Freedom Debt Relief Review & Debt Tips

Is Freedom Debt Relief a good option for debt relief? Can you do a review of Freedom Debt Relief for me for my debt troubles?

Is Freedom Debt Relief a good option for debt relief? Can you please do a review of Freedom Debt Relief for me to determine if they are the BEST debt relief option for me? Their are a lot of debt relief scam companies out there and I want to be sure that Freedom Debt is a reputable and good debt relief company for my credit card debt problems.

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Bill's Answer
4.5
/5.0
(22 Votes)
Bills.com Team
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Highlights


  • Freedom Debt Relief is a leader in debt settlement.
  • Freedom Debt has resolved over $1 billion in debt, the most of any debt resolution company.
  • Debt settlement is not for everyone. Learn what debt relief solution you need and then pick the best debt relief provider.

The Bills.com staff researched Freedom Debt Relief and reviewed information on the company and on its debt resolution strategies. We give Freedom a thumbs up.

Yes, appears to be a good option if you seek debt resolution or negotiated debt settlement. They are not a scam and have helped tens of thousands of clients resolve thousands of dollars in debt through debt settlement. The company is a leader in size and in quality, and is a good fit if you qualify for Freedom Debt Relief’s solution. Bills.com offers a that outlines your debt relief options, if you want to see more information on Freedom Debt Relief.

I will also share some of the basic homework and the facts, but be sure to pick the solution that is right for you:

  1. Freedom Debt Relief appears to be one of the largest debt resolution firms in the country, settling more than $100 million in client debts per year and managing over a billion in consumer debt (making the company one of the largest).
  2. The founders of the company are Stanford Business School alumni with impressive backgrounds in the financial services industry.
  3. One of the founders of Freedom Debt Relief is on the executive board of (AFCC).  The AFCC was formerly TASC, The Association of Settlement Companies. The AFCC is the leading debt settlement industry trade group. The AFCC has a strict for its members that demands transparent and accurate communication with clients as well as full disclosure of the risk and benefits of debt settlement. Freedom Debt Relief is very active in setting regulations and standards in the industry to protect consumers.
  4. Freedom Debt Relief has won many awards (Best Places to Work in Phoenix, Best Places to Work in San Francisco, Entrepreneurs of the Year from Ernst & Young, Fast 100 list by Entrepreneur Magazine, Inc. 500, and others).
  5. Freedom Debt Relief’s debt consultants are IAPDA certified. The company is one of the few to be AFCC and BSI-certified for excellent customer relationships.
  6. The company looks solid and credible, having been around long enough to serve thousands of graduates and to have developed efficient systems and business procedures.
  7. Freedom Debt Relief has been in business for over a decade, so you have confidence that it has stability.

Because we believe Freedom Debt Relief is a very good option, we also want to make sure you do your homework on debt settlement and make sure this is the right debt relief option for your situation. Debt settlement is not a perfect solution for every household.

If you want general information on , I can give you the following facts:

Debt settlement, also called debt negotiation, is a form of debt consolidation that resolves your total debt via a form of negotiated, reduced-balance settlements, sometimes more than 50%, with low monthly program payments. Debt settlement programs typically take approximately three to four years to complete, and require perseverance and commitment to stick to the program until all of the debts are resolved.

Keep in mind you are not paying your creditors during the life of a debt settlement program. This means the trade-offs for debt settlement are a negative credit rating and answering collection calls. However, if you struggle to make your payments now, chances are your credit score has already suffered.

Debt settlement offers:

  • Speedy time to program completion for many consumers
  • Lower program costs in comparison to credit counseling debt management plans
  • Lower monthly program payments than credit counseling debt management plans
  • Debt freedom while avoiding bankruptcy
  • Manageable negative factors

We think Freedom Debt Relief could be a great debt settlement partner for you! In the interest of full disclosure, Freedom Debt Relief is a member of Freedom Financial Network, as is Bills.com. We have met with Freedom Debt Relief personnel. We believe the company offers excellent service and a good value to its customers.

I hope this information helps you: Find. Learn. Save. Also, be sure to check out our where consumers and clients post their ratings of Freedom and many other debt relief providers.

Good luck,

Bill

P.S. Contact Freedom Debt Relief directly to learn more yourself at (800) 544-7211


2014 Update

Since the initial review, Freedom Debt Relief has grown to become one of the largest debt resolution providers in the country. They have now resolved more than $2 billion in debts for their clients, showing real results for their clients. We are not aware of any other settlement firm that has resolved this much debt and saved as much for its clients. The company is currently A+ rated by the BBB (the Better Business Bureau) and complies with federal and state regulations that relate to debt resolution. Importantly, they do NOT charge fees in advance of consumer benefit or getting actual settlements, which is consumer friendly and the model advocated by the federal government.

Freedom is recognized as one of the best places to work in Phoenix and San Francisco, was named to the Inc. 500 and Fast 100.

It was audited by BSI Group, a third-party industry compliance and standards auditor. Freedom Debt Relief is currently one of only 16 companies in the industry to undergo and pass a BSI audit for formal accreditation, including client service standards and settlement standards. The company has served 75,000 clients and still average a 98% service level and customer service client on-hold times that average 5 seconds.

All Freedom’s debt consultants passed International Association of Professional Debt Arbitrators (IAPDA) certification, and FDR is one of three Platinum-certified debt settlement companies.

In late 2010, the FTC passed new rules and regulations that prevent debt settlement providers from charging any fees before a settlement is reached. Freedom Debt Relief is fully compliant with these FTC rules. This means Freedom Debt Relief clients do not pay a cent in fees until they see results. This consumer-friendly rule change makes working with Freedom Debt Relief a smarter choice than ever.

357 Comments

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  • 35x35
    Feb, 2013
    Leslie
    I just gave my SS# to Freedom Debt Relief. Should I not have done this? I just have this nagging feeling and want to make sure I am not going to be the victim of identity theft?
    0 Votes

    • 35x35
      Feb, 2013
      Bill
      You should be ok, but feel free to call them back and ask them to confirm that the only use is for a soft-pull (no credit impact) of credit for evaluation of a custom debt resolution program. Good luck.
      0 Votes

  • 35x35
    Nov, 2012
    James
    Overall I have been happy with Freedom Debt Relief, but I was told I would have the flexibility to change the date that my bank account would be drafted, as long as I gave 5 days notice. That was very important to me, because I am self employed in the construction business, and my income has some major down times. I have recently had a bad stretch, and when I made a request to change a draft date, I was told that it could not be done, because of agreements made to a creditor. I told the representative that the money would not be available, but they drafted my bank account anyway. My bank covered the draft and charged an overdraft fee.
    1 Votes

  • 35x35
    Jul, 2012
    Michael
    I joined FDR in Sept 2011...they've settled 4 out of my 7 accounts so far. All accounts have been settled at 40% of what I owed. The staff is great and the collection calls haven't been as bad as I thought! Yes my credit score took a nose dive but that's the price I have to pay for running up my credit cards! Citi has been the hardest company to deal with! I owed a total of $36k and should have all debt settled on less that 3 years total! Thanks FDR!!!
    3 Votes

  • 35x35
    Feb, 2012
    Brad
    I am considering Freedom Debt Relief. I heard that Freedom Debt only charges fees AFTER a client gets results. Can this be true that there are no upfront fees, and that you truly only pay for the service AFTER you get the benefits?
    5 Votes

    • 35x35
      Feb, 2012
      Jon
      Yes, this is correct. Freedom Debt is one of the few companies that complies with new consumer rules that state that a company can only charge a fee after the debt is resolved, account by account. So it is true! Freedom is a good choice if you have lots of debt or financial hardship.
      5 Votes

    • 35x35
      Feb, 2012
      Bill
      Jon is correct. Freedom Debt does not charge any fees until after successful debt resolution. This went in to place for all clients enrolled after October of 2010.
      7 Votes

  • 35x35
    Jan, 2012
    Mike
    Can Bills.com clarify its relationship with Freedom Debt Relief?
    2 Votes

    • 35x35
      Jan, 2012
      Bill
      Bills.com is an independent LLC, but considers as a sister company the Freedom Financial Network, which also owns Freedom Debt Relief.

      Bills.com is editorially independent. We call things as we see them. We have no problems pointing out the pros and cons of debt settlement.
      6 Votes

  • 35x35
    Jan, 2012
    Ann
    I signed up with FDR in 2007, when it became clear that debt settlement was the only option to bankruptcy. Freedom Debt Relief is a legitimate company, and my experience with them was very good - they saved our financial lives. Their fee is 15% of the amount that they save you, which gives them an incentive to negotiate the best settlement for their clients. For example, they negotiated a settlement of $6,000 on a card with a balance of $18,000. The fee we paid them was worth every penny. I never met anyone face to face, it was all by phone and email. If I could have seen them in person, I would kiss and hug them all. I highly recommend Freedom Debt Relief.
    6 Votes

  • 35x35
    Oct, 2011
    Michael
    I joined FDR in September of 2011...I've made 2 payments. I had never missed a credit card payment. The minimum payments had gone up so much lately I couldn't keep up. It was a tough decision but I'm glad I made it. The staff has been very supportive and they even make courtesy calls to see if I need anything. I have 4 accounts in the "hot zone" already and negotions are underway! They said it would be about 3 years till all my debt was settled but now it looks like it might be 2!!! I have to say, that out of all my creditors (US BANK, BofA, Best Buy, Firestone and Citi) Citi is the only one that isn't honoring my request where I changed my address and phone number to FDR's...they call twice on Sundays! Thank you for this artice and thank you FDR!!! Freedom is great.
    4 Votes

