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#1
Freedom_Debt_Relief

Freedom Debt Relief

Ideal Customer: over $15,000 in debt

Our Score
9.1
User Score
9.0

Call For Free Consultation:   1-(866) 892-5514

Our Score
9.1
User Score
9.0
Rank this Company

Ratings Breakdown

Price

% of total debt
15-25%

Accreditations

AFCC or IAPDA
AFCC & IAPDA

Free Consultation

is one included?
Yes

Time in Business

total # of years
15 Years

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
841

This Review is maintained by

Review Last Updated: July 5, 2018

Freedom Debt Relief was founded in 2002 by Stanford Business School graduates Andrew Housser and Brad Stroh. They noticed that there were no debt settlement companies or debt settlement programs that were consumer-friendly. Their mission was, and continues to be, to “provide financial solutions, services, and education that enable people to reduce debt, build wealth, and achieve financial freedom.”

Since its founding, Freedom Debt Relief has resolved over $9 billion of debt through its debt settlement program and helps more than 40,000 customers become debt free each month. The company claims that because of their size, creditors and debt collection agencies take them seriously and they use their influence to negotiate more significant savings and a lower monthly payment.

Although Freedom Debt Relief requires clients to have at least $7,500 in debt to qualify for debt settlement, it brings a tremendous amount of experience and customer satisfaction to the table. With potentially low monthly payments and excellent services, Freedom Debt Relief is one of the best debt settlement companies out there. The company has almost 900 employees that help consumers select the right form of debt relief (whether it’s debt settlement, debt consolidation, or bankruptcy).

Ideal Candidate:
An ideal candidate for Freedom Debt Relief has:

  • Over $7,500 worth of unsecured debt

Read our expert review to learn more about this debt settlement company, or scroll down and browse hundreds of Freedom Debt Relief reviews from consumers to see why we give Freedom Debt Relief an 8.8/10.

The Good

Freedom Debt Relief Highlights
  • Only pay once you receive a debt settlement
  • The company has been In business since 2002
  • Settlement service only requires you to settle a minimum of $15k
  • The company offers a credit counseling service
Great Industry Experience and Accreditations

With senior executives sitting on the American Fair Credit Council, it should come as no surprise that the company holds major industry accreditations, including being a founding member of the AFCC as well as accreditation by IAPDA, which means the debt settlement company abides by industry best practices and ethics. Freedom Debt Relief has been helping people with debt settlement since 2002 and is one of the more experienced companies in the debt settlement industry.

As we mentioned in our the introduction, Freedom Debt Relief employs over 2,000 people. There are only about a dozen debt settlement companies that employ anywhere close to this many people. The fact that Freedom Debt Relief employs over 2,000 people speaks to their resources and effectiveness.

Excellent Services

Freedom Debt Relief ensures their services with a money-back guarantee to ease any concerns clients might have about the quality of its services. Also available is a free consultation, no upfront fees, and one debt consultant throughout the debt settlement program.

The goal of Freedom Debt Relief as stated on their website is to, “Ensure people have all the information they need to make informed choices about solving their debt problems — even if the choice they make isn’t Freedom Debt Relief.” This promise from the company should give consumers confidence as they approach Freedom Debt Relief to either to eliminate credit card debt or to improve their financial situation.

Each person who works with Freedom Debt Relief will get a customized debt management plan that fits their budget. The company’s goal is to relieve all debt in 24-48 months. This timeframe is standard in the debt settlement industry.

Potentially Low Prices

Unlike other debt settlement companies that charge fees before settling any debts, Freedom Debt Relief doesn’t charge any fees until the debt negotiation is over and they obtain a settlement offer.

Freedom Debt Relief charges 15-25% of the total debt enrolled as a fee for their services, which is reasonably priced when compared to the fees of other companies. Clients are provided with a 24/7 online debt management dashboard to help them towards the goal of resolving their debt in between 24-48 months, which is fairly average within the industry. The average debt reduction is 50% which can potentially save customers significantly. While the reduction is compelling, potential customers have to remember that they will also be paying the 15-25% debt enrolled fee. Most customers are averaging at about 30% of total savings on their debts after paying total debts and fees.

Positive Freedom Debt Relief Reviews

Overall, clients of Freedom Debt Relief seem to report satisfaction with the courteous, encouraging, and professional customer service they’ve received from the debt settlement firm and express appreciation that there is no upfront fee charged for the debt settlement service.

Get started with Freedom Debt Relief

The Bad

Limited Availability

The company isn’t able to provide a truly national debt relief solution, as it is only available in 33 states and Washington D.C. The states the company does not service include CT, GA, HI, IL, KS, ME, MS, NH, NJ, ND, OR, RI, SC, VT, WA, WV, OH, and WY. Those in debt cannot sign up for freedom debt unless they plan to settle at least $15,000 in unsecured debt.

