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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-(855) 403-4319

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
877

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-(855) 403-4319

877 Freedom Debt Relief Reviews

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    Sort By:

  1. User Score
    10
    September 18th, 2018 Sebring, FL
    0 people found this review helpful!
    They always want to go the extra mile, they don’t slack they just press ahead.
    Read More
  2. User Score
    10
    September 18th, 2018 North Little Rock, AR
    0 people found this review helpful!
    They took care of everything for me, my debt was diminished pretty well.
    Read More
  3. User Score
    10
    September 18th, 2018 Omaha, NE
    0 people found this review helpful!
    They’re prompt, professional, and are really good to work with if things get financially tight. They send texts, emails, and sometimes they’ll call me if it’s something more serious or needs my attention.
    Read More
  4. User Score
    8
    September 18th, 2018 South Daytona, FL
    0 people found this review helpful!
    I don’t get any phone calls, I just get emails. I like the dashboard and being able to check and see how things are progressing.
    Read More
  5. User Score
    10
    September 18th, 2018 Eunice, NM
    0 people found this review helpful!
    Everybody has always been very helpful, they’re there for me. I go to the client dashboard, get emails, and can call them for information.
    Read More
  6. User Score
    8
    September 18th, 2018 Queen Creek, AZ
    0 people found this review helpful!
    They showed me exactly what needed to be done to get the ball rolling.
    Read More
  7. User Score
    10
    September 18th, 2018 West Palm Beach, FL
    0 people found this review helpful!
    I’ve never had any issues with anybody, they’ve been completely on top of my debt and helped me take care of it.
    Read More
  8. User Score
    10
    September 18th, 2018 Trotwood, OH
    0 people found this review helpful!
    Every time I call they resolve my questions. I feel 100% satisfied, they’ve helped me all the way.
    Read More
  9. User Score
    10
    September 18th, 2018 Denver, CO
    0 people found this review helpful!
    They always work with me really well and take care of me. They send text messages and I go on my dashboard to stay updated. They’ve done an excellent job with my bills, outstanding service.
    Read More
  10. User Score
    10
    September 18th, 2018 San Antonio, TX
    0 people found this review helpful!
    They’re always available when I call, and they always have the answers I need. They have done a great job at lowering my debt. They’ll call you or you can go check your portal on the website to keep updated.
    Read More
  11. User Score
    10
    September 18th, 2018 Suffolk, VA
    0 people found this review helpful!
    They have been the most helpful each time I call them. They’ve never made me feel stupid, they’re always kind and make me feel like I am important. I get regular emails from them and they ask me to check my dashboard. They’re good at what they do, I’ve had two of my debts paid off already.
    Read More
  12. User Score
    10
    September 18th, 2018 Kissimmee, FL
    0 people found this review helpful!
    The customer service is polite, and they do everything possible to insure me what they can do. They paid my bills and no one harasses me now.
    Read More
  13. User Score
    10
    September 18th, 2018 Lecanto, FL
    0 people found this review helpful!
    Their responses are always in a timely manner and I didn’t have any problems with the program. It all went smoothly.
    Read More
  14. User Score
    10
    September 18th, 2018 Sienna Plant, TX
    0 people found this review helpful!
    They’re responsive and the website is user friendly. You can always reach a person. They are transparent and effective as well. I think it was the best decision I could have made at the time, it’s helped me immensely.
    Read More
  15. User Score
    10
    September 18th, 2018 Gainesville, FL
    0 people found this review helpful!
    They are really accommodating and accessible, I can talk to them anytime.
    Read More
  16. User Score
    10
    September 18th, 2018 Cadiz, KY
    0 people found this review helpful!
    They were very thorough, compassionate, and helpful. They make progress and do a good job.
    Read More
  17. User Score
    10
    September 18th, 2018 Heritage Creek, KY
    0 people found this review helpful!
    Every time I had a question they answered it right away. They are really proactive. Everybody is friendly and helpful.
    Read More
  18. User Score
    10
    September 18th, 2018 Wilmington, NC
    0 people found this review helpful!
    They helped me or sent me information on anything I needed. I’ve been involved with them over a year now and I am comfortable and feel I made the right decision.
    Read More
  19. User Score
    10
    September 18th, 2018 Brooklyn, NY
    0 people found this review helpful!
    Everyone you talk to understands and is respectful. They also give you good feedback.
    Read More
  20. User Score
    10
    September 17th, 2018 Centerburg, OH
    0 people found this review helpful!
    Everybody is helpful, if I have a question then they help explain it to me. They send me emails and I have a dashboard I can look at to see how things are going, it’s very detailed about the process.
    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
877
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
877