    • 35x35
      Feb, 2012
      Gillian
      I've been very pleased with Freedom Debt Relief's attention so far and their courtesy calls. I have two cards enrolled, Discover doesn't seem to be honoring my change of address and phone number either. How did you deal with this?
      5 Votes

  • 35x35
    Oct, 2011
    Rosie
    I am dissatisfied with Freedom Debt Relief program. I am a disabled woman who relyed on this program to help me and guide me while I was recovering. Their communication is horrible and they don't do what they say they are going to do. I regret getting into this program when I could of settled my debt on my own. I have been paying them so much money a month and they have only settled one account.
    10 Votes

  • 35x35
    Sep, 2011
    James
    We started with Freedom Debt Relief May 2010. We had $55K in debt distribution across 11 credit cards. 15 months into our program they settle 7 accounts ranging from 35-55% settlement. Freedom is currently paying 2 on a monthly payment plan. I had to settle 2 on my own since I didn't want to get sued. I didn't want my employer finding out as well. Freedom told us not to worry. That was hard to do. I ended up using my annual bonus and settle on my own with the law firms that were suing us. Both cards were over $10K and the law firm were aggressive so I called them and settled both at 40%. However, I still didn't want to stop using Freedom and try to settle the rest on my own because it was a lot of work dealing with the law firms. I told Freedom that I settled the 2 accounts and they removed them from my plan and lowered my monthly service fee. At the time the service fee was above $300 and now it around $70 per month. I like their service. They make the process easy. The plan was scheduled for 48 month and we should be done in 25 months. I would recommend aggressively attacking your debt and send Freedom all free available cash to get out of this mess. I see the light at the end of the tunnel. We have about 10 more months. I don't care if my credit rating suffers. I haven't bought much in 15 months and I plan to save and pay cash. The Envelop System is a great way to spend your money. So far, I haven't had a summons for any balance under $10K. I wonder if an amount under 10K is not worth pursuing with law firms. I'm so glad I got the bonus to help me settle the 2 with law firms. If I didn't have Just stating what I've noticed with my accounts. Good luck and I hope you learned you lesson. I did.
    7 Votes

  • 35x35
    Apr, 2011
    Matthew
    My wife and I made some really poor decisions regarding using credit cards and unsecured debt. We owe about 44k. After my oldest son gets out of school for the summer my child care costs will double and financially bury us. After much consideration, we signed up with Freedom Debt Relief just this week. Our first deposit into the program will be the end of this month. During my research I read reviews from people regarding FDR. My Debt Specialist at FDR, Kevin C, has been extremely helpful and has pointed out the positives and negatives of debt settlement up front. They were honest and compared all of my options in a truthful manner. I know it won't be super easy, but I need this option. I can honestly say that I am still VERY VERY nervous about doing this. Out only other choice was bankruptcy and that is an option that we didn't want to face. I hope the knot in my stomach goes away once this program gets rolling. I will try to keep updating on here. -Matt
    2 Votes

    • 35x35
      Apr, 2011
      Bill
      Please keep us informed of your progress.
      0 Votes

    • 35x35
      Apr, 2011
      Matthew
      So we had our Welcome Call yesterday with Kristin. Everything went as I thought it would. Our Welcome Packet was received in email a few days before the call so, after reading it, I knew what to expect. She was very helpful and knowledgeable. All of our questions were answered satisfactorily. There are a few forms that I need to fill out and fax back that were in the Welcome Packet. I hope to get that done today. I did have one problem (my fault as I did not sync up my pay schedule with the auto-draft date) with the auto-draft date which our Debt Specialist, Kevin C, got resolved immediately with a simple date change form. So far the communication has been wonderful. I hope it continues throughout the process. I still worry about this entire process but I think that it's probably pretty normal. As I see some accounts settled I think I will feel a lot better about it. -Matt
      3 Votes

    • 35x35
      May, 2011
      Jack
      Honestly, my experience has been good and bad. You will receive a LOT of creditor calls. My wife will not answer the phone because she is scared of who may answer. Get caller ID to help screen. You will get served with papers from the sheriff. If you can handle that, go for it. I have paid over $3200 to FDR and saved $8000 in debt with $14000 to go and I have been in one year. One of my debts was settled at full amount...a wash. My credit score is in the 500's. The knot in my stomach has gotten bigger. I will not be debt free for two to three more years. Price I paid for spending money I did not have and buying a house that has devalued considerably over the past 2 years. If you have signed, stick with it, if not, find another way. Pretty big business this debt-free business.
      4 Votes

    • 35x35
      Aug, 2011
      Matthew
      We're three months in and three two accounts are in collections
      1 Votes

    • 35x35
      Aug, 2011
      Bill
      Freedom Debt Relief devotes more resources to assisting clients who have an account that goes into legal status than any other settlement company that I am aware of. Maintain good communication with FDR, so you get the best advice possible. Debt settlement is not for the faint-of-heart, but experience shows it will save you a lot of money when you complete the program.
      4 Votes

    • 35x35
      Sep, 2011
      Jack
      I have a new one for you! There is a program out there where you can refinance your house even with a low credit score (which is what you get with FDR's program). So I applied.
      8 Votes

    • 35x35
      Oct, 2011
      Paul
      I started Freedom in June and it is a great relief to have lower monthly payment. I'm hoping that my 3 credit cards will settle soon.
      3 Votes

  • 35x35
    Apr, 2011
    Jessica
    Thanks for posting this blog! I found it very helpful with my debt relief needs.
    4 Votes

  • 35x35
    Mar, 2011
    debt
    Wow, that was awesome...Freedom Debt Relief really answers the help of those people with debt problems..BTW, thanks for posting this article I really found it helpful.
    1 Votes

  • 35x35
    Mar, 2011
    Earl
    Really a nice article and good info as well.
    0 Votes

  • 35x35
    Dec, 2010
    Bobby
    Yo peeps, this program is the BOMB!
    1 Votes

    • 35x35
      Dec, 2010
      Bill
      Thanks Bobby, by the bomb we sure hope that means that you are getting debt free and all is well. For the right person, there is no question that a well managed debt resolution program can be a good solution. Cheers and happy holidays. Bill
      2 Votes

    • 35x35
      Mar, 2011
      James
      It's a nice post over here.
      0 Votes

  • 35x35
    Nov, 2010
    Debt
    A good reply to an interesting question thanks for posting it. It was knowledgeable and quite helpful.
    5 Votes

    • 35x35
      Jan, 2011
      Grand
      Your information given is good i was looking for it.I am impresed with your articles, thanks for sharing.
      0 Votes

  • 35x35
    Nov, 2010
    Harold
    How do you compare Freedom Debt Relief to a credit counselor like Careone or Money Management?
    0 Votes

    • 35x35
      Nov, 2010
      Bill
      Comparing Freedom Debt to a credit counseling firm is like comparing apples and oranges... they are both round and they are both fruit, but they are really different things. Freedom offers debt settlement which works to negotiate principal reductions and actually REDUCE your debts. Credit counseling still has you repay ALL of your debt, and gets interest rate concessions. One is for people with serious debt concerns and the other is a milder form of debt relief. Hope that helps.
      5 Votes

  • 35x35
    Nov, 2010
    Gery
    Do you know if Freedom is only charging fees when results and settlements are done? They don't charge advanced fees or upfront fees do they.
    0 Votes

    • 35x35
      Nov, 2010
      Bill
      Yes, Freedom does indeed only charge fees when debts are reduced and they have publicly stated that they do not charge any upfront fees in their debt reduction program. They are in full compliance with the FTC and BBB rules and guidelines.
      2 Votes

    • 35x35
      Dec, 2010
      Sanford
      So you really don't have to pay any fees until debt is reduced? That sounds too good to be true.
      0 Votes

    • 35x35
      Dec, 2010
      Bill
      You definitely do not have to pay Freedom Debt Relief ANY fees until one of your accounts is settled. Each time one of your accounts is successfully settled, you pay Freedom Debt Relief a fee for that single account. I understand that this may sound too good to be true, but it is accurate.
      0 Votes

    • 35x35
      Jan, 2011
      Ken
      I am thinking to join FDR, but I concern if I need to pay over hundreds to a thousand dollars for each account. That would be unaffordable when I have many accounts need to be deal with.
      0 Votes

    • 35x35
      Jan, 2011
      Bill
      The amount each person pays into their special debt settlement account varies for each situation. A person with $10,000 in credit card debt and the desire to complete a program in five years will have a different monthly payment than a person with $30,000 in debt and a three-year goal. Share your concerns with a customer representative. He or she will be able to discuss your options given the accounts you want to enroll, your available income, and your goals.
      1 Votes

    • 35x35
      Aug, 2011
      Kelley
      That's not true, they do charge fees. In fact before they start to pay off your debts, their fee comes out first. I know, I'm a customer.
      0 Votes

    • 35x35
      Aug, 2011
      Bill
      Kelley, Freedom Debt Relief is fully compliant with the FTC rules that were released in October, 2010. While the old rules allowed Freedom to charge up-front fees at the time you became a client, they new rules no longer do.

      I can assure you, based on my personally checking, that no up-front fees are charged now by Freedom Debt Relief.
      0 Votes

    • 35x35
      Sep, 2011
      junior
      They do charge fees. In fact, before they start to pay off your debts, their fee comes out first. I know, I'm a customer. I paid 2 acc in full, or 100%. What they gonna do for me about those account?
      0 Votes

    • 35x35
      Sep, 2011
      Bill
      Weren't some accounts you enrolled settled at a significant discount? We believe that their average settlement results in large savings for their clients. If you did not, Freedom Debt Relief has a clause in its contract that you are guaranteed to a certain amount of overall savings or their fees are reduced.