Potentially High Prices

Hiring Freedom Debt Relief as your debt settlement solution may end up costing about 25% of the total debt that you enroll. While it could be as low as 15% (an excellent price), it is somewhat concerning that the fees could be higher. While working with Freedom Debt Relief can help customers out of debt, it also can potentially hurt consumers’ credit ratings. We recommend getting a quote from the company before you begin.

Negative Customer Reviews

Some consumers have expressed dissatisfaction with the length of time it takes to forgive the debt, but this is often an indication of a client’s inability to pay more quickly and a large amount of money owed to the original creditor.

The Bottom Line

Freedom Debt Relief has a reputation for professional conduct and high levels of customer satisfaction. The company holds all major industry accreditations and has over a decade of experience settling unsecured debts. Our only concern with Freedom Debt Relief is that consumers may be able to find a company with a debt settlement service that has lower fees. If you owe over $15,000 in debt and live within their service area, we recommend Freedom Debt Relief.

Contact Information

Website: freedomdebtrelief.com
Email: Contact Form
Address:1875 South Grant Street, Suite 400 San Mateo, CA 94402
Freedom Debt Relief Hours: Monday-Friday 5 AM – 8:30 PM PST; Saturday 9 AM – 1 PM
*You can also call and leave a message with Freedom Debt Relief at any time

How Much Does Freedom Debt Relief Cost?

Price varies depending on various features. The main features taken into account are 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 15-25% 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 6-8% 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

Are There Any Up-Front Fees?

No. Any debt settlement company charging up-front fees is not acting in accordance with the law. Under the Federal Trade Commission Act, no company is to practice up-front fees as of 2010.

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 you divulging too many specific, they can give you the most effective help when you give them more specific information. The consultation in no risk and you won’t be locked into anything by calling.

Does Freedom Debt Relief Offer A Money-Back Guarantee?

Yes. Any money deposited into the trust account will go directly back to the client, minus the monthly fees charged. These fees will be determined once the applicant qualifies for the program and total debt is assessed.

What Types of Debt Does Freedom Debt Relief Work With?

Freedom Debt Relief only deals with unsecured debt.

Time in Business

13 years. 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.

Debt Education

The debt education offering from FDR is excellent. They are a part of Freedom Financial Network which also owns Bills.com. Bills.com offers a great tool called the Debt Coach, which is an effective way of determining your best path to getting out of debt. They also offer videos, blog articles and resource pages to help individuals learn more about debt and how to get rid of it.

Freedom’s broad network allows them to serve customers education need incredibly well.

 

Mobile Friendly

Their website is not responsive on mobile and they do not offer a mobile app. Their desktop site is helpful and easy to navigate, but you won’t be able to navigate as easily on your phone.

Contact Information

They offer multiple options for communicating with them.

Phone Number:  1-(855) 242-5275

Email Address: [email protected]

Address:  1875 S Grant St., Suite 400 San Mateo, CA 94402-2676

Services Provided

Freedom Debt Relief provides debt settlement & consolidation services.

Minimum Debt Accepted

$15,000

Online Dashboard

Freedom Debt offers clients online access where you cannot only check on your debt settlement account at any time, but you can contact them through it as well. The representative we spoke with indicated that they are available 24 hours a day, 7 days a week.

Accreditations

Yes, this business is AFCC  and IAPDA accredited.

Are there any inaccuracies in this review? We take our accuracy very seriously and would love your feedback. Give feedback here.

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Call our recommended rep over at Freedom Debt Relief below.

