruptcy. Before choosing, examine all of your options carefully. Freedom Debt Relief is a popular and reliable alternative. Freedom Debt Relief has years of experience, billions in settled debt, and thousands of positive internet reviews.
