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Freedom Debt Relief Reviews: A Comprehensive Look at the Company’s Services and Customer Feedback
If you are drowning in debt, you are not alone. According to recent statistics, the average American household carries around $140,000 in debt. High levels of debt can cause stress, anxiety, and a host of other health issues. Fortunately, there are debt relief companies that can help. One of the most prominent names in this industry is Freedom Debt Relief. This article takes a look at Freedom Debt Relief Reviews and provides an overview of the company’s services.
Overview of Freedom Debt Relief
Freedom Debt Relief was founded in 2002 by Brad Stroh and Andrew Housser. Since then, the company has helped over 750,000 clients settle their debts. The company has an A+ rating from the Better Business Bureau and has been accredited since 2004. Freedom Debt Relief has also received numerous industry awards, including being named the #1 Best Place to Work in Phoenix by the Phoenix Business Journal.
The company offers a range of debt relief services, including debt settlement, debt consolidation, and credit counseling. Freedom Debt Relief’s main focus is on debt settlement, which involves negotiating with creditors to settle debts for less than the full amount owed. The company works with a network of attorneys, debt negotiators, and paralegals to negotiate settlements on behalf of their clients.
How Does Freedom Debt Relief Work?
Freedom Debt Relief works by negotiating with credit card companies and other lenders on behalf of their clients. Here is a breakdown of how the process works:
1. Initial consultation: The first step in the debt relief process is an initial consultation. During this consultation, a Freedom Debt Relief representative will review your debts and financial situation.
2. Savings plan: If Freedom Debt Relief determines that debt settlement is a viable option, they will create a savings plan for you. This plan will outline how much money you need to save each month to fund the settlement process.
3. Negotiation: Once you have enough savings, Freedom Debt Relief will begin negotiating with your creditors. The goal is to settle your debts for less than the full amount owed.
4. Settlement: If Freedom Debt Relief is successful in negotiating a settlement, you will pay the settlement amount to the creditor. This will satisfy the debt and it will be considered paid in full.
5. Fees: Freedom Debt Relief charges a fee for their services, which is typically a percentage of the amount saved through debt settlement.
Pros and Cons of Using Freedom Debt Relief
Like any financial service, Freedom Debt Relief has its pros and cons. Here are some of the biggest advantages and disadvantages of using this company:
Pros:
– Freedom Debt Relief has a proven track record of helping clients settle their debts.
– The company offers a range of debt relief services, including debt settlement, debt consolidation, and credit counseling.
– Freedom Debt Relief has an A+ rating from the Better Business Bureau.
– The company has received numerous industry awards and accolades.
Cons:
– Debt settlement can have a negative impact on your credit score.
– The debt settlement process can take several years to complete.
– Not all debts are eligible for settlement, and some creditors may not be willing to negotiate.
– Freedom Debt Relief charges a fee for their services, which can be significant.
Freedom Debt Relief Reviews: What Are Customers Saying?
One of the best ways to gauge the effectiveness of a debt relief company is to look at customer reviews. Here is a summary of what customers are saying about Freedom Debt Relief:
Positive reviews:
– Many customers praise the company for helping them settle their debts.
– Customers appreciate the professionalism and responsiveness of the company’s representatives.
– Freedom Debt Relief’s user-friendly website is also a point of praise among customers.
Negative reviews:
– Some customers have reported negative experiences with the company’s customer service.
– A few customers have reported that they were not able to settle all of their debts through the company.
– A common complaint among customers is the high fees charged by Freedom Debt Relief.
Freedom Debt Relief FAQs
Q: How much does Freedom Debt Relief charge for their services?
A: Freedom Debt Relief charges fees that are based on the amount saved through debt settlement. According to the company’s website, fees can range from 15% to 25% of the total debt enrolled.
Q: Will debt settlement affect my credit score?
A: Debt settlement can have a negative impact on your credit score. When a debt is settled, it is reported as “settled for less than the full amount owed” on your credit report. This can lower your credit score.
Q: How long does debt settlement take?
A: The debt settlement process can take several years to complete, depending on the amount of debt and the creditors involved.
Q: Can all debts be settled through Freedom Debt Relief?
A: Not all debts are eligible for settlement, and some creditors may not be willing to negotiate. Examples of debts that may not be eligible for settlement include government-backed student loans, alimony, and child support.
Conclusion
Freedom Debt Relief is a well-respected debt relief company that has helped hundreds of thousands of clients settle their debts. While debt settlement can have negative repercussions on your credit score, it can be a viable option for those who are drowning in debt. Ultimately, the decision to use a debt relief company like Freedom Debt Relief is up to each individual’s unique financial situation. By reviewing customer feedback and consulting with financial experts, individuals can make an informed decision about whether or not to use Freedom Debt Relief’s services.
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Article Summary:
Freedom Debt Relief is a debt relief company that offers debt settlement, debt consolidation, and credit counseling services. Founded in 2002, the company has helped over 750,000 clients settle their debts and has received an A+ rating from the Better Business Bureau. Freedom Debt Relief creates a savings plan for clients, negotiates with creditors on their behalf, and charges a fee for their services. While debt settlement can negatively impact one’s credit score, the company’s positive customer reviews and industry awards indicate its effectiveness in helping clients reduce their debt.
