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Freedom Debt Relief

Freedom Debt Relief offers debt settlement to those with over $7500 in unsecured debt. Become debt-free in 24-48 months

Our Score
9.0
User Score
9.1

Call for a Consultation:   1-(855) 403-4319

Our Score
9.0
User Score
9.1
Rank this Company

Ratings Breakdown

Price - % of Debt

15-25%

Accreditations

AFCC & IAPDA

Free Consultation

Yes

Min. Debt Accepted

$7,500

Money-Back Guarantee

Yes

Number of Reviews

1,406

This Review is maintained by

Review Last Updated: August 28, 2020

Freedom Debt Relief is one of the largest, most recognized debt settlement companies in the debt relief industry. Since 2002, they’ve worked with over 60,000 people (hablan español) and resolved over $10 billion in debt.

Because they are a large company, they have relationships with many of the most prominent credit card companies and will negotiate with them on your behalf to resolve your debt for less than what you owe. The easiest way for them to do this is to highlight financial hardship (although it is not the only way).

Going through the settlement process with any company will have a negative impact on your credit. However, if the alternative is bankruptcy, debt settlement will have a shorter impact on your credit report. To see exactly how the debt settlement process works, see “What is Debt Settlement?”.

#1 Debt Settlement Company

Freedom Debt Relief is ranked #1 for a reason: over $10 billion in debt settlement so far, a vast range of experience, and a high customer satisfaction rating.

Take a Look

Freedom Debt Relief Cost

Freedom Debt Relief charges an average of 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 24-48 months, which is fairly average within the industry.

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

For example, if you enroll a total of $100,000 in debt and you receive a settlement offer of 50% of the debt, you only have to pay the debtor $50,000. However, Freedom Debt Relief’s payment will be $15,000 – $25,000 in that case.

All told, you can expect to have your $100,000 debt reduced to around $65,000 or $75,000.

Freedom Debt Relief Customer Reviews

Customers agree that Freedom Debt Relief can help those struggling with debt. 

Overall, Freedom Debt Relief reviews 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 to settle debts.

Freedom Debt Relief is the largest debt settlement company in the country for a reason: customers are happy with the work they do and the money they save.

Is Freedom Debt Relief a Good Company?

Yes, Freedom Debt Relief is a very good debt settlement company — and customers agree that Freedom Debt Relief is a good company. 

In fact, from the general consensus of its customers compared to that of every other debt settlement company, Freedom is the best debt settlement company around.

Freedom Debt Relief Experience

Freedom Debt Relief was founded in 2002 by Bradford Stroh and Andrew Housser and is currently headquartered in San Mateo, California.

The company is currently one of the largest debt settlement companies in the industry, which is important, because to debtors, brand name recognition is important.

The company employs over 2,000 people and started the Freedom Financial Network.

  About Freedom Debt Relief
How much money can I enroll? $7,500 - $100,000 of unsecured debts
How long will it take? 24 to 48 months
What are the upfront fees? No upfront fees
How much will it cost? 15% - 25% of the debt you enroll (paid after settlements)
How will I save? Varies
Consumer Rating 9/10

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.

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.

Expertise

Freedom Debt Relief is a founding member of the AFCC (American Fair Credit Council).

The company promotes and regulates legislation designed to ensure strict industry regulations on behalf of the customer.

To date, Freedom Debt Relief has settled over $10 billion worth of debt.

Freedom Debt Relief Service Quality

Freedom Debt Relief helps customers with debt of $7,500+ to settle their accounts with debtors in 24 to 48 months.

It’s a long, strenuous process to settle your debt, so Freedom Debt Relief makes a point to carry as much of the burden as possible, while still looping the customer into the process. 

Money-Back Guarantee

Freedom Debt Relief ensures their services with a money-back guarantee to ease any concerns clients might have about the quality of its services.

Consultation with Tax Debt Agent

Also available is a free consultation and no upfront fees.

Find the Best Solution

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 improve their financial situation and decide on a debt repayment plan.

Customized Plan

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.

Freedom Debt Relief Debt Types

There are two types of debt that debt relief companies can choose to work with: unsecured and secure debt.

The difference between the two is that unsecured debt has no collateral backing, such as an asset that can be sold to recover a loss. This means that secured debt is the type of debt that you put up collateral for in order to obtain.

Unfortunately, Freedom Debt Relief only works with both unsecured debt and secured debt.

Works with: Unsecured Debt

  • Credit card debt
  • Medical debt
  • Household bills
  • Some private student loans

Does Not Work with: Secured Debt

  • Mortgages
  • Auto loans
  • Some personal loans

Our Recommendation

Freedom Debt Relief is the best company in the Debt Settlement industry.

Though very different from credit counseling, debt settlement may be the answer for some people. The three things that make FDR worth hiring are: 1) price lock guarantee, 2) $0 upfront fee, and 3) the lifetime warranty.