      While you signed up at a time when up-front fees were allowed, since October, 2010, FDR has not charged any fees before actually getting debts resolved for their clients.
      0 Votes

  • 35x35
    Oct, 2010
    I read this blog and i about Freedom Debt Relief The company is a leader in size and in quality, and is a good fit if you qualify for Freedom Debt Relief's solution.I like it. ************** samy
    0 Votes

  • 35x35
    Oct, 2010
    K.
    Your article states that Freedom Debt Relief has been a member of the Better Business Bureau for many years, yet when you search the BBB website, it says they are NOT members. How do you explain this?
    0 Votes

    • 35x35
      Oct, 2010
      Bill
      It is probably based on the date when the article was written. Freedom was a member of the BBB in good standing, but was removed when the BBB changed its stance on the entire debt industry and Freedom was included in that. So, technically you are correct that Freedom is not a member of the BBB currently, as all debt settlement companies are currently removed from BBB membership. We have spoken to the BBB national office and as of the new FTC rule implementation (Oct. 27th) Freedom will have its rating updated, and companies that are complying with the FTC rule (which Freedom has publicly stated that they are going to comply with this consumer protection rule) will be re-evaluated. So, expect more to come! Thanks for your question.
      0 Votes

  • 35x35
    Oct, 2010
    Bill
    Your question is impossible for me to answer without reading the JPMorgan Chase employee manual. For some jobs, maintaining a certain credit score is a requirement of employment. It is easy to foresee a bank would require its employees to remain current on their accounts as a condition of employment. It is also easy to foresee a bank would have special assistance programs available for employees, too. Consult with your manager or HR department to learn your rights and liabilities if you default on your payments.
    0 Votes

  • 35x35
    Oct, 2010
    John
    I am considering FDR...My question is one of my credit cards is Chase for $18,500...However, I am a Chase employee. How would entering FDR affect my job? Should or could I exclude this one credit card from the FDR program? I would hate to lose my job over trying to become debt free...
    0 Votes

    • 35x35
      Feb, 2011
      charles
      Debt management refers to a repayment plan designed especially for you, which will enable you to get your debts down quickly and easily by allowing you to make one affordable payment every month.
      0 Votes

  • 35x35
    Sep, 2010
    Rita
    Bills, Bills, and more do they ever end. Just when you think your getting caught up something else happens. Hope this works. So tired of it never ending
    0 Votes

  • 35x35
    Sep, 2010
    Bill
    Sandy, we have received your question. Good news is that Freedom Debt Relief appears to be a large and stable business and they will continue to operate successfully, even after the FTC rules go into effect. For existing clients of Freedom Debt or any other debt resolution programs, there really aren't any significant changes. Most of the changes are only relevant for future clients and how the products are marketed and how future clients fees get charged. Thanks for your questions.
    0 Votes

  • 35x35
    Sep, 2010
    sandy
    I have been reading about the changes in FTC regulations for settlement companies coming into effect soon. How will that effect those of us in the Freedom Debt Relief program now?
    0 Votes

  • 35x35
    Sep, 2010
    sandy
    I'v been reading about the new FTC regulations for settlement companies which will take effect either Sept 27 or Oct 27,2010.( I see both dates mentioned?) How will that effect those of us who are presently in the Freedom Debt Relief program? Any insights will be appreciated~~~
    0 Votes

  • 35x35
    Sep, 2010
    Bill
    We found this site, which may be beneficial to review as well if you are looking for reviews, located at: Freedom Debt Relief Reviews
    0 Votes

  • 35x35
    Sep, 2010
    Client
    While I have had some success using FDR, their customer service has yet to impress me. If your going into this, know, you'll be doing the majority of the leg work to resolve and find your actual balances. You can do this on your own too. The bank they set me up with costed an extra $100 or so a year and for each payment there is a cost. Watch for the hidden costs as they add up just like interest would on a credit card. I'm almost done and it has been over 3 years, initially quoted 2 years and am really getting the run around on my final balance. Just be ready to deal with pretty much a bigger credit card company is all.
    0 Votes

  • 35x35
    Aug, 2010
    Dejhonyclark
    Yes..I have read your whole article.I got very much useful information from this.But I have several problems regarding this.we think that they are the best..How long we have to pay debt off?Anyway I like the idea..Thanks. ==================== {href removed}
    0 Votes

  • 35x35
    Aug, 2010
    Bill
    Thanks for the note and congrats on being well on your way to debt freedom Sandy. bill
    0 Votes

  • 35x35
    Aug, 2010
    George
    Debt consolidation processes are very helpful for small business owners to save their company from heavy debts and prevent them from filing bankruptcy.
    0 Votes

  • 35x35
    Aug, 2010
    Bill
    Lori, it is important to be aware that your debt resolution program through Freedom Debt Relief is one where settlements are completed in the future, to resolve your debts. This means that your monthly savings contribution into your special purposes account is estimated based on estimates of future settlement amounts, but you are correct that these are based on hundreds of thousands of past resolutions and savings and are estimated. The good thing about Freedom Debt (relative to other industry participants) is that they actually do resolve tons of debt, so they have very accurate assumptions to base your individual case on. See this article showing that Freedom resolved $114 million in debt in just three months: http://www.prweb.com/releases/freedomdebtrelief/results/prweb4309304.htm I hope that this helps and good luck with your program.
    0 Votes

  • 35x35
    Aug, 2010
    Lori
    I have a question. I am getting ready to consolidate my bills with Freedom Relief. They quoted me five thirteen a month, which is great compared to what I'm paying credit cards, however; how can they know what my monthly bill will be because they have NOT made a settlement as of yet. I'm confused. I'm planning on doing the paperwork tomorrow, so could someone please explain? Thank you!
    0 Votes

  • 35x35
    Aug, 2010
    Bill
    Most consumers in a debt resolution program do not liquidate their assets and pay them into their special savings account entirely, which is used for settling the collection accounts. However, it is also true the more a consumer devotes to the program the faster they complete the program. The answer to your question is very specific to each consumer. A customer service representative will talk with each consumer about their situation and set their expectations accordingly. I realize you may have wanted a yes/no answer, but it is really impossible for me to give you a precise answer without knowing more the amount of debt you have, your income, and fixed expenses.
    0 Votes

  • 35x35
    Jul, 2010
    bella
    I am considering FDR, but was wondering if your checking and savings balances are taking into consideration when settling your unsecured debt. Do I need to "drain" these accounts first?
    0 Votes

  • 35x35
    Jul, 2010
    Daniel
    What a great and informative Blog! I liked how you gathered not only all the positive information to give it a good review, but you personalized it by letting people know a little about its officers and founders of this Debt Relief Co. I will definitely be leaving a link of this blog to my readers.
    0 Votes

  • 35x35
    Jul, 2010
    Bill
    This is actually a misnomer, and a statement that can be misleading. Debt Settlement does NOT eliminate debt. Debt settlement is a program that resolves debts through negotiated settlements, and up until the delinquent accounts are resolved they will accrue interest and late fees. Even with account growth, a good debt settlement firm like Freedom Debt Relief and others can frequently resolved debts for around half of what was owed, or about 40% of current balance. Good luck. Bills.com
    0 Votes

  • 35x35
    Jul, 2010
    Debt
    Debt Settlement eliminates 60% of your debt
    0 Votes

  • 35x35
    Jul, 2010
    habika
    Bankruptcy (assuming that you can even qualify for a Chapter 7 bankruptcy, in the post-bankruptcy reform era) is a public record document that stays on your credit report for 10 years and can be seen by employers, landlords, government agencies, etc. It should really be used as a last result (the lifetime costs of bankruptcy are sometimes higher than any other debt resolution option) - but BK can be the right solution in some instances.
    0 Votes

  • 35x35
    Aug, 2010
    sandy
    I have been with Freedom Debt Relief since October 2008. As of May 2010 they have settled 64% of my $51K debt. I am building up funds in my Special Purpose Account for another negotiation soon. Working with FDR has been very smooth~and I will feel a big accomplishment when I am 100% debt free!
    0 Votes

  • 35x35
    Jun, 2010
    Bill
    FreedomDebt.com and FreedomDebtRelief.com are different companies. FreedomDebt.com is based in Texas and FreedomDebtRelief.com is based in California.
    0 Votes

  • 35x35
    Jun, 2010
    Marilyn
    I know this may have been addressed already but I couldn't find an answer. Are freedomdebt.com and freedomdebtrelief.com the same company?
    0 Votes

  • 35x35
    Jun, 2010
    Paul
    Can you please enlighten me about the debt relief?
    0 Votes

  • 35x35
    May, 2010
    debt
    This information has helped me alot.I just today, have joined. My husband is working, but the jobs he gets are all short jobs, and temporary, with no stability. I guess we joined the rest of the world, HUH?
    0 Votes

  • 35x35
    May, 2010
    aloysius.allen
    The information about debt Settlement programs was really good. In the debt settlement programs, the creditors are only paid until they complete the agreement made by them
    0 Votes

  • 35x35
    May, 2010
    aloysius.allen8
    Great information, Some of the effective ebt Settlement programs have helped many to get complete relief.
    0 Votes

  • 35x35
    May, 2010
    Jackdillon14
    This is a good one for people have financial crisis. debt settlement is one of the good way to settle your debts.
    0 Votes

  • 35x35
    Apr, 2010
    jon12
    Hi,This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone. -------- Jon.
    0 Votes

  • 35x35
    Apr, 2010
    Best
    Audited by BSI Aggroup, a third-party manufacture compliancy and standards auditor. {Marketing Message Removed} is currently one of exclusive 16 companies in the business to endure and license a BSI analyze for schematic accreditation, including consumer aid standards and deciding standards. --------------------------------- ruthallen
    0 Votes