1-(866) 892-5514

841 Freedom Debt Relief Reviews

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  1. User Score
    9
    July 14th, 2018
    0 people found this review helpful!
    Great customer service. Just started and seems they honest and in helping people in debt trouble. Hope to be in good shape debt wise in the future.
    Read More
  2. User Score
    6
    June 28th, 2018 Indianapolis, IN
    2 people found this review helpful!
    The people at FDR are really really nice. I got signed up really easy and fast and I felt really good after I did it. I felt a relief. As time went on though, I expected things to happen faster than they did. Four months after I got signed up, I was still getting mass phone calls from creditors. It was so bad, that I turned off my ringer and literally never answered my phone. I missed calls from family and friends and doctors and my daughter’s school, everything because I didn’t even know they were calling. It wasn’t until 6 months after I signed up, that FDR contacted me with an offer on one of my cards. It was too late though. I had already talked to a bankruptcy attorney and decided to go a different route with my debt. I decided to cancel FDR and file chapter 13 instead. The attorney told me my credit score would not be any worse with bankruptcy than it would’ve been with debt relief. Plus, (and FDR never told me this).. I would have to pay taxes on any amount left over after they settled a debt. For example if you owe $4000 on a credit card and FDR gets a settlement of $2000, you’ll have to pay taxes on $2000. With chapter 13, you do not pay taxes on debts that are discharged. I guess for some people, debt relief is good. For me, it didn’t work out.
    Read More
  3. User Score
    10
    June 17th, 2018 Durham, NC
    0 people found this review helpful!
    Freedom Debt Relief returned all my money to me when I decided not to go forward. You can trust this company! I was worried but no worries here now. They are honest…not an easy thing to find these days.
    Read More
  4. User Score
    1
    June 11th, 2018
    2 people found this review helpful!
    I was charged up front and they charge their fees first 25% per account which I was not told by anyone. They only informed me of monthly fee of $22. A month. They never called me instead I got calls from my creditors everyday. They are not trust worthy in my book.
    Read More
  5. User Score
    10
    May 25th, 2018 Northampton, MA
    0 people found this review helpful!
    Due to personal circumstances, I had to withdraw from this program. My experience with them has been superb to say the least. Their CUstomer Service people are very understanding, and compassionate. Their contacts are also above what I could ever expect. Once my situation is taken care of, … I’ll come back to “Freedom Debt Relief”, as they have earned my trust in a very short period of time. I just wish they could handle the “IRS” !
    Read More
  6. User Score
    10
    May 23rd, 2018 Lakeland, FL
    0 people found this review helpful!
    Everything was explained and executed in a timely manner.
    Read More
  7. User Score
    10
    May 23rd, 2018 Onalaska, TX
    0 people found this review helpful!
    Very personable, perfessional and explain all the detail of process.
    Read More
  8. User Score
    2
    May 23rd, 2018 Brunswick, OH
    0 people found this review helpful!
    No one bothered to contact me at all regarding my requests
    Read More
  9. User Score
    10
    May 23rd, 2018 Woodburn, IN
    0 people found this review helpful!
    Great service, friendly and patient staff who answer all my questions
    Read More
  10. User Score
    10
    May 23rd, 2018 San Antonio, TX
    0 people found this review helpful!
    Because of the highest level of customer service provided
    Read More
  11. User Score
    2
    May 16th, 2018 Pompano Beach, FL
    1 people found this review helpful!
    People are looking for a lender, not another company BS’ing with 050PMyour information.
    Read More
  12. User Score
    10
    May 16th, 2018 Detroit, MI
    0 people found this review helpful!
    They are a very Professional Company, and everything about the way they conduct business with you shows this. They know exactly what it will take to help you get free of your debt. I like how they consult with you first. Then how they walk you thru the whole process upfront. I like that they explain exactly what you will need to know, what you need to do, and how to go about getting it done. They explain the possible interactions with your creditors, and what to do if any problems arise…I can go on and on! Even though you may be a little uneasy or skeptical at first (like me!), they help put you at ease. I have really just begun my journey with Freedom Debt, but, I do believe ive made the right decision.
    Read More
  13. User Score
    10
    May 16th, 2018 Auburn, NY
    0 people found this review helpful!
    They are very dedicated in their mission to help
    Read More
  14. User Score
    2
    May 16th, 2018 Visalia, CA
    3 people found this review helpful!
    I was lied to and found out after. 3 days I could no longer exit the program . I dont like dealing with liars
    Read More
  15. User Score
    10
    May 16th, 2018 Decatur, IN
    0 people found this review helpful!
    There customer service is second to none. There the best!
    Read More
  16. User Score
    10
    May 16th, 2018 Phoenix, AZ
    0 people found this review helpful!
    I have found the FDR team to be ethical, helpful and fully engaged
    Read More
  17. User Score
    8
    May 16th, 2018 San Diego, CA 
    0 people found this review helpful!
    Its been an easy transition. So far everyone has been extremely helpful and thorough in explaining all of my options. My representative is very quick to get me answers and make sure that I feel comfortable.
    Read More
  18. User Score
    1
    May 14th, 2018 Deerfield Beach, FL
    2 people found this review helpful!
    Don trust this company. They are not it to help you with your debt. They are making it worse for you. Inasmuch, you could deal with the creditors directly. they are no good. Scam!
    Read More
  19. User Score
    10
    May 11th, 2018 Mt Gilead, OH
    0 people found this review helpful!
    Been great. Patient and understanding. Always there for you if you have a questiom
    Read More
  20. User Score
    10
    May 11th, 2018 Bronx, NY
    0 people found this review helpful!
    They have given me the freedom to pay my bills without constant worry every monht it’s a reasonable monhtly amount
    Read More

Poll

  • When looking for a debt settlement company, which of these two aspects is most important to you?
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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Step 1: Introduction

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Our Score
9.1
User Score
9.0
Rank this Company

Ratings Breakdown

Price

% of total debt
15-25%

Accreditations

AFCC or IAPDA
AFCC & IAPDA

Free Consultation

is one included?
Yes

Time in Business

total # of years
15 Years

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
841
Our Score
9.1
User Score
9.0
Rank this Company

Ratings Breakdown

Price

% of total debt
15-25%

Accreditations

AFCC or IAPDA
AFCC & IAPDA

Free Consultation

is one included?
Yes

Time in Business

total # of years
15 Years

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
841