Freedom is a good solution.

The question you should be asking yourself is whether a debt relief program will be better than bankruptcy in your specific case.

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 and creditor negotiation.

Those in debt need to realize that working with any debt settlement company will have a negative impact on your credit.

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 $7,500 in debt and live within their service area, we recommend Freedom Debt Relief. Find out if they can help with your debt in a free consultation: 1-(855) 403-4319

Going through the settlement process with any company will have a negative impact on your credit. However, if the alternative is bankruptcy, debt settlement will have a shorter impact on your credit report. To see exactly how the debt settlement process works, see “What is Debt Settlement?”.

#1 Debt Settlement Company

Freedom Debt Relief is ranked #1 for a reason: over $10 billion in debt settlement so far, a vast range of experience, and a high customer satisfaction rating.

Take a Look


What is Debt Settlement?

There are many types of debt relief people can sign up for: Debt management plan, debt consolidation, debt settlement, bankruptcy, or trying to lower your debt on your own.

Debt settlement is when you pay a company, like Freedom Debt Relief, to negotiate with your creditors: your credit card companies, private student loan company, medical bill collectors, etc.

This option is for those who are barely keeping up with their minimum payments, or who are falling behind.

Your debt settlement company will settle your account with these creditors at a fraction of what you actually owe – so no more interest and now more trying to keep up with minimum payments.

Here is a very simplified step-by-step outline of the process:

  1. Sign up with a debt settlement company. You don’t pay them until a debt is settled.
  2. Stop making payments on your credit cards or to other creditors.
  3. Start saving as much as you can in a separate savings account in order to pay one lump sum to each creditor.
  4. After some time, your debt settlement company negotiates with each creditor to take a lower sum than what is owed. For example, if you owe $10,000 on your AMEX, your debt settlement company may be able to negotiate a settlement of $5,000 to $8,000. Visit Freedom Debt Relief’s website and see what they can do for you.
  5. Your debt settlement company will repeat this process with each creditor until you are debt-free.

Debt Settlement vs Debt Consolidation

For a full description of debt settlement, please read, “What is Debt Settlement?” above.

Debt consolidation is any process where you combine debts from multiple creditors and pay off debt at a reduced interest rate.

Doing so gives you a lower monthly payment, which shortens the time it takes to pay back your debts and reach financial freedom.

This can be done with a debt consolidation company, personal loan, or 0% balance transfer credit card.

With debt consolidation, you pay back the full amount you owe and typically see a positive or neutral effect on your credit.

With debt settlement, you or a debt relief company come to an agreement with your creditors to only pay back a fraction of what you owe.

The process will hurt your credit.

Debt Settlement vs Personal Loan

First, debt settlement programs are not a loan.

Settlement companies will reach a debt resolution with your creditors and you will be responsible for paying each creditor back in a lump sum.

A personal or consolidation loan can be taken out to immediately pay back each of creditors and settle your debt.

You would then make payments on to your personal loan company instead of making payments to each creditor.

Usually, the interest rate on a personal loan is lower than the interest rate owed on credit cards.

Debt Settlement vs Bankruptcy

Out of all the debt relief services offered, bankruptcy provides the most debt reduction and will damage your credit the most – and stay with your credit history for 10 years.

When you file for bankruptcy, you will go to federal court where a judge will determine if you can pay back your creditors or not (and if so, how much).

Debt settlement can usually be handled outside of court (typically with a lawyer or company). It is a negotiation reached between you and your creditors to pay less than what you owe.

It negatively impacts your credit history for 7 years.


Questions About Freedom Debt Relief

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 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 Debt Settlement Hurt My Credit Score?

Yes, signing up for any debt settlement plan will have a negative effect on your credit score because you will become delinquent on your accounts. However, never being able to pay off thousands in debt will also have a negative impact on your credit score, albeit much less. The goal of debt settlement is to get rid of your debt and give you a chance to rebuild your credit score and future financial path.

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 deals with unsecured debt (credit cards, medical bills, household bills, some private student loans, etc). They cannot settle secured debt (mortgages, auto loans, some personal loans, etc).

Does Freedom Debt Relief Have a Mobile App?

Freedom Debt Relief does not have 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.

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.

What is the Minimum Debt They Accept?

$7,500

Is Freedom Debt Relief Accredited?