  • 35x35
    Apr, 2010
    Debt
    I appreciate the concern with which is been posted. The things need to be sorted out because it is about the individual but it can be with everyone. {removed href}
    0 Votes

  • 35x35
    Apr, 2010
    Robert
    I've seen this Freedom Debt advertised on my local TV stations. I wonder if they are that good? About a year ago I want to Consumer Credit Counseling, they were of little help. They have pre-negotiated agreements with credit card companies, that is why they charge a very low monthly free about $45-55.00 depending on your case. I went and spoke to a bankruptcy attorney, a well-known guy in the Bay Area. He told me that 70 percent of people who enter into this management programs fail. Also he said that Consumer Credit Counseling services are being paid by the credit card companies. They make you think that they are doing you a favor but they are not. He told me that 'bankruptcy' should always be the last resort!
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    You should probably contact a debt consultant at Freedom Debt Relief and ask them directly. I believe that if the debts are not jointly held and if you do not live in a community property state, then it is possible.
    0 Votes

  • 35x35
    Mar, 2010
    sonicbloom
    i am married. Can I use this service for the debt in my name only and leave my partners as is?
    0 Votes

  • 35x35
    Mar, 2010
    Benji
    Hello everyone. I would like to give special thanks to Bill and all the wonderful, consistent feedback he provides here. I feel like everyone has a different situation so the right answer for each of us may be different. My situation is that I have fallen into CC debt and it will become unmanageable soon. I am current on my payments now but that could change. I do have some reserve money but dont want to just go about making payments until that money runs out, thats just delaying the inevitable. I was thinking about paying off the small balances I have, attacking each balance one at a time, I currently have about 5 cards with small balances. Once that is done I will still have some money for the larger balances I have, about 4 balances total, and I might try to do debt negotiation myself on these balances or go with freedom debt relief based on where I am at that point. Certainly, I will have to do some sort of debt negotiation/consolidation eventually. I just don't like the idea of not paying on them all when I could pay some of them off. If i have less accounts deliquent when things gets rough that might make it easier for me also. Also, how good of an idea is it to try debt negotiation myself? How difficult is it to get a lower APR on some of my cards? I have heard it can only take 1 phone call sometimes...thanks to Bill, and lets all get our debt problems of our BACK!!
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    You can negotiate your debts yourself. The secret sauce that successful debt settlement companies have is 1) they develop a strategy and plan of action with each client to resolve the debt, 2) they remind the client of the importance of putting money into the special savings account for settling a debt, and 3) they have experienced negotiators who work hard to reach a fair settlement. If a person has a plan and the discipline to stick to the plan, and is a sharp negotiator a person can do debt settlement on their own. In my experience, it is rare to find a consumer who has the discipline and skill to do all three well. Also, the debt settlement company (if you choose a leading one like Freedom Debt) will have good contacts and relationships with collectors, may possibly be able to do bulk settlements where you benefit from their scale and will know where each creditor will settle at the lowest level. Good luck.
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    that is GREAT to hear JohnT and glad that you had success with your Freedom Debt program. Bill
    0 Votes

  • 35x35
    Mar, 2010
    JohnT
    I just want to take a moment to say that I enrolled in the FDR program in August of 09. I had over $150,000 in CC Debt. So far they have completely settled one account at 50% and we are in the final stages of 3 others at 20%. Since we are past the 6 month mark I expect calls to start coming from the collection agencies but I knew this going into the program. I was originally told they would need about 40 months to work through everything but the way things are going I expect it to be more like 30 months.
    0 Votes

  • 35x35
    Mar, 2010
    Bill
    Bren, the answer on if you should drop from your long and expensive credit counseling to enroll in a debt settlement program with a firm like Freedom Debt Relief is: it depends. While debt settlement and credit counseling sound similar (you are paying off high cost debt over a shorter period of time, for a much lower cost) they are actually VERY different. Your current program is essentially a bill payment service at a lower interest rate. Debt settlement, however, is a very aggressive approach that is like a fight, and it will involve collection calls and the collections process, it will hurt your FICO score and will have some tough times. But, if you stick to it, you will most likely be debt free fast for a much lower cost. What I would suggest is to call Freedom Debt Relief and ask for a free consultation and ask an advisor to help you to evaluate what your program could look like and the pros and cons. They are at: 1-800-544-7211 Good luck and report back on what you do. Bill
    0 Votes

  • 35x35
    Feb, 2010
    Bren
    I signed up with a credit counseling company a couple months ago and I am very satisfied with their service, but, I am still barely making ends meet each month. I have around 30,000 in debts and I was wondering if I should quit with the credit counseling company and go with a debt settlement company? Would I have alittle more "extra money" each month going with a company like FDR?
    0 Votes

  • 35x35
    Feb, 2010
    Debt
    Very good info. Thanks.
    1 Votes

  • 35x35
    Feb, 2010
    ParisGirl111
    Debt settlement is not always the way to go. Many people just need their payments or interest rates lowered and are still able to maintain payments. (HREF and links removed by administrator)
    0 Votes

  • 35x35
    Feb, 2010
    national
    How to know which debtsettlement company to proceed foward with? First and formost is this company a member of TASC? USOBA? IAPDA? These organazations play a vital role in which company to proceed foward with. {hrefs and advertising / links removed}
    0 Votes

  • 35x35
    Feb, 2010
    Bill
    That is an impossible question to answer because there are no universal standards or guidelines employers use when reviewing a potential employee's credit report. If you are applying for a job that requires a high amount of financial responsibility, then recent signs of personal financial distress in a credit report will be a red flag. However, if the job does not require financial responsibility, or the financial storm occurred three to five years ago, then it is likely the potential employer will not give the derogatory marks on the credit report a second glance. I realize you want a yes or no answer, but the issue is complex and employer-dependent.
    0 Votes

  • 35x35
    Feb, 2010
    Sharon
    Does using a service like FDr impact background checks used by companies in hiring decisions? Thanks
    0 Votes

  • 35x35
    Feb, 2010
    Bill
    1) You can continue to use credit cards that are not included in a debt settlement plan. I would caution you to use it sparingly so that you do not dig yourself another hole while getting out of the first. 2) A debt settlement program is designed for people in distress. If you can resolve the $17,000 in debt by setting a household budget, controlling your expenses, and working a part-time job or getting overtime, then take that course of action. However, if the debt is overwhelming and you have no reasonable expectation of resolving it on your own, then consider your options, including debt settlement.
    0 Votes

  • 35x35
    Feb, 2010
    Josh
    Ok, not sure if my situation is that unique, but thought i'd post it anyway. I have less then $17,000 in unsecured debt. i am current on all my accounts, but just dont seem to be getting ahead. When going through things with Freedom, with the settlement amount they gave me, i feel with a lot of hard work, i can have the debt paid off in 18 months or less, but easily within 2 years. I also have one credit card with no debt on it. Can i continue to use that card and keep it paid off each month to help prop up my credit score while in the program and then also to rebuild credit after the program? or does freedom not sound like the best option for me in the first place since i can pay the bills, but just cant seem to get them wiped out? thanks for the advice!
    0 Votes

  • 35x35
    Feb, 2010
    Bill
    That's great to hear that you are on the path to debt freedom, and that Freedom Debt Relief is treating you kindly and helping you get debt free. Good luck and be sure to stick with it, even when it seems tough. Getting debt free is like joining a gym, you cannot sign up but not stick to a plan of fitness and be disciplined... but when you finish you'll be debt free for life! Bill
    0 Votes

  • 35x35
    Feb, 2010
    Rachel
    We too are in debt up to our eyeballs. I tried to work with one of the creditors and was flat out rejected. I joined Freedom Debt Relief and have been treated very kindly. It is hard when the calls and letters start but stay in touch with Freedom is the best thing. Each time I call they listen to what is going on and then tell me what they will be do to help. Best thing we ever did was to join. Funny thing but we are finding we can live without credit cards!
    0 Votes

  • 35x35
    Feb, 2010
    thakara
    hi my wife and I owe 40k on 7credit cards. We have been unemployed for the past 5 months. We were on a temp employment visa (h1) and moved to Canada a month ago. We will try to look for work here. We have about 1000 left in tv US bank which can be used to pay mi imum balances for about 3 months. I am thinking of defaulting on the payments. I am not sure how much a debt relief agency can helps since I am not in US. We have always paid taxes and CC payments up to now. I k ow that our credit will suffer because of this but what are the other consequences of dilinquency? Can I visit the US again? Can they come after me in another country? Will it affect my credit here? Can they put me in jail? any advise will be appreciated
    0 Votes

  • 35x35
    Feb, 2010
    Bob
    Great information here with very honest and and valuable discussion. I'd really like to see a good blog or website detail all the popular consolidation companies out their with their requirements for APR eligibility. Some of these companies will not offer their services if you have below 11% overall which I consider to be a fairly high APR by todays standards.
    0 Votes

  • 35x35
    Feb, 2010
    Bill
    Thakara: I answered a question similar to yours recently in Canada Credit Report. The answers to your questions are somewhat complicated, and I would do you a disservice to try to summarize them in one or two sentences here. Please see the link I mentioned for a complete discussion of the issues.
    0 Votes

  • 35x35
    Jan, 2010
    Bill
    It is rare for a creditor to file a lawsuit at all, and even rarer for one to file so quickly. See Advice if you Received a Subpoena While in Debt Resolution Program to learn how to contact Freedom Debt Relief's legal department.
    0 Votes

  • 35x35
    Jan, 2010
    Kim
    yes we enrolled with Freedom Debt back in November. To date we have two aggressive creditors, one Citifinancial and the other is a smaller company. The smaller company sent us a Summons to court. what scares me is that this account is only 2 payments behind and now he is already suing us for payment plus court and attorney fees. My question is should we be looking at bankruptcy or ride this out and see what Freedom can actually do for us.
    1 Votes

