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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-(855) 982-1609

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
785

This Review is maintained by

Review Last Updated: April 18, 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 $8 billion of debt through its debt settlement program and helped more than 40,000 customers become debt free. 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 lower fees.

Although this company 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 AFCC and 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 about 900 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 900 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.

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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1-(855) 982-1609

785 Freedom Debt Relief Reviews

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  1. User Score
    10
    April 20th, 2018 Greenwood, IN
    0 people found this review helpful!
    I read about other people’s experiences with them and since everybody seemed quite happy I went with them. I’ve been very happy with them the entire time I’ve used them. Every time I called them, they would answer my questions and solve my problems right away.
    Read More
  2. User Score
    10
    April 20th, 2018 Marion Center, PA
    0 people found this review helpful!
    I’ve been very pleased with them. The people are really friendly and helpful. They are always there when I call. I’ve never had any problems with them. They always work with me and do a good job. I feel wonderful.
    Read More
  3. User Score
    10
    April 20th, 2018 Rainbow City, AL
    0 people found this review helpful!
    I was in a very bad spot and had been out of work for a couple of years, so it was probably one of the best things I have done. I was given a lot of options of how to take care of things and so far, they have taken care of everything. They were there to answer every question I had and they took care of everything that needed to be taken care of. Everyone was very knowledgeable and resourceful. They were able to take care of my debt very quickly.
    Read More
  4. User Score
    10
    April 20th, 2018 Wooster, OH
    0 people found this review helpful!
    They just seemed like the best option at the time, so I went with it. In the two years that I’ve been with them, they have helped me out a great deal. They always answered my questions and were very helpful when dealing with my account. I got text messages and phone calls from them updating me on things. I’ve been quite satisfied with the service.
    Read More
  5. User Score
    10
    April 20th, 2018 Greenville, OH
    0 people found this review helpful!
    I saw it in an advertisement and since they seemed like the best option I went with it. They have done a good job and have helped me a lot. I like them, they treated me right and took care of business rather quickly. There’s nothing they can’t do.
    Read More
  6. User Score
    10
    April 20th, 2018 Arlington, TX
    0 people found this review helpful!
    I went to them to get out of debt. I’ve had a couple of issues but, as soon as I called them, they resolved them. Whenever something happens they send me emails, but I could also check online to look at things.
    Read More
  7. User Score
    10
    April 20th, 2018 DeSoto, TX
    0 people found this review helpful!
    I needed to get out of debt and since I liked their program I went with it. They are constantly in contact with me. Whenever there are settlements they are very good about letting me know and dealing with them. They send me emails and, if I don’t respond in a certain amount of time, they call me instead. I like their professionalism. They seem to know what they are doing and have been getting me out of debt.
    Read More
  8. User Score
    10
    April 20th, 2018 Lawton, OK
    0 people found this review helpful!
    I couldn’t get out of debt on my own, so I went to them. They gave me good service and kept me updated with messages and on their dashboard. They took care of everything.
    Read More
  9. User Score
    10
    April 20th, 2018 Zephyrhills, FL
    0 people found this review helpful!
    I needed help so I went to them. They are prompt and do everything they way they said they will do it. Every time a situation came up, they were very quick and helpful. I feel a lot better now.
    Read More
  10. User Score
    10
    April 20th, 2018 Chandler, AZ
    0 people found this review helpful!
    A few years ago, when I signed up with them, I was in a lot of debt with my credit cards. When I talked to Freedom debt relief they made it sound like a workable plan for me, so I went with it. They do a good job and are very courteous. Every time I’ve gotten in touch with them for anything I always get good answers promptly. I also got periodic emails from them to update me on things.
    Read More
  11. User Score
    10
    April 20th, 2018 Somerset, KY
    0 people found this review helpful!
    I went with them since they were ranked as the best service online. They have answered all my questions and have taken care of what they said they would take care of. They’re pretty trustworthy and what I’m paying is pretty reasonable for the service that I get.
    Read More
  12. User Score
    10
    April 20th, 2018 Vail, AZ
    0 people found this review helpful!
    I went to Freedom Debt Relief because I was tired of making overwhelming monthly payments that got me nowhere. They made it easier for me to pay things back. Every time I called to ask a question, they answered them very easily. I was also kept well informed of what was going on in there. They’re knowledgeable and know what’s going on. The company is just very good at communicating.
    Read More
  13. User Score
    10
    April 20th, 2018 San Jose, CA
    0 people found this review helpful!
    It seemed like I couldn’t get out of debt, no matter how much I paid. That was why I went to Freedom Debt Relief. Every time I called them, they answered my questions well and took care of me. They were just on top of everything and kept me well informed.
    Read More
  14. User Score
    10
    April 20th, 2018 Knoxville, TN
    0 people found this review helpful!
    Every time I’ve called, someone has been able to help me. It was hard when I first got started but now that I’ve been on the program for 18 months it has gotten a lot easier. I’m getting so many more bills paid than what I would’ve been able to do on my own. To let me know about the progress they had made they call me. I can also check that on the internet.
    Read More
  15. User Score
    10
    April 20th, 2018 Cordova, TN
    0 people found this review helpful!
    At that time, they were my best option and they have been a good company to deal with. They are always there to answer my questions and keep me updated through phone calls and emails.
    Read More
  16. User Score
    10
    April 20th, 2018 Vista, CA
    0 people found this review helpful!
    I was in over my head. I couldn’t do house and credit card payments at the same time. Their ad just happened to show up at that time so I gave them a call and started with them. I’m glad I did. They started taking care of me right away. When I had questions I could just call and they would give me an answer. If they didn’t know right then, they would check and give me a call back. I’m very happy with them. Now we’re over halfway done and I’m on the road to not owing any money.
    Read More
  17. User Score
    10
    April 20th, 2018 Mission, TX
    0 people found this review helpful!
    Dealing with them is just stress free and everything has been low cost. They were really good at working with me. They were always there when I called them and I always got me the answers to my questions. I got updates by email and phone calls. Going with them was the best decision I could have made.
    Read More
  18. User Score
    10
    April 20th, 2018 Carmel Hamlet, NY
    0 people found this review helpful!
    When I called them they were very nice about my situation so I decided to go with them. Customer service is really good. They call me up and text me whenever something happens. They’ve gotten me very good deals.
    Read More
  19. User Score
    10
    April 20th, 2018 Menifee, CA
    0 people found this review helpful!
    I had too many credit cards to deal with, so I went to them. At first I wasn’t sure about it but once they started settling debts I knew it was a good decision. They did a good job of calling me and letting me know when anything happened. I would get messages whenever they settled an account. They were actually able to get me out of debt. In the end there was a big difference between the amount that I paid and the amount that I owed.
    Read More
  20. User Score
    10
    April 20th, 2018 Davenport, FL
    0 people found this review helpful!
    Going with them was better than filing for bankruptcy. Every time they paid something off, if there was something that I needed to sign, or something I needed to do, they would let me know. I’m happy I went with them.
    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
785
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
785