Freedom Debt Relief has been around since 2002 to help consumers burdened by debt regain their financial footing. Since then, it has served more than 650,000 consumers and resolved over $10 billion in debt – more than any other company in the United States. Let’s take a closer look at the company and what debt relief entails.
Is Freedom Debt Relief a Good Idea?
Well, you should read what consumers think about Freedom Debt Relief. But more on that later.
The company offers debt settlement services, which allow you to pay creditors less than what’s owed to clear your balances. The process allows you to avoid the last resort of bankruptcy – which will stay on your report for seven to 10 years and hamper your ability to get future credit — and will improve your situation over time. Debts handled by Freedom Debt Relief are typically resolved in two to four years.
In this industry, credibility is paramount Lucky for you, Freedom Debt Relief is accredited by the American Fair Credit Council – which it helped found — and the International Association of Professional Debt Arbitrators.
The company has also received an excellent 4.7 (of five) star rating from LendingTree reviewers – no small feat.
What Are FDR’s Requirements?
You need to have at least $7,500 in unsecured debt such as credit card balances, medical bills, or personal loans. The company does not handle secured accounts – debts such as car loans or mortgages that are attached to collateral.
The company might provide debt settlement relief for private student loans and some business debts, but that’s decided on a case-by-case basis.
How Much Does the Service Cost?
With FDR, you can expect to pay between 15% and 25% of your settled debts; the average fee is 21.5%. As required by law – although some scam companies will try to skirt it – Freedom Debt Relief doesn’t begin charging you until your first debt is settled. Your fee will depend on your state and how much debt you owe.
How Does the Process Work?
After a free initial conversation with a certified FDR debt relief consultant, during which your financial situation and options will be reviewed, you’ll begin depositing funds monthly into a dedicated savings account that you control. Rather than paying creditors directly, your settlement payments will ultimately come from this account.
Once your account has accrued sufficient funds, Freedom Debt Relief will begin talks in earnest with each of your creditors. The process will repeat until all debts are cleared.
While your creditors are not obliged to work with you, most do for fear that you will file bankruptcy, in which case they get zilch.
Freedom Debt Relief Reviews
As we say, the industry does attract bad apples that will seek to take advantage of your vulnerability and desperation to get out from under all that debt. Such companies will promise you the moon, even before they assess your situation. That is why it’s vitally important to do your homework and come up with an accredited company that has a long record of successful negotiations.
Check out Freedom Debt Relief reviews and testimonials and read what industry experts and customers say. Then make your choice based on that. While you can’t please everyone, what you will find is that what reviewers and consumers think about Freedom Debt Relief is overwhelmingly positive.
Why not join the scores of people across the nation who are now living their best, debt-free lives, thanks to perseverance, patience – and FDR.
Don’t delay another minute. Call Freedom Debt Relief today.