  • 35x35
    Jan, 2010
    Bill
    The company you mentioned offers consumers debt management plans (DMP). A DMP is a plan where the creditors make a concession on the interest rate while requiring the debtor to repay the entire balance over time. Freedom Debt Relief offers debt negotiation where the company negotiates the balance of the debt so that the consumer pays 40 to 60 cents on the original ballance dollar. See What Are My Debt Resolution Options? for a more complete discussion of the differences between the approaches and your other options.
    0 Votes

  • 35x35
    Jan, 2010
    Mike
    I have currently been with Take Charge for approximately 9 months. I have about $120,000 in credit card debt but I am finding it harder and harder to make the monthly payment and have about four years to go. My job situation is not steady and my wife lost her job. My credit score is already bad because of having to close all these accounts when I went with Take Charge so I'm wondering if FDR would be a better solution for me and if my monthly payment would be less than what I am paying to Take Charge.
    0 Votes

  • 35x35
    Jan, 2010
    Bill
    We did notice that, and I am sure that this success has reverberated across the industry and I know that Freedom Debt is very pleased with this outcome.
    0 Votes

  • 35x35
    Jan, 2010
    Freedom
    Did you see this, this is pretty great news for Freedom Debt Relief and the entire industry: CALIFORNIA DEPARTMENT OF CORPORATIONS FINDS FREEDOM DEBT RELIEF IS COMPLIANT WITH ALL OF THEIR REGULATIONS AND LAWS. "We recognize this as validation that our debt settlement business model works in the consumer's best interest," said Andrew Housser, co-CEO of FDR. This is the first known case where a debt settlement company has been acknowledged to be compliant with current California law. Good work Freedom!
    0 Votes

  • 35x35
    Dec, 2009
    Bill
    Yes, Freedom Debt Relief is a very good company. As discussed above Freedom Debt Relief (FDR)is a reputable company to work with. Their underwriting process is very thorough, and is based on seven years of experience negotiating thousands of accounts with creditors. You can be confident that the plan they offer fits your particular situation. You should keep in mind that a debt settlement program is for someone who is experiencing a financial hardship, and possibly considering bankruptcy. Any third party program to assist you with your debt will have a negative effect on your credit. Debt settlement programs, like the one Freedom Debt Relief offers, negatively impacts your credit because your accounts must be past due before a creditor is willing to negotiate. However, the impact on the credit tends to be less severe than filing bankruptcy.
    0 Votes

  • 35x35
    Dec, 2009
    Jean
    I am thinking about to join FDR..but im scare. Is FDR good? i owe over 13k and FDR offer me to pay 228 per month for 40 months. Will it effect my credit score and etc? Will the creditors call me immediately?
    0 Votes

  • 35x35
    Dec, 2009
    Bill
    Would you care to share the problems referenced? As far as BBB, no real debt settlement providers are currently members of the Better Business Bureau (that we are aware of) - and per our recent visit with the General Counsel of the BBB regarding debt options for consumers, this will not be revisited until July of 2010. The BBB's stance is currently to not allow membership to debt settlement companies until a formal review process and screening (including accreditation standards, similar to TASC, and state licenses) is established. To our knowledge Freedom would be one of the few debt settlement companies that is accredited, licensed, bonded and would potentially qualify. Cheers. Bill
    0 Votes

  • 35x35
    Dec, 2009
    Buster
    I hate to break the bubble on this little party but FDR has some problems. And FYI they do not have a BBB Accreditation, check them out on BBB website.
    0 Votes

  • 35x35
    Dec, 2009
    debt
    Thanks Bill!!You put my mind at ease about FDR.
    0 Votes

  • 35x35
    Dec, 2009
    Bill
    That is good advice Ruby, each consumer always needs to first decide what debt strategy is best for them (debt consolidation, debt settlement, credit counseling, bankruptcy, or figuring out a way to pay their bills) and then select the best company for their products and also a debt counselor that they can trust. Cheers. Bill
    0 Votes

  • 35x35
    Dec, 2009
    Ruby
    if you want to take credit card debt settlement advice from a professional, you should be able to trust the advisor fully. So you need to check the credentials of the credit card debt settlement advisor/company. There are hordes of people and companies that advertise "credit card debt settlement in one day" which will appear incredible.Such credit card offers are generally not genuine.
    0 Votes

  • 35x35
    Dec, 2009
    Bill
    Kim, I have two suggestions for you. First, read What Are My Debt Consolidation Options? This resource is a brief overview of the pros and cons of your debt resolution/consolidation options. Second, read Debt Reduction Companies to learn more about what to look for in a debt resolution partner.
    0 Votes

  • 35x35
    Dec, 2009
    KIm
    I need some advice regarding debt settlement. I filed bankruptcy 16 years ago. I got myself back into debt from school and stupidly took out a personal loan from boa and now am right back into debt again after three years. I have enrolled in a credit counseling class but I need to get some relief. I have made all my payments but am living on 40 dollars a week. I jsut need some suggestions. I have heard of a place cal best debt options and they check out with the bbb. Is there anything else I should be looking at Thanks Kim
    0 Votes

  • 35x35
    Dec, 2009
    Bill
    Freedom Debt Relief is a separate company from the other two you mentioned.
    0 Votes

  • 35x35
    Dec, 2009
    Laurie
    Is Freedom Debt Relief the same as freedom debt management or freedomdebt.com? I want to be sure to go to the right Freedom Debt Relief that was recommended to me by my friend who liked them.
    0 Votes

  • 35x35
    Nov, 2009
    CJ
    Thank you for the Freedom Debt information. CJ
    0 Votes

  • 35x35
    Nov, 2009
    Bill
    The IRS Topic 431 - Canceled Debt – Is it Taxable or Not states in part, "In general, if a debt for which you are personally liable is canceled or forgiven, other than as a gift or bequest, you may have to include the canceled amount in gross income." Many exclusions apply. See the IRS document I cited above, and to see how the details of your situation apply to the exclusions. In general, there is a chance that any canceled debt could be taxable as CODI (cancellation of debt income), but if your debts are more than your assets (technically, you are insolvent) then you may qualify for exemption - but you should contact your tax preparer and ask them to evaluate a form 982 and the insolvency clause. See Cancellation of Debt Income for more information.
    0 Votes

  • 35x35
    Nov, 2009
    Linda
    Is it true that if creditors do accept a negotiated settlement, the amount forgiven constitutes taxable income ???
    0 Votes

  • 35x35
    Nov, 2009
    Jen
    I absolutely LOVE Freedom Debt Relief! I have been with the program for just over 3 years, and they have negotiated and paid off all of my credit cards and my Husband's credit cards at 50% on most, and a bit lower % on some. I still have a rather large outstanding personal loan from CitiFinancial, so it's taking a little while to accumulate enough in my account so they can begin negotiating with them, but I'm almost there! (fingers crossed that CitiFinancial will be nice and also negotiate at around 50%...). After that, I will be finished! One of the biggest helps and 'de-stressors' for me when I first began the program is that I no longer had to 'avoid' all of those calls from 800 #s (collectors) that I would get on my cell & work phones SOOOO many times every day! That was completely awesome, and immediately allowed me to relax in knowing that I had someone else (FDR) who was very competently dealing with my creditors on a 'business to business' level -- without all of the "guilt-giving" (by collection agents) and "guilt-feeling" (by me)! I can't stress how valuable just that aspect was to me and my mental health!! I would ABSOLUTELY recommend Freedom Debt Relief to anyone who is currently having trouble "keeping up" -- they are VERY straightforward, EXTREMELY helpful, and provide OUTSTANDING customer service! I just can't say enough GREAT things about them! Thank you SOOOOO MUCH, FDR! -Jen;-)
    0 Votes

  • 35x35
    Nov, 2009
    Bill
    No, Freedom Debt Relief is a different company. It sounds like Freedom Now may be out of business. You could contact a local attorney to track them down.
    0 Votes

  • 35x35
    Nov, 2009
    Is "freedom debt relief" the same company as "freedom now debt relief" who is associated with "rocky mountain bank & trust" thru "global client solutions". FNDR are the people who I can not contact anymore, their phones are all disconnected and no one answers my emails.
    0 Votes

  • 35x35
    Nov, 2009
    Bill
    First, remember the creditors' goals: They want you to pay the balances you owe them in full, and not a penny less. With this in mind, it is not surprising the collections people you are speaking to will say things like, "we don't deal with settlement companies." And, there may be a tiny sliver of truth in what the collections people are telling you -- the people in their call centers do not deal with debt settlement companies. However, people in the creditors' other call centers do. Second, as you enter into a debt settlement/negotiation plan, your account balances will grow as the accounts accrue interest. However, keep in mind the goal and track record of debt settlement and negotiation plans -- a successful settlement/negotiation company will resolve your debt for 50 cents on a dollar or less. Therefore, even though your account balances will grow initially, they should be resolved for less than the balances you see. Third, I am concerned by your reference to continuing to make minimum payments. If you are continuing to make minimum payments, then you are working against yourself in resolving the debt. Therefore, I urge you to contact your debt resolution/negotiation company immediately and discuss your concerns and your making minimum payments with a customer service person. Ask the customer service person to work with you to help you understand your plan's features and how your plan operates.
    0 Votes

