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Freedom Debt Relief Review


ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
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Founded in 2002, Freedom Debt Relief (FDR) is the largest debt negotiator in the nation.

FDR is a member of the Freedom Financial Network and is engaged in helping people find debt relief through its debt resolution services.

The company negotiates with their client’s creditors to resolve outstanding debt. FDR and its partners employ debt resolution and debt settlement strategies. FDR currently has offices located in San Mateo, CA and Phoenix, AZ.

Freedom Debt Relief employs over 1,600 debt settlement professionals, and has served more than 615,000 clients across the United States.
 
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How is Freedom Debt Relief rated?

Breakdown

4.9/5
Reputation
5.0/5
Qualification
5.0/5
Pricing & Fees
4.5/5
Services

Overall Rating: 4.8 / 5 (Excellent)

With over $18 billion in debt resolved since 2002, FDR is an excellent choice for anyone struggling with over $15,000 in debt.

As a founding member of the American Fair Credit Council, they are one of the more reputable services in the industry today. In accordance with the FTC, the company charges no upfront fees, making risk minimal.

The company is also very upfront about the nature of debt settlement as opposed to other debt relief options.

Debt settlement is essentially an option to bankruptcy. In it, you stop paying your creditors and employ Freedom to negotiate on your behalf for a lesser amount than you owe.

Because this will negatively impact your credit, debt settlement is a good idea for those with poor credit, or anyone willing to take the temporary hit to get out of debt fast.

Freedom Debt Relief Services

Services - 4.5 / 5

Freedom Debt Relief provides debt settlement services, which can also go by the name of debt resolution and debt negotiation.

The company is particularly successful as they have been negotiating debt for over a decade and has considerable influence with key creditors.

This is especially important with a debt settlement service as the speed at which they are able to get the creditor to agree to a deal directly affects how long your credit will be affected.

Also, longstanding relationships with creditors are critical as one of the main dangers of debt settlement is when a particular creditor is unwilling to negotiate. Freedom's debt settlement power is unmistakable as the company settles an average of over 50,000 accounts per month totaling over $215 million in debt.

Freedom is also transparent as to the risks of debt settlement as opposed to debt consolidation and credit counseling.
Services Offered
Debt Settlement
Professional Consultation
Estimated Debt Reduction
Program Length
24-48 months
Additional Benefits
Online Management

Qualification

Qualification - 5 / 5

Freedom offers a no-obligation consultation with a debt consultant to see if a given customer qualifies.

Customers must be financially able to make monthly payments into a dedicated FDIC-insured account. This is the money the company will use to negotiate with creditors on your behalf. The monthly payment should be less than you are spending already in debt payment.

Typical of debt settlement programs, Freedom can help you with virtually any kind of unsecured debt. This includes credit cards, medical bills, department store credit cards, personal loans, certain accounts in collection, etc.

The company, however, cannot handle debt that involves collateral, like mortgages and auto loans. What's more, whereas some debt settlement services will take on student loans, Freedom will not.
Minimum Debt Amount
$7,500
Debt Solutions For
Medical Bills
Unsecured Loans
Credit Cards
Excluded Debts: No collateral-based loans (auto loans and mortgages) and no federal student loans.

Pricing: How much does Freedom Debt Relief cost?

Pricing & Fees - 5 / 5

As with all legitimate debt settlement services, Freedom Debt relief charges no up front fees of any kind. This is mandated by the FTC.

What's more, clients of Freedom do not pay any fees whatsoever unless the debt is successfully closed.

So the fee is built into the monthly payment but is only taken by Freedom if they are completely successful. (Fees can vary by state.) Freedom's debt resolution fee is 15-25% of the settled debt. This is standard for debt settlement services.
Up-front Fees?
No

Sample Program

Estimated Savings
$69,550
Estimated Program Length
46 months
Estimated Monthly Payment
$387
* The estimates above were obtained directly from the Freedom Debt Relief online quote tool. Estimates are for an individual living in California with $25,000 in debt. The estimated fees for the above sample program were quoted as: "No upfront fees"

Reputation

Reputation - 4.9 / 5

Despite recent legal action, Freedom Debt Relief has always enjoyed a great reputation among those who have used its service.

In an industry fraught with complaints and misleading sales practices, Freedom Debt Relief has always enjoyed a great reputation among those who have used its service.

On the Better Business Bureau website, Freedom Debt Relief is supported by over ten times more positive reviews than negative.

Additionally, the company has a 9.1 Trustpilot score with 92% of its 20,000 reviews rating the company as excellent or great. Customers praise the company for delivering on its promises, and its attentive and non-judgmental customer service.

Company Details

Number of Accounts Settled
600,000
Amount of Debt Settled
$7,000,000,000

Compliance & Accreditations

AFCC Membership
Accredited Member
IAPDA Accredited
Yes
FTC Compliant
Yes

Online Reviews

Trust Pilot Rating
4.6 out of 5
BBB Rating
A+
Number of BBB Positive Reviews
1,623
Number of BBB Neutral Reviews
38
Number of BBB Negative Reviews
144
Date Collected
2018-04-12

Contact & Additional Information

Homepage URL
https://www.freedomdebtrelief.com/
Headquarters Address
1875 S Grant St., San Mateo, CA, 94402
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Our Partner

Recommended for debts above $20,000

  • Fast & easy online registration with 24/7 customer assistance
  • Free, no-obligation evaluation
  • Low monthly payments with no upfront fees
  • A+ rating from the BBB
  • More than $18 billion in debt resolved
  • Helping people overcome debt since 2002
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