Freedom Debt Relief
in Debt Settlement Companies from Freedom Financial NetworkClaimed Get Quote
Freedom Debt ReliefClaimed
in Debt Settlement Companies from Freedom Financial Network
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Freedom Debt Relief Review
Where does Freedom Debt Relief do business?
Freedom Debt Relief is a debt settlement company based in San Mateo, CA. It offers debt relief services to borrowers in 39 states (and Washington, DC). Founded in 2002, it is a well-established company that has been in business for over 10 years.
- Minimum debt balance of $10,000. Freedom Debt Relief only considers clients who have at least $10,000 in debt. This is a typical requirement for most debt settlement companies.
- AFCC and IAPDA accredited. Freedom Debt Relief is a member of the American Fair Credit Council (AFCC), which is the largest trade association for the debt settlement industry. It also employs debt resolution specialists that have been trained and accredited by the International Association of Professional Debt Arbitrators (IAPDA).
- Well-established firm. Freedom Debt Relief has been in business for 18 years.
- Types of debt settled. Freedom Debt Relief will only settle unsecured debts. These include credit card accounts, personal loans, payday loans, and medical bills.
- Does not charge a monthly fee. Unlike some debt relief firms, Freedom Debt Relief does not charge a consultancy fee for additional services.
- Available in most states. Freedom Debt Relief is available in 39 states.
- Offers in-house debt relief services. Some debt settlement companies act as intermediaries for larger firms. This company uses its own staff to handle debt settlement accounts.
- Customer service availability. Freedom Debt Relief allows users to track the progress of their settlement online. It also provides customer support seven days a week. Freedom Debt Relief is strongly recommended by SuperMoney users for its customer service.
Freedom Debt Relief Pros and Cons:
What does Freedom Debt Relief do?
Freedom Debt Relief offers debt relief services for the following types of debt:
- Unsecured debt, such as credit card debt, personal loans and medical debt
What does Freedom Debt Relief charge?
Freedom Debt Relief operates on a contingency fee basis. Companies operating under a contingency fee model charge fees that are based upon a percentage of the debt at the time the consumer enrolled; occasionally they are based on a percentage of the savings negotiated by the debt-settlement company. Across the industry in general, debt settlement clients typically see a 45% to 60% reduction of their enrolled debt.
Freedom Debt Relief charges fees that range from 15% of the enrolled debt up to 25% of the enrolled debt, depending on the amount of enrolled debt provided.
Debt relief service pricing / costs can vary greatly from one client to another so it's best to speak to Freedom Debt Relief directly to determine an accurate quote.
Does Freedom Debt Relief offer a guarantee?No, Freedom Debt Relief does not have a money back guarantee. Some debt settlement companies advertise a money-back guarantee that typically states you won't be charged until your debt is settled. However, it is illegal for debt settlement companies to charge upfront fees before an account is settled. So these guarantees offer little added value to consumers.
What is the minimum debt Freedom Debt Relief will consider?Freedom Debt Relief will only consider customers with unsecured debt of $10,000 or more. Customers with less than $10,000 of unsecured debt may benefit from a debt consolidation loan or credit counseling services.
Does Freedom Debt Relief perform its own servicing in-house?
Yes, Freedom Debt Relief employs its own in-house servicing staff who manage the process and negotiate settlements on behalf of their customers.
What accreditations does Freedom Debt Relief have?
The two main trade associations in the debt relief services space are the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA).
- Freedom Debt Relief is an accredited AFCC member.
- Freedom Debt Relief is an IAPDA member.
- Washington, DC
- New Hampshire
- New Mexico
- New York
- North Carolina
- South Carolina
- South Dakota