![]() Savings account: As the customer makes payments, the funds are deposited into a savings account.Customers make monthly payments into an account that is managed by Freedom Debt Relief. Customized payment plan: If the customer decides to enroll in FDR’s program, the company will create a customized payment plan that fits their budget.Free consultation: Customers can schedule a free consultation with Freedom to discuss their financial situation and determine if debt settlement is the right solution for them.How does Freedom Debt Relief work?įreedom Debt Relief works by negotiating with creditors on behalf of its customers to settle their debts for less than the full amount owed. The company has helped hundreds of thousands of customers resolve their debts and has an A+ rating from the Better Business Bureau.įreedom Debt recently settled a $25 million lawsuit with the CFPB and a $3.6 million lawsuit with the New York Attorney General. While using Freedom Debt Relief can have a negative impact on a customer’s credit score, it can also help them become debt-free in a shorter amount of time than if they continued making minimum payments on their own. It is also recommended to research other debt-relief options and consult with a financial advisor to determine the best path for your individual circumstances. It is important to consider these pros and cons before deciding if Freedom Debt Relief is the right debt relief solution for you. Long-term impact: Using debt settlement services like FDR can have long-term consequences on your credit score and financial stability, and it may take several years to fully recover from the impact.No guarantee of settlement: There is no guarantee that FDR will be able to settle all of your debts, and you may still be responsible for paying off some of your debts on your own.Not a solution for all types of debt: It only works with unsecured debts, such as credit cards and personal loans, and does not work with secured debts, such as mortgages or car loans.Credit score impact: Using them can have a negative impact on your credit score, as missed payments and settled debts can be reported to credit bureaus.Fees: While Freedom does not charge any upfront fees, they do charge a percentage of the total debt enrolled, which can be up to 25%.Experienced company: The company has been in business for over 18 years and has helped hundreds of thousands of customers. ![]() BBB Accreditation: FDR is accredited by the Better Business Bureau and has an A+ rating.No upfront fees: FDR does not charge any upfront fees, and you only pay if they successfully settle your debts.Customized payment plan: The company creates a personalized payment plan that fits your budget and helps you pay off your debts over time.Professional negotiation: FDR has a team of professionals who negotiate with creditors on your behalf to reduce the amount of debt you owe.Here are some pros and cons of using Freedom Debt Relief: Pros: ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |