Lifestyle

Freedom Debt Relief Reviews

You’ve heard so much about scams in debt settlement that you’ve been loathe to join a program. That’s a shame, because the financial strategy has helped scores of consumers emerge from debt and start a new life. All you need is a reputable company to help you. Freedom Debt Relief is one such company. It’s been around for nearly 20 years, after all. But don’t just take our word for it. Check out Freedom Debt Relief reviews.

What is Debt Relief?

Let’s make sure we’re on the same page here. Debt relief, also called debt settlement, is when you hire a firm such as Freedom Debt Relief to go to your creditors and get them to accept a fraction of what you owe to settle your debt. Credit card issuers and other creditors usually go along because if you file bankruptcy – your last-ditch option – they get nada.

How Does it Work?

You’ll go over your finances for free with a Freedom specialist, who will assess them and explain your options. You need at least $7,500 in unsecured debt – credit cards, medical bills or personal loans, for example. 

After you’ve enrolled, the company will ask you to put money in an escrow-type account until you’ve accumulated enough for negotiations to begin. After each debt is settled, funds will be drawn from that account to satisfy your debt. The process is repeated until all your unsecured debt is cleared, and your new life begins. 

The entire process takes between 24 and 48 months, although you likely will have your first settlement within a few months. You can always track your progress with Freedom Debt Relief’s online dashboard. But hey, see what others say about the process. Take a gander at Freedom Debt Relief reviews.

Will Debt Relief Affect My Credit?

The process of debt relief will squeeze your credit rating until your debts are settled, then your scores will ultimately rebound. And remember: your scores haven’t been great in quite some time, anyway. So, don’t let this dissuade you from getting out from under that burdensome debt. Oh, and make sure your spending is under control so that you don’t find yourself back in this situation.

How Much Does Debt Relief Cost?

Freedom Debt Relief charges customers between 15% and 25% of their enrolled debt, depending on the state in which they live. You won’t be charged a nickel before one of your debts is settled – that’s the law — and the company is transparent about its fee structure.

Is Freedom Debt Relief a Legit Company?

It’s been around since 2002, so, yes. If it were some sort of scam, it would not have lasted this long. Since then, it has served over 750,000 customers and settled more than $10 billion in debt, saving customers more than $2 billion. With some 2,000, professionals, Freedom has grown to become the industry’s largest debt settlement company. 

Freedom is accredited by the American Fair Credit Council, which makes sure members comply with industry standards, and the International Association of Professional Debt Arbitrators. A decade ago, the company helped craft the Federal Trade Commission’s rules prohibiting abusive debt settlement practices.

What About Customer Service?

Trustpilot gives Freedom Debt Relief a 4.6 out of 5 rating – not shabby at all. Overall, customers point to the company’s courteousness, professionalism, thoroughness, and transparency.

Read through those Freedom Debt Relief reviews to learn more about what people think of Freedom Debt Relief, a company that has your best interests at heart. Haven’t you waited long enough? Call Freedom today.