Written by: Chad Zollinger | Best Company Editorial Team
Last Updated: February 24th, 2020
1. Highly Positive Customer Reviews
- Quick debt relief services
- "Top-notch" customer service
- Respectful explanation of personal financial situation
- Thorough explanation of debt relief options
- Informative tax experts
- Stress-free service
- True to their word
Despite the positivity in the vast majority of its customer reviews, customers should also be aware of the negative reviews associated with Freedom Debt Relief. Make sure to get a good grasp on what customers are saying about any given company before making a final decision.
2. Some Negative Customer Reviews
The few negative customer reviews of Freedom Debt Relief mostly refer to the company's apparent inability to predict the amount of debt that would be settled.
Though this may be a concern for most customers, you should know that estimating a settlement amount will be extremely difficult for any debt settlement company.
Other negative customer reviews have expressed regret that the debt settlement process takes so long and the fact that debt settlement reduces their credit score to the degree that it does. The reduction of customer credit score is another complaint that is seen across the debt relief industry.
Here are a few of the other complaints customers have about Freedom Debt Relief:
- Incorrect items processed
- Higher initial fees
- Settlement process take too long
3. Great Settlement Program
Likely the best part about Freedom Debt Relief, a subsidiary of Freedom Financial Network, is the fact that the company assigns a specific debt expert to each client.
One of the complaints that customers have about debt settlement companies specifically is that they only care about making money. When a debt settlement company assigns a dedicated debt consultant to each client, it goes a long way in showing customers that they care.
Aside from assigned reps, customer reviews have indicated that Freedom Debt Relief takes the time to cover all possible options with the customer before having them sign a contract.
Customers will also take comfort in knowing that Freedom Debt Relief has a solid history of successful debt negotiation.
Though no debt settlement company can guarantee results, customers can look to both positive and negative debt settlement reviews in order to get the most accurate, up-to-date, and trustworthy information possible.
4. Online Customer Dashboard
Once customers sign up with Freedom Debt Relief, they receive access to the FDR client dashboard. The inclusion of an online dashboard gives customers the ability to track their pace through the debt settlement plan, staying ahead of their creditors on their journey to financial freedom.
Though several other debt relief companies also provide online client dashboards on their websites, it's nice to know that Freedom Debt Relief is making an effort to loop in customers on their negotiation status.
5. State Availability
One of the slight downsides of its service is the fact that Freedom Debt Relief doesn't service all states.
It is somewhat understandable, as every state has different limitations and qualifications for debt relief companies, but there are companies that offer more state availability than others.
Freedom Debt Relief is available in 38 states, Washington, D.C., Puerto Rico, Guam, and American Samoa. Though many debt relief companies offer services to the entire United States, customers report that FDR's services are thorough and expert.
Freedom Debt Relief does not provide its services in the following states:
- North Dakota
- New Jersey
- South Carolina
- West Virgina
6. Industry Experience
Freedom Debt Relief has been negotiating and settling the debts of its customers since 2002.
Such experience gives company representatives the know-how to advise customers in even the most unique and dire of financial troubles.
Debt problems are always unique to the individual, so company experience can be a huge factor in determining the best debt relief company.
7. Industry Accreditations
Another factor to consider is the company's history of accreditations and qualifications.
Accreditations show customers that a given debt relief company adheres to industry standards and guidelines necessary for successful negotiations and a quality customer experience.
Fortunately, Freedom Debt Relief has an accreditation from the American Fair Credit Council (AFCC). The AFCC is the leading association of professional consumer credit advocates.
Its purpose is to identify companies that support and advocate for consumers struggling with debt.
The AFCC also ensures that its accredited companies adhere to industry "best practices" for debt relief providers.
8. Possibly Higher Prices
It is not unheard of for specialized debt relief companies to charge 15 percent, 10 percent, and even down to 5 percent of customer's total enrolled debt.
Of course, higher debt usually means lower fees in the debt relief industry. So, exactly how much does Freedom Debt Relief charge? As it stands, Freedom Debt Relief charges an average of 20 percent of a customer's enrolled debt.
This means that if a customer enrolls $50,000 in FDR's debt settlement plan, and the company settles $35,000 of that debt, the customer still has to pay fees of $10,000 plus that amount still owed to their creditors.
In this case, the customer pays $25,750 ($10,750 + $15,000) instead of paying the original $50,000. Freedom Debt Relief's fee could be anywhere from 18 percent to 25 percent of the enrolled debt.
The total amount a customer pays, in the end, will depend on how well the debt negotiation goes. Customers should have a good idea about what percentage they will be charged when they complete their free consultation.
9. $7,500 Minimum Debt Requirement
Customers will have to have more than $7,500 in unsecured debt to work with Freedom Debt Relief.
Debt relief companies have minimum debt requirements because it no longer benefits both the company and the client to negotiate debts so small. The problem is that some customers with debt under $7,500 still need debt relief services.
So, what should you do if have less than $7,500 in unsecured debt, but still need help with your debt issues?
Consider a credit counseling firm or a financial education company.
Consumer credit counseling is a cheap way to handle smaller, more manageable debts and is a great alternative to debt settlement programs.
10. Over $10 Billion Settled
Because Freedom Debt Relief has one of the biggest debt settlement programs in the nation, the company is able to handle a large number of clients and still provide each client with a dedicated debt expert.
Through its financial guidance and negotiation services, FDR has been able to successfully settle over $10 billion in debt. This is a great track record.