How To Get Freedom Debt Relief Program – Working with a debt relief or debt settlement company might be an option for you if you are having trouble paying off your debt and have exhausted all other options. By negotiating with creditors to reduce the amount owed, debt relief companies assist individuals in paying off their debts. Going this route carries some risks and does not guarantee results. Debt relief costs money, can hurt your credit score, may show up on your credit report as you paid less than you owed for the original debt, and may not stop collection efforts.
Regardless of the dangers, debt relief can be the ideal choice in certain circumstances.The best debt relief companies have solid reputations and reasonable fees. They have a lot of experience, a high rate of customer satisfaction, and they are members of trade organizations in the industry. Freedom Debt Relief is one of the most well-known and reliable companies that provide impactful solutions to clear off your debt. Apart from that there are a number of Free Government Debt Relief Programs that might be of great help to you. Go through the article to get all the information about the Freedom Debt Relief Program.
Highlights of this Post
What is the FDR Program ?
Freedom Debt Relief is a founding member of the American Fair Credit Council, the leading national association of debt settlement companies, and has offices in Arizona and California. Freedom Debt Relief has resolved over $15 billion in debt since 2002, assisted over 850,000 clients, settled over 4 million accounts, and helped more than 4 million people. On Trustpilot, it has a rating of 4.6 stars.Freedom Debt Relief employs numerous debt relief specialists, including consultants, customer service representatives, debt negotiators, and other staff members. The
Freedom Debt Relief Promise guarantees a refund if the client fees exceed the program’s cost, serves as the company’s guiding principle.Clients of Freedom Debt Relief have quick and simple access to the program dashboard, where they can add new debts, accept settlement offers, manage deposits, and more. Additionally, educational videos and monthly newsletters are accessible from the dashboard. If you are looking for financial help, catholic charities can help you out.
How does Freedom Debt Relief Operate?
Freedom Debt Relief provides debt settlement services that work to reduce the amount you owe on eligible unsecured debt accounts. You make a monthly payment into a program account that you control and is insured by the FDIC. Freedom Debt Relief negotiates settlements with each of your eligible creditors as funds accumulate in your account.
Crossroad Financial Technologies, Freedom Debt Relief’s payment processing partner, uses the accumulated funds to pay your creditors once a settlement agreement has been made and you have authorized that settlement.The creditors will mark the account as fully settled when your settlement has been paid in full. The Freedom Debt Relief program does not require good credit to enroll, and there are no upfront fees.
You should be able to walk away from the program without any debt to the creditors you included in your plan if you complete it successfully. Freedom Debt Relief handles a variety of unsecured debts. You could possibly enlist in case you have unpaid medical bills, credit card bills and personal loans.
However, you are unable to enroll in secured debts like a mortgage or auto loan. Although assistance with private student loans may be available on a case-by-case basis, FDR does not negotiate federal student loan debt.
Types of Debt Addressed by Freedom Debt Relief
Customers of Freedom Debt Relief receive assistance in negotiating and settling any unsecured debts they may have. This indicates that they concentrate on debts that do not involve collateral. The following is a description of the kinds of debt this company can assist with.
Credit Card Debt
The majority of Freedom Debt Relief’s efforts are directed toward assisting clients in negotiating and paying off credit card debt. With an average interest rate of 16.26 percent, it’s easy to see how customers could run into trouble and require assistance in paying off their debts (including principal and interest payments) for less than they owe.
Medical Debt
Even for those who have health insurance, medical debt has become a major issue in the United States. Freedom Debt Relief negotiates with medical providers and hospitals to reduce medical debt to less than the total cost.
Private Student Loans
Additionally, Freedom Debt Relief claims that they will assist in negotiating and settling private student loan debt in some instances. However, they don’t assist with government student loans. There is also help available for mortgage payments, if you are struggling to pay back your mortgage loans.
How To Apply for Freedom Debt Relief ?
Freedom Debt Relief makes it simple to get started. The debt relief process can be started online or over the phone. If you choose to enroll online, the following steps must be taken :
- To begin the questionnaire, select the “See If You Are Eligible” link on the homepage.
- Please enter the approximate amount of your debt to participate in the program.
- Enter your personal information such as name, email address, phone number and state of residence to obtain tour custom outcomes.
- Make an appointment for a free of cost debt consultation by filling out an online application or calling a licensed debt consultant.
- Consider the advice provided by the consultant to determine whether or not the debt settlement program is right for you.
You will discuss your debt and financial situation during the debt consultation. To determine whether debt settlement is right for you, you will receive a customized financial assessment that takes into account your monthly budget and the amount you owe.
It is important to keep in mind that Freedom Debt Relief is intended to assist people who are having trouble making their minimum payments or who are past due on their bills.It’s possible that Freedom Debt Relief won’t be able to pay off your debt as quickly if you keep making payments on your enrolled accounts.
A personalized plan with a program payment that fits your budget will be provided to you if you decide to proceed with debt settlement through Freedom Debt Relief.You will begin making monthly deposits into your FDIC-insured program account as soon as your plan is in place.