  • 35x35
    Nov, 2009
    Jenni
    I recently signed up with FDR so I have stopped paying my 7 credit card payments (4 different creditors), but have had only one payment taken out of my bank account so far which is obviously not enough to settle. Some of the creditors are telling me they don't deal with settlement companies - is this a scare tactic? The customer service rep I have dealt with at FDR said that they deal often with each of my creditors so I shouldn't worry about it. I'm also confused, if the creditors haven't settled yet, how is it that they were able to "settle" on the amount I gave them when I first signed up which was before all of these late fees and higher interest accrued? I'm starting to worry about this, but probably won't be able to catch up now paying minimum payments on my own.
    0 Votes

  • 35x35
    Oct, 2009
    Bill
    It is impossible for me to say if bankruptcy or a debt resolution program is the best solution for you based on the facts you shared. Answering that question depends on your goals, if you own property, your income, the nature of the debt, if you are considering Chapter 7 or Chapter 13 bankruptcy, and if you even qualify for bankruptcy under the 2005 rules changes, among other considerations. Give FDR a call and listen to the positives and negatives of debt negotiation/consolidation, and weigh each according to your medium- and long-term goals. Do the same with a bankruptcy attorney. The decision will be much easier for you once you understand more about both options.
    0 Votes

  • 35x35
    Oct, 2009
    Reba
    I was considering bankruptcy,but have always paid my bills on time and had FICO scores between 714 and 745.My debit is around $125,000.Is FDR's program for me? I'm just trying to make sure that it's a reliable and recognized company and from what I've read above,it is---with a few complaints---which any company can have.Thoughts?
    1 Votes

  • 35x35
    Oct, 2009
    Bill
    The FCRA, the Fair Credit Reporting Act is the set of rules governing the credit reporting agencies. As a practical matter, none of these companies show an immediate status change in an account -- there is always the delay in the reporting period dates, which is usually at least a 30-day lag, and in some cases the lag is 90 days. There is no standard manner in which a creditor will report a resolved account. Some report their accounts as "paid in full," and others will report the account as "settled as agreed" or "settled" or "settled in full." I am not aware of any free service that allows a consumer to check their credit report frequently, but you can check annually for free at annualcreditreport.com Good luck. Bill
    0 Votes

  • 35x35
    Oct, 2009
    sandy
    Half of my cedit card debt has been paid off in my first year with the help of FDR.The question I have~ does each credit card company immediately report this debt "paid in full" to the credit report companies? Gabrielle mentioned she checks her score each time FDR settles a debt. I wonder how you can check your score without paying each time.I knew that my credit score would be very low~so I have chosen not to know my score until I successfully finish the program. I was glad to see the score goes up each time. I have found that this company stands by their customers and have been extremely professional.I too am very grateful!
    0 Votes

  • 35x35
    Oct, 2009
    Bill
    Thanks for your input Warren. We believe that many of these issues have been addressed throughout, but each consumer does indeed need to do their own research. Bill
    0 Votes

  • 35x35
    Oct, 2009
    Warren
    Do you people do any research? Some facts about Freedom Debt Relief: Few of the common complaints against Freedom Debt Relief are: •They settle for far more an amount than what they commit to customers. •The BBB has rated them as F •Even after receiving a 'cease and desist' letter they continued with their calls. •They tend to lose information provided by their customers. •They are known to spoil credit scores of individuals. •They are accused of not returning client's money in case they have not been able to settle with a creditor. •The kind of settlement they make is no better General information on Freedom Debt Relief
    0 Votes

  • 35x35
    Oct, 2009
    Joey
    Freedom Debt Relief is a great company. The consultants are knowledgeable and honest. Although debt settlement is not for everyone, in todays economy, many people could benefit using their services. I would recommend them to my family and friends.
    0 Votes

  • 35x35
    Oct, 2009
    Tim
    I just wanted to call in. The person I spoke with made it easy to understand. I know what I need to do. Thanks.
    1 Votes

  • 35x35
    Oct, 2009
    Gabrielle
    I am happy about my experience with this company. My rep explained everthing in a clear and concise manner, told me what to expect and she was right. We have settled 4 accounts out of 13 so far. I am more than pleased. I check my credit score each time they settle a debt and watch it go up little by little. To top it off, I will finally be debt free soon.
    0 Votes

  • 35x35
    Oct, 2009
    Bill
    Thank you for sharing your story Jessica, we are very happy for your mother and her Freedom story. Good luck and stay debt free! Bill
    0 Votes

  • 35x35
    Oct, 2009
    Jessica
    My mother has been enrolled with Freedom Debt Relief a little over a year now and almost all of her accounts has been settled. Not to mention, one of the accounts was negotiated down to only 20% of the original balance. Words cannot express how grateful I am knowing that my mom will be able to retire in a year…DEBT FREE!!!
    0 Votes

  • 35x35
    Oct, 2009
    Janice
    Freedom Debt Relief has helped to eliminate over half of my credit card debt so far. The credit card companies increased my interest rates to a point where I just could NOT pay. I called and they helped to walk me through the process. It was a little scary at first, but I am so happy I took a step in faith and came out ahead - and almost debt FREE! Anyone struggling should consider hiring this company.
    0 Votes

  • 35x35
    Oct, 2009
    Ingram
    I like the company and how they operate. I heard of many success stories, I would recommend them to my family and friends. These are tough times for consumers with high interest rates and loss of employment. It's a positive step in trying to move forward.
    0 Votes

  • 35x35
    Oct, 2009
    Kathy
    It's very easy to spend your way into debt but it's incredibly hard to dig your way out. Interesting article on potential ways to become debt free.
    0 Votes

  • 35x35
    Oct, 2009
    Bill
    Bill's note to readers: I had never heard the term domino strategy before, so I asked Marian in an e-mail message for a definition. She replied with the following: "The domino strategy is where once you are done making payments on one card you take what you were paying and add that to the next card. Then when that's paid off you take that amount and apply it all to the next card, and so on." I like that phrase, and plan to use it to describe that strategy in the future.

    Marian, your time to debt freedom in a debt resolution program is shorter than using the domino strategy, but at the cost of damaging your credit record. On the other hand, the domino strategy will take longer to achieve debt freedom, after which you will have a high credit score. However, one important thing you did not mention is your down-payment. How will you save for a down payment if you are spending all you can to retire the debt? Which leads us back to debt resolution as viable strategy. Let us assume that debt resolution takes less time than the domino strategy to achieve debt freedom. That's a reasonable assumption given that debt resolution programs settle debts at an average rate of 45-50 cents on the dollar. Once you are debt-free, you can continue to save at the same rate, but instead of your monthly savings being deposited into a special-purpose account, you can put that money into an account you reserve for your down-payment. While saving for your down-payment, you can rebuild your credit score with a secured credit card, and so on.

    Debt settlement is not a one-size-fits-all strategy. I think it worthy of your consideration in your case for the reason I outlined above. Read "What Are My Debt Resolution Options?" to learn more.
    0 Votes

  • 35x35
    Oct, 2009
    Marian
    My husband and I owe about 95k in unsecured debt and currently going through a short sale of our home. Our credit has already tanked due to the short sale. We've been making our credit card payments on time and can still continue to do so. We just have to live paycheck to paycheck. My concern with the debt settlement is that it will make our credit even worse and that it will cause us to not be able to purchase a home in a few years. We figure if the lenders saw that the only thing we had in default was the shortsale and nothing else, that it will still look better on our credit report. With our current payoff plan, we can probably become debt free in 4 years or so using the dominoe strategy. Would you advise for us to settle our debt since our credit is tanked already anyways or would it be better in the long run to just continue making payments?
    0 Votes

  • 35x35
    Oct, 2009
    Bill
    I contacted Freedom Debt Relief and asked about your situation. I learned the company does not cold-call people. The company does, however, return calls from people who have expressed an interest in their services, but that does not seem to match your circumstances. Since you mentioned that the number that came up on your phone had the same area code as your family, perhaps you could share with me the number that called you, so that we can research this mystery further. Thanks, and I look forward to you following up with me.
    0 Votes

  • 35x35
    Oct, 2009
    Michelle
    I received an obviously misdirected call by a representative of a company calling itself Freedom at my cell phone while I was driving. This representative INSISTED on talking over me while I was trying to tell them they had the wrong number. By the way, the only reason I answered was that I have friends and relatives in the area code the call was coming from and thought that one of those family/friends might be calling me because they might have an emergency situation that they were calling about.
    0 Votes

  • 35x35
    Oct, 2009
    Bill
    If, as you say, you can't sustain your debt, then you need to resolve it one way or another. Debt resolution is a great solution if you have enough monthly income to set aside for settlements with your creditors. Call FDR -- you have nothing to lose to learn more about this option. An FDR counselor will ask about your income, expenses, and debt load and tell you if you are a good candidate for a debt resolution program. The alternative I see based on your brief question is Chapter 13 bankruptcy.
    0 Votes

  • 35x35
    Oct, 2009
    Judy
    I have to make a decision soon to take care of my debt. As of now I am using credit cards to pay monthly debt. I am also retired and on a fixed income. Would FDR be able to help me become debt free. I do have a mortgage of $300,000 and my debt is around $45,000. I have never been late on payments but cannot keep this up. Any thoughts?
    0 Votes

  • 35x35
    Oct, 2009
    Jeremy
    Well I'm now about 5 months into the program and Freedom has settled my third account just today. Granted it is a 9 installment plan but it still comes out to half of the original balance. They are definitely doing what they advertise. The only thing that concerns me is that with the roughly 190 per month coming out in fees ongoing the next 17 months or so they will not have a lot of wiggle room for other creditor settlements. Unless they also make payment plans with those creditors. Anyway, just wanted to report that I'm 100% satisfied to this point.
    0 Votes

  • 35x35
    Sep, 2009
    Bill
    Peter: Yes, the accounts remain on your credit report for seven years but the entries for each account will change as each account is resolved. Exactly how each will be reported is up to each creditor. However, each account will be reported as some form of paid.
    0 Votes

