Freedom Debt Relief is a debt settlement company that provides debt relief services to individuals struggling with overwhelming debt. The company was founded in 2002 and has since helped thousands of people across the United States to get out of debt.
How does Freedom Debt Relief work?
Freedom Debt Relief works by negotiating with creditors on behalf of their clients to settle their debts for less than the full amount owed. The company works with unsecured debts such as credit card debt, personal loans, and medical bills. Once a settlement agreement is reached, clients make payments to an account that is set up by Freedom Debt Relief. The funds are then used to pay off the settlement amount.
Is Freedom Debt Relief a legitimate company?
Yes, Freedom Debt Relief is a legitimate company. It is accredited by the Better Business Bureau and has an A+ rating. The company has also received numerous positive reviews from satisfied clients.
What are the benefits of using Freedom Debt Relief?
Using Freedom Debt Relief can provide several benefits, including:
- Lower monthly payments: By negotiating a settlement, clients can often reduce their monthly payments.
- Quick debt resolution: Freedom Debt Relief can help clients resolve their debt in as little as 24-48 months.
- Debt consolidation: The company can help clients consolidate their debts into one manageable monthly payment.
- Professional guidance: Freedom Debt Relief provides clients with professional guidance and support throughout the debt relief process.
What are the drawbacks of using Freedom Debt Relief?
While using Freedom Debt Relief can be beneficial, there are also some potential drawbacks, including:
- Fees: Freedom Debt Relief charges fees for their services, which can add to the overall cost of the debt relief process.
- Credit score impact: Settling debts for less than the full amount owed can have a negative impact on a client’s credit score.
- Tax implications: The amount forgiven in a settlement may be considered taxable income by the IRS.
How do I know if Freedom Debt Relief is right for me?
Freedom Debt Relief may be a good option if you:
- Have unsecured debts such as credit card debt, personal loans, or medical bills.
- Are struggling to make your monthly payments.
- Can afford to make payments into a settlement account.
- Are looking for a professional solution to help you get out of debt.
Freedom Debt Relief is a legitimate debt settlement company that can provide a solution for individuals struggling with overwhelming debt. While there are some potential drawbacks, the benefits of using Freedom Debt Relief can outweigh the costs for some individuals. If you are considering using Freedom Debt Relief, be sure to do your research and speak with a professional to determine if it is the right choice for you.