You would only need to make your monthly payment on time from that point on, and Freedom Debt Relief would take care of the rest. This includes negotiating settlements with your creditors and ensuring that they are paid once an agreement is reached.
Freedom Debt Relief claims that clients of debt settlement typically have to wait between 24 and 48 months to pay off their enrolled debt. Before you sign up for the Freedom Debt Relief programs, you should remember these factors:
- You ought to have somewhere around $7,500 in unsecured debt to be eligible for the Freedom Debt Relief program.
- You are required to pay a fee ranging from 18.25 percent to twenty-five percent of the settled debt.
- When you participate in the program, it’s viable that your credit score rating will go down.
- The program can take anywhere from 24 to 48 months to finish.
- It is essential to research earlier to enroll for any debt relief program. You need to compare amongst various programs to discover the program that fits your bills and go through reviews from previous clients.
- Also, you should beware of the risks related to debt relief as an instance it would damage your credit score rating.
If you’re considering making use of the Freedom Debt Relief program, it’s encouraged to seek advice from a financial expert for professional advice.
Is the Freedom Debt Relief Program Legit?
Freedom Debt Relief is a legitimate business that joined the American Fair Credit Council as a founding member in 2002. Additionally, it has a membership of the International Association of Professional Debt Arbitrators. Although Freedom Debt Relief’s primary service is debt negotiation, the company is committed to assisting you in determining the most effective course of action.
This could include credit counseling, refining your budget, debt consolidation and bankruptcy. Freedom Debt Relief is upfront about the costs associated with its services. If you have questions, help is accessible via phone or email.
Pros and Cons of Freedom Debt Relief
Some of the Pros and Cons associated with the Freedom Debt Relief program are as follows.
Pros :
- If you only make the minimum payments, you might be able to pay off your debt faster.
- Your monthly payments to your plan might be less than what you pay to your creditors.
- If you pay off your debts sooner, you might save some money on interest.
Cons :
- Freedom Debt Relief isn’t free; you’ll have to pay for its services.
- Debt settlement can hurt your credit score.
- Creditors don’t have to agree to the plan.
- Some debts can’t be enrolled.
- Not finishing the plan could make your financial situation worse.
- You might still get calls from creditors after enrolling.
- You might still have to file bankruptcy.
FDR Program Reviews
Consider reviews for the Freedom Debt Relief program from reputable sources if you are interested in what customers have to say. Freedom Debt Relief has a 4.5-star rating on Trustpilot. Although a few individuals have complained regarding the fees that Freedom Debt Relief charges, the vast majority of reviews are generally favorable.The Better Business Bureau recognizes Freedom Debt Relief with an A+ rating.
as indicated by the association. In light of client surveys, the organization procures 4.3 out of 5 stars. In the last three years, 359 customer complaints have been filed, and 105 of those complaints have been resolved. A lack of communication and sluggish response times from Freedom Debt Relief’s support specialists are mentioned in several negative reviews on the website of BBB.
Bottom Line
I hope the article has provided you with all the information about the Freedom Debt Relief Program. One way to reduce your debt is to negotiate a debt settlement, but doing so may result in a decrease in your credit score, an increase in fees, and additional tax liabilities. If you have no other options left and still you are having trouble making your payments on your debts, debt relief services might be able to help you get out of a huge debt. One firm that provides debt settlement services is Freedom Debt Relief. Consider all of your debt management options to find the one that best suits your needs before proceeding with debt settlement.
Frequently Asked Questions
What is the difference between a debt settlement and debt relief?
When you settle or pay off a debt for less than you owe, this is called debt settlement.Typically, debt relief means getting your debt forgiven, but it can also mean temporarily not paying it.
Do I qualify for a debt relief program?
Applying for a debt relief program is the most effective method for determining eligibility. Be ready with proof of your income, such as bank statements and pay stubs, since most programs will require it. Be sure to investigate potential programs to ensure that they are legitimate because the exact requirements vary from program to program.
How long does debt relief fund processing take?
It can take anywhere from three to four years to complete the debt relief process. Starting when you stop making regular payments to your creditors and continuing until you finally pay off the discounted amounts negotiated by a debt relief company, debt settlement can take up to three to four years to complete.
How much does debt relief cost?
The cost of debt relief typically ranges from 15% to 25% of the total amount of unsecured debt or debt that is not secured by an asset—for that you enroll in the program.
Does debt relief destroy credit?
The National Foundation for Credit Counseling estimates that debt relief or settlement lowers a credit score by 100 points.
Does Freedom Debt Relief provide loans?
Freedom Debt Relief is not a lender and does not provide loans for any other purpose, including debt consolidation.
Who is eligible for Freedom Debt Relief?
Freedom Debt Relief is generally available to individuals who are experiencing financial difficulties that make it challenging to pay back their debts. You might be qualified if you owe unsecured credit card bills, individual loans or medical expenses.
Can I do debt relief myself?
Debt relief is based on paying creditors less than the original amount to settle debts. You could do this without anyone else’s help and save money on the charges. With some time, diligence, and reserve funds to pay for the debt whenever you’ve arrived at a settlement, doing this without anyone’s help is conceivable.