  • 35x35
    Sep, 2009
    Bill
    While it is possible to be sued while in a debt negotiation program like those offered by FDR, as your friend experienced, the large majority or people are not sued during their enrollemnt in a settlement program. Also, I know that FDR has a team dedicated to resolving the accounts of those of its clients who are sued, so there is a good chance that your program could still succeed even if one of your creditors decides to pursue litigation. I cannot tell you whether or not bankruptcy is a better option for you; I do not know enough about your situation and am not qualified to make such a determination. However, choosing to end your settlement program simply becuase you are worried about the potential of being sued is probably premature; if you are sued and FDR is unable to resolve the legal action, then you may have a good reason to consider bankruptcy. Until then, I would encourage you to continue with the settlement program, unless it has become unaffordable or you know that you will not be able to see it through to the end. If you find that you need to file bankruptcy later, you can always do so, but it is more likely that you will not need to go to that route. If you are considering bankruptcy, I strongly encourage you to consult with a qualified bankruptcy attorney in your area to discuss the options available to you. I wish you the best of luck!
    0 Votes

  • 35x35
    Sep, 2009
    Peter
    I am considering using Freedom Debt Relief to help me negotiate a settlement to my credit card debts. Since the debts will be reported as delinquent during the negotiation period with the creditors, won't the delinquincy or late payments remain on my credit report for 7 years?
    2 Votes

  • 35x35
    Sep, 2009
    Krystina
    I am currently enrolled with FDR's program since may '09. I have a friend who is also enrolled with them but she recently got sued, now she's considering BK Should I consider BK or continue my enrollment with FDR?
    0 Votes

  • 35x35
    Sep, 2009
    Jonathan
    You should ask Freedom. I do know that if you are a joint account holder, then both of you will be subject to collection activity and so you should both sign up for unsecured accounts that are going to be enrolled. Secured debts won't qualify for a debt resolution program and wouldn't be really relevant. Let us all know how it goes.
    0 Votes

  • 35x35
    Sep, 2009
    Teresa
    I am looking into Freedom Debt Relief as a means to settle with our unsecured debts, most of which are in my name. My husband and I have a home, car etc in both our names but most others are in mine only or he is just listed as authorized. Do I sign up as an individual? Also how is a timeshare considered?
    0 Votes

  • 35x35
    Sep, 2009
    Bill
    1) The special purpose account is in your name and is your asset. I do not know how Sallie Mae or private loan providers treat the special purpose account. 2) I cannot answer how your local government will react to your payment plan. My suggestion is to contact them and ask if they have a program for people in this situation, and what the ramifications are.
    0 Votes

  • 35x35
    Sep, 2009
    Kate
    I have about $47k in unsecured debt and $220k mortgage debt. I was doing ok until the economy dived and all my credit cards lowered my available balance and raised my rates. I have tried to get a consolidation loan but have a much too high debt to earnings ratio. I do not want to go the bankruptcy route, so I am thinking this is my best bet. I have two questions. 1. My daughter is graduating from HS in June 2010 and is applying to colleges. The only way she can go is if the schools give her financial aid. If I join Freedom, will the savings account be used against me when the schools are looking at my finances? 2. My state/local taxes ($1,450.00)are due in 8 days. As I cannot pay them in full, I just paid $200.00 using the last few $ on my credit card to give them some money. They charge a 6% late fee then 1% each month going forward. As this is much less than my cc interest rates, I thought I would just pay a small amount each month. If they are getting some money every month, do you think I will have to worry about them putting a lien on my house? Thanks very much.
    2 Votes

  • 35x35
    Sep, 2009
    Credit
    Is Freedom Debt Relief a good option for debt relief? Can you please do a review of freedom debt relief for me to determine if they are the BEST debt relief option for me? nice question and thanks for the answers!
    0 Votes

  • 35x35
    Sep, 2009
    Bill
    I cannot answer that question for you, a lot will depend on your financial situation. I do suggest that before you decide on anything, you should do your home work and evaluate all your solutions. The folks at Freedom Debt Relief will be happy to do that for you for free. Once you have an idea about your options and the pros and cons of the same, you will be in a better position to decide. You can call 1-800-544-7211 today for a free consultation.
    0 Votes

  • 35x35
    Sep, 2009
    Maybe
    I am thnking about using Freedom. I'm behind on my credit payments for about 2 months and cannot afford what my predatory credit cards want to charge me. Should I go with Freedom Debt, since I don't want to file bankruptcy at all.
    0 Votes

  • 35x35
    Sep, 2009
    Bill
    Patriot, you might want to talk to an attorney - but I suspect that it depends on two things: 1. if you live in a community property state; or, 2. if the debt is jointly held. If either case applies, then the creditors could sue you and your spouse to try to win a judgment and then apply that judgment with a garnishment, lien, or levy. Be sure to check out this page to see your state limits and check with a local attorney for your specifics: http://www.bills.com/collection-laws/ Good luck and let us know how your Freedom Debt Program goes for you. Bills
    0 Votes

  • 35x35
    Sep, 2009
    Patriot
    What happens if I die before the program is finished or before negotiations are complete? Can the creditor go after our car which is in both names or the house?
    0 Votes

  • 35x35
    Sep, 2009
    Gabriel
    Thanks to the fine people that worked hard for me at Freedom Relief I am much better off. That is my review, thank you. Gabe.
    0 Votes

  • 35x35
    Aug, 2009
    Bill
    Thank you for the feedback on Freedom and your review. Keep checking in and let us know how it goes all the way to graduation, and expect at least a few bumps in the road... but hang in there.
    0 Votes

  • 35x35
    Aug, 2009
    Customer
    I am a customer and just got my first settlement. Freedom is wonderful and nice, and they just sent me a really cool card that EVERYONE at Freedom Debt Relief signed for just me, whcih made me feel like they really care. Anyway, thank you guys and gals at Freedom.
    0 Votes

  • 35x35
    Aug, 2009
    Bill
    Thanks Raineys. I think that this was addressed, but to re-iterate, the company was a member of the BBB until the state of California contested their licensing under the prorating statute. You will notice that all court dates have been removed, which certainly appears to be a positive sign. Expect more from the company on this front. I do highly recommend that everyone do their homework, however, and find the best company and best solution for themselves. bill
    0 Votes

  • 35x35
    Aug, 2009
    Mark
    What I tried to convey in my earlier answer is that you personally and the corporation are separate legal entities, assuming that the corporation is set up and funded properly. If you are acting as a corporate officer searching for lines of credit for the corporation, then your personal credit history is irrelevant. However, if you are mixing the two, then that's a separate issue. By mixing the two, I mean that you personally are a guarantor of a corporate line of credit or loan. If you are a guarantor, then whatever appears in your personal credit history will affect your loan application.
    0 Votes

  • 35x35
    Aug, 2009
    Jeff
    I understand the liability portion, however the question I have pertains to credit. Specifically business credit. Will banks, lenders, leasing companies look unfavorably at my requests for credit for my business if I do this program?
    0 Votes

  • 35x35
    Aug, 2009
    Mark
    If you are a stockholder in a C-corporation, then unless you personally guaranteed the debts, any debt associated with the corporation should not have personal conseuquences (including credit report impacts). Confirm this by pulling your personal credit report and make sure that the corporate debt is not on your own report. Your stock is considered your asset. Assuming the directors set up the corporation according to the rules and formalities of your state, that the corporation was adequately funded, and that neither the directors nor the stockholders funds were co-mingled with the corporation's (nor was there fraud), then the corporation will be considered a separate entity from the stockholders and directors for liability purposes. I recommend you consult with the attorney who set up your corporation.
    0 Votes

  • 35x35
    Aug, 2009
    Jeff
    I have about $60k in credit card debt and am considering this program. However I own a business and have it under a C-corp. Will doing this program ruin my business credit?
    0 Votes

  • 35x35
    Aug, 2009
    Bill
    Carol, I would highly recommend reaching out to the team at Freedom Debt and seeing if they can answer your questions and even get any debts resolved asap. You are right that Credit Card Debt can become a huge burden and that many consumers are turning to aggressive methods to just get debt free as quickly as they can... as you are doing with the FDR program. Please be sure to check back in with us and report on your status and progress, so that we can see how they do in answering your specific issues. Good luck. Bill
    0 Votes

  • 35x35
    Aug, 2009
    Carol
    I've been with them for 8 months now. Have to pay an attorney $200 each month for Citifinancial so they won't garnish my wages and just sitting on pins and needles waiting for something to happen with my credit card debts. This is not an easy road to take and what really gets me is that all you hear on the radio anymore is "Settle Your Debt" Lower your payments and so on and so forth. This seems to be the route to take anymore. These credit card companies are raking us under the coals.
    0 Votes

  • 35x35
    Aug, 2009
    Edward
    Freedom Debt Relief helped me in organizing my debts and sorting out my problems. I would recommend you to anyone who is in debt.
    0 Votes

  • 35x35
    Aug, 2009
    Dave
    Freedom Debt Relief has been helping me since May 2007 to resolve $70k in unsecured debt. I can say they are a great company. Have about a year to go. I recommend FDR;I talked to other debt resolution companies and found only FDR professional and straight forward.
    1 Votes

  • 35x35
    Aug, 2009
    Freedom
    Thank you. This information does indeed consistent with my experience with freedom debt's services.
    0 Votes

  • 35x35
    Aug, 2009
    Kim
    Thank You Thank You Thank You!: I wanted to let say to all the people at Freedom Debt Relief that we are truely grateful for all that you did for us.I finally stopped worrying and our stress level has decreased tremendously now that we out of debt.I know that things happen for a reason and I believe that your company name coming up on our computer when we were looking for help was because FDR was the one that could really do what needed to be done.God bless you all for the valuable service that you do for people like us and others who work really hard but still need a helping hand. – Kim & Edward S.
    0 Votes

