Freedom Debt Relief, a subsidiary of Freedom Financial Network, has resolved over $4 billion in debt since their founding in 2002. The company holds considerable industry experience and customer satisfaction. With all the major industry accreditations, Freedom Debt Relief is a great option for many consumers. They offer multiple debt services and are available in 38 states. However, they may have potentially higher prices than other companies in the industry.
- Minimum $7,500 in debt to begin settlement
- Average cost is 21.5 percent of your total debt
- Customer’s are given one representative to work with throughout the process
Experience and Accreditations
Freedom Debt Relief (FDR) has over 14 years of experience in the debt settlement industry. With their level of experience, they know that one of the most important things they can offer consumers is industry accreditations. In fact, according to multiple surveys we conducted, people value national accreditations in their debt company above all other features. FDR is accredited with the AFCC, and the IAPDA.
Most clients who leave Freedom Debt Relief reviews with us have had a good experience. They commend FDR for having good customer service, explaining the settlement process, and keeping them updated on where they are at in the settlement process.
Freedom Debt Relief offers a free consultation when a consumer decides to enlist the company’s services. One debt consultant will remain with the client throughout the settlement process. If consumers are not satisfied with FDR, the company offers a money back guarantee.
One of the features that sets FDR apart from the rest is its unique and intuitive online dashboard to track your pace through the program. This helps people to actually see their progress in settling their debts.
- Only available in 38 states
- Potentially high cost (up to 25 percent of your enrolled debt)
- Users report portal login issues
Potentially High Prices
The major problem we see with Freedom Debt Relief is their price. Users are charged an average of 20 percent of their total debt to use FDR. While this number is in line with their competitors, it is only an average. You could end up paying more than this to use FDR.
Freedom Debt Relief offers its services in only 38 states. Additionally, the company requires a minimum debt amount of $7,500.
While most of the reviews we see for FDR are positive, there are still several people who have complaints about Freedom Debt Relief. The three main complaints clients seem to have are:
- It takes too long to settle debts
- FDR chargers too much for their services sometimes costing consumers 25 percent of their total enrolled debt
- People have trouble navigating and logging into FDR’s website.
Frequently Asked Questions
How Much Does Freedom Debt Relief Cost?
Price varies depending on various factors. Factors that are taken into account is the creditor you’re working with, the state you live in, and the amount of debt you have. After all is said and done, you can expect to pay 15 to 25 percent of your total enrolled debt. Their website states the following:
“If you choose to enroll in a Freedom Debt Relief Program, Freedom charges a fee that depends on a number of things, including the state you’re in, the amount of debt you’re enrolling, and other factors. But, in general, if you enroll in a standard 36 month program, in most cases your fee works out to approximately six to eight percent of your total enrolled debt per year. And the most important thing to remember is that there is absolutely NO FEE RISK to you – we guarantee that you will pay NO FEES for your debt relief services until we successfully resolve a debt for you.”
The review of program details will include:
- Average time for settlements.
- How some creditors can be more aggressive
- How delinquent each debt is
- How drafting monthly can impact the success of completing the program
- What options we have for when creditors call our clients too much
- What options we have for if a client gets sued
Can I Get A Free Consultation?
Yes, they offer a free debt consultation. Calling in and speaking with a debt help specialist will give you the ability to determine the best path to success in your specific situation. While they can give you very helpful information without much of your personal information, they can give you the most effective help when you give them more specific details about your situation. The consultation in no risk and you won’t be locked into anything by calling.
What Types of Debt Does Freedom Debt Relief Work With?
Freedom Debt Relief only deals with unsecured debt.
What is the Minimum Debt Amount I Can Sign Up With?
Freedom Debt Relief requires a minimum of $7,500 of debt.
About Freedom Debt Relief
Freedom Debt Relief has been in business since 2002. Since then they, along with the other pillars of their company, have been listed as one of Inc. 500’s fastest growing companies in 2008 and 2009. Bills.com was also named the #3 company in the Hot 100 from Entrepreneur magazine. Multiple acquisitions of other companies including Home-Account and Refinance.com have helped the company build up their mortgage refinance tools, mortgage calculators, and other mortgage and refinancing services. After more than a decade in service, they have proven to be a stable company. The founders of FDR are very involved in the financial and personal debt communities. The Association of Settlement Companies (TASC) has a founding member of Freedom Debt Relief on their board.
You will pay 15 to 25 percent of the total debt you enroll.
- Free consultation: Yes; offers free financial assistance
- Personal consultant during the settlement: Yes
- AFCC accredited: Yes
- IAPDA accredited: Yes
Time in Business
Founded in 2002
Minimum Debt Requirement
Must have $7,500 in debt to begin working with Freedom Debt Relief
- New Mexico
- New York
- North Carolina
- North Dakota
- South Dakota