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) 403-4319

1,406 Freedom Debt Relief Reviews

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    Sort By:

  1. User Score
    10
    January 28th, 2020 Philadelphia, PA
    0 people found this review helpful!
    Very informative,excellent and efficient.
    Read More
  2. User Score
    10
    January 28th, 2020 Bartonsville, PA
    1 people found this review helpful!
    Good company they do what they say there going to do.
    Read More
  3. User Score
    10
    January 28th, 2020 Township of Codorus, PA
    0 people found this review helpful!
    As long as you are keeping in contact with the, for any reaso, they try to work with you.
    Read More
  4. User Score
    10
    January 28th, 2020 Smethport, PA
    0 people found this review helpful!
    our Experience is positive they worked getting most of are accounts paid another year and we will finally have everything paid off
    Read More
  5. User Score
    10
    January 28th, 2020 Avoca, NY
    0 people found this review helpful!
    They made sure i understood their program.They speak in simple terms and answer all your questions.
    Read More
  6. User Score
    10
    January 28th, 2020 Port Crane, NY
    1 people found this review helpful!
    They have helped me out wonderful , but wish they had a loan to just pay off and you make payment instead of the way it’s done , But it’s the way it is thank you!!
    Read More
  7. User Score
    10
    January 28th, 2020 Keeseville, NY
    0 people found this review helpful!
    The Agents are helpful when you need help. They take care of it!
    Read More
  8. User Score
    8
    January 28th, 2020 Stuyvesant Plaza, NY
    0 people found this review helpful!
    informative and helping with eliminating my credit cards
    Read More
  9. User Score
    10
    January 28th, 2020 Lake Grove, NY
    0 people found this review helpful!
    Very good experience- made getting out of debt very easy to understand and great customer service!
    Read More
  10. User Score
    8
    January 28th, 2020 Brooklyn, NY
    0 people found this review helpful!
    So far it’s been good ,in the beginning I was a little scared but as time passed by I got the opportunity to trust the people that I’ve placed my life situation I to their hands .Thank you Freedom for all the help you have been doing for me
    Read More
  11. User Score
    10
    January 28th, 2020 Haverstraw, NY
    1 people found this review helpful!
    Exellent costumer service, they answer all my qustions fast and help me understand the process
    Read More
  12. User Score
    10
    January 28th, 2020 Westport, MA
    1 people found this review helpful!
    Very professional,they are always willing to help,positive with me at a difficult time .
    Read More
  13. User Score
    8
    January 22nd, 2020 Memphis, TN
    1 people found this review helpful!
    My husband had cancer and went through different surgeries and stuff and I was trying to pay off my bills and I looked them up on the internet and they seemed pretty legit. The settlements went well, I only had problems with one company.
    Read More
  14. User Score
    10
    January 22nd, 2020 Jamaica, NY
    0 people found this review helpful!
    This is the best place for somebody to go to. They’re actually very good and take care of everything. It’s fast.
    Read More
  15. User Score
    10
    January 22nd, 2020 Ellwood City, PA
    0 people found this review helpful!
    Never had to do this before but I was laid off at the end of October and I was able to work with freedom to reduce the payment. They are helping me get out of debt.
    Read More
  16. User Score
    8
    January 22nd, 2020 Jacksonville, FL
    0 people found this review helpful!
    I’m in a happy place and I wasn’t here before. I need some help because I had gotten myself in a bind and it was more money going out than was coming in. They were very kind and made sure I understand what I was facing without scaring me away. They were looking out for my best interests and they made me feel comfortable. Any time I had a questions, I was able to speak to a person that was designated to help me in a timely manner.
    Read More
  17. User Score
    10
    January 22nd, 2020 Mentone, AL
    1 people found this review helpful!
    We’re pretty anxious to get it finished up. They keep us pretty well updated. It has helped s not having bill collectors.
    Read More
  18. User Score
    10
    January 22nd, 2020 Oliver Springs, TN
    1 people found this review helpful!
    They’re working on problems for me and they seem to be doing what needs to get done. They’ve always answered my questions to satisfy the requirements I had.
    Read More
  19. User Score
    10
    January 22nd, 2020 Tucson, AZ
    0 people found this review helpful!
    I feel very good about using freedom, I even use their sister company and paid off the balance on my credit cards and only have one charge to pay off. I am not getting any more calls from creditors.
    Read More
  20. User Score
    10
    January 22nd, 2020 Charlotte, NC
    0 people found this review helpful!
    It’s well worth the money. I needed to increase my credit and get things taken care of and it’s a great program. They have great customer service. I appreciate the time it takes to put in the effort that they put in to make sure everything is working all right. They are always there checking in on me. It has given me peace of mind.
    Read More
  • 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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Our Score
9.0
User Score
9.1
Rank this Company

Ratings Breakdown

Price - % of Debt

15-25%

Accreditations

AFCC & IAPDA

Free Consultation

Yes

Min. Debt Accepted

$7,500

Money-Back Guarantee

Yes

Number of Reviews

1,406
Our Score
9.0
User Score
9.1
Rank this Company

Ratings Breakdown

Price - % of Debt

15-25%

Accreditations

AFCC & IAPDA

Free Consultation

Yes

Min. Debt Accepted

$7,500

Money-Back Guarantee

Yes

Number of Reviews

1,406