  • 35x35
    Aug, 2009
    Jeremy
    Freedom has now settled 2 of my accounts in just 4 months. One for 50% and the other for about 25%. They arranged payment plans for each so it is nice to know that the creditors will accept the settlement over a period of a few months if you do not have the funds completely available. They have been great and as advertised to this point.
    0 Votes

  • 35x35
    Aug, 2009
    Bill
    Thank you for your feedback on Freedom and your Debt Relief program Steve. Bill
    0 Votes

  • 35x35
    Aug, 2009
    Steve
    Debt reduction program from Freedom Debt Relief has given me peace of mind, one of my debt got settled at 20%. Thank you guys for your support.
    0 Votes

  • 35x35
    Jul, 2009
    sandy
    Here's my update~ I have been in the FDR program for 9 months. Half of my credit card debt (the total was $51,000) has been settled. I am truly amazed and relieved~ the negotiators were able to get very good settlements. One bank settled a large debt at 10%. Thanks for the support and help from Freedom Debt Relief.
    0 Votes

  • 35x35
    Jul, 2009
    Kristie
    I was struggling after a bad car accident and a divorce, Freedom Debt Relief helped me in reducing my debt substantially. Initially I had thought bankruptcy was my only option but due to freedom debt relief I was able to become debt free without filing for bankruptcy.
    0 Votes

  • 35x35
    Jul, 2009
    Bill
    Yes we are. We are a separate and independent company, but as stated in the blog article: "In the spirit of full disclosure, we do consider Freedom Financial Network and it's related entities as sister companies and think very highly of the teams at Freedom." Good luck HB.
    0 Votes

  • 35x35
    Jul, 2009
    HB
    Are you affiliated with Freedom Financial in any way?
    0 Votes

  • 35x35
    Jul, 2009
    Bill
    That is good to hear Jeremy. Most likely there will be tougher and easier times, so be sure to work closely with your debt provider and hang in there until they are all paid off and you are debt free. Glad to hear another success story.
    0 Votes

  • 35x35
    Jul, 2009
    Jeremy
    I have to say I've only been in the program going on 3 months but just yesterday I was already informed of a settlement on one of my mid size creditors. I'm very impressed. Actually had thought it would be 6 months or more but they truly are good. Due to the lack of funds in my account the settlement will be over a 2 month period but I still must say I'm very happy and impressed with Freedom to this point.
    0 Votes

  • 35x35
    Jul, 2009
    Kevin
    I never believed that within 2 years of time all my debt burdens would be lifted off my shoulders. Freedom Debt Relief helped me find my way through this debt settlement process.
    0 Votes

  • 35x35
    Jul, 2009
    Sandra
    Freedom Debt relief is a good service, the staff was very helpful all the time. Now I can open my mails and answer my phone without any worry. If you don't believe me, check out the positive feedback at Freedom Debt Relief Reviews.
    0 Votes

  • 35x35
    Jul, 2009
    Bill
    Your question may be quick but the answer is not. Look carefully at the contracts on the cards that contain both of your names. If you are joint holders of the accounts, then you are probably both responsible for the amount due. However, if you are the account holder and she is an authorized user, then she will probably have no liability. The answer may also depend on the type of program you are considering. Discuss the details of the two accounts in question with the debt consultation agent, who will give you an answer specific to your facts.
    0 Votes

  • 35x35
    Jun, 2009
    Robert
    Quick Question: My wife and I have about $60000 in debt on Credit Cards. About about 25000 is on a card that I just have in my name. We own our house but my name is NOT on the Mortgage at all. I want to do the program but the other 2 cards that we have are in both of our names and 1 just in hers. I want to avoid having her credit rating messed up. Is there anyway? is there a way to just have everything transfered into a CC in my name so it doesn't effect her work / credit? Help!!!!
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    Thank you for your kind post Maria. Bill
    0 Votes

  • 35x35
    Jun, 2009
    Maria
    excellent article you have written here. thanks for the informative and entertaining read. quotations are a great way to inspire you to perform at your best and to remember sage advice from the smartest minds in the world.
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    Thanks for the question Beth. As is clearly stated in the article: "In the spirit of full disclosure, we do consider Freedom Financial Network and it's related entities as sister companies and think very highly of the teams at Freedom." Freedom is indeed a sister company, which you can learn more about at www.freedomfinancialnetwork.com The "F" rating is something that the BBB has unfortunately employed against the entire debt negotiation industry, and we would advise consumers to make sure to select a company that is good as measured by TASC Accredidation (Editor's Note:TASC is now the AFCC), or industry membership in TASC and also a firm that is licensed and bonded. Good luck.
    0 Votes

  • 35x35
    Jun, 2009
    Sandra
    I am grateful to Freedom Debt Relief as you people helped save my marriage. My husband and I always used to have fights regarding the debt issue, now we are back to our romantic stress free days.
    0 Votes

  • 35x35
    Jun, 2009
    Charles
    I guess Freedom Debt Relief is an excellent option if you are want to go for debt settlement. My aunt took help of Freedom Debt Relief and she always tells how helpful they were.
    0 Votes

  • 35x35
    Jun, 2009
    Beth
    Why is it that the BBB has given Freedom Debt Relief an "F" and why does it state this on the report: "It has come to the BBB's attention that Freedom Debt Relief has continued to operate despite a desist and refrain order issued through the Department of Corporation on May 29, 2008." Why is the contact info listed as Andrew@bills.com.
    0 Votes

  • 35x35
    Jun, 2009
    karen
    Bill thanks for the info and Fdr did call me today and i called back and the gentleman was very very helpful. They are one of the best! i feelalot better after talking to them. Thanks alot
    0 Votes

  • 35x35
    Jun, 2009
    Allen
    The first thing that Freedom Debt Relief did was provide effective remedies so that I could manage my finances and start my program to settle my debts. Even the calls from creditors reduced after some time.
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    Karen, it sounds like your creditor sued you, and is attempting to obtain a judgment (proving that you owe the debt). This does happen, although infrequently in our understanding. If you have settlement funds available, I am sure that FDR can settle the account quickly. If you don't then ask them about your options about setting up a payment plan. Good luck and while creditors can really get under your skin, rest assured that you are in the best hands we know of. Bill
    0 Votes

  • 35x35
    Jun, 2009
    karen
    Iam enrolled in the fdrprogram since Feb.2009. Recently one of the creidtors on this program took us to court around first of June for payment, we went to court and the judge ask if we owed this debt and we confessed and he said he hope that fdr got us on the right road. The lady representing the creditor told us after court that she didn't realize that we were going through this program and that if she knew that it won't have went that far. I took all my paperwork from Fdr and showed her and she said she was mixed up and sorry, and she had papers from fdr and I showed her where they had sent them on Feb 26, 2009. I also was in touch with Fdr customer service and they helped me and i will call afer the hearing. I have called our representative at Fdr and told him about the summons of garnishmentand have talked to legalcustomer action dept. againleft message for negatitor to call me back. So now whathappens? THis collector is getting to me bad. Fdr customer serivce has been wonderful nice and very helpful and you do what Fdr tell you and these creditors just won't listen to you when you tell them what you are going through and what they need to do they are very annoying and says we don't do that. Does it ever end with creditors? I just don't answer anymore, unless it is FDR.
    0 Votes

  • 35x35
    Jun, 2009
    Bryan
    It is very nice to do business with a company which lives up to its promise. Being in debt is scary and difficult, I recommend everyone to go for Freedom Debt Relief who is facing debt challenges.
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    Your monthly amount is split into two portions, the majority goes to a savings account that you own which is used to build funds which will ultimately be used for you to fund lump sum settlement payments. These are typically for around 50% of the balance owed. Then your debt provider (freedom debt relief, in this instance) will have a service fee that they charge you for the first half of the program (on average). The fees go to the debt relief company. The rest goes into your settlement savings account. It is important to be aware that in a debt settlement program you are NOT paying your creditors, and the debt provider is not paying them monthly. Instead you are holding your creditors at bay until settlements can be finalized. This is why these programs are suited for people with financial hardship or who struggle to pay their bills. I hope this information helps you. Bill
    0 Votes

  • 35x35
    Jun, 2009
    Marti
    I am confused. I am checking into FDR right now. You explained to someone on the board that the creditors are not being paid for many months. What is the large payment per month that I was quoted going to pay for exactly? It's not all fees as the fees were explained to me. Please explain who is receiving my large payement if its not the creditors.
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    That's great Martin. Hang in there and good luck getting debt free with Freedom Debt.
    0 Votes

  • 35x35
    Jun, 2009
    Martin
    After I was laid off, i joined a low paying job and was not able to pay back my credit card debts. After a lot of research I enrolled into the debt reduction program from Freedom Debt Relief. Its been a great experience working with them and I am on my way to becoming debt free.
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    Karen, we are pleased to hear that the Freedom Debt Relief team is helping you get out of debts that you think that you would have never gotten out of on your own. Also happy to hear that they are nice and supportive. I'm not quite sure what your question regarding other creditors relates to, since if you have a zero balance on those accounts and they are cancelled the only really adverse impact is on your credit rating, which will take a hit during your debt program anyway. If your goal is to get (and to remain) debt free then I don't see a big problem, but let me know if I am missing something here.
    0 Votes

  • 35x35
    Jun, 2009
    Karen
    I joined Freedom 3 months ago, that is only 3 months that I stopped paying my credit card bills. I was making minimum payments and new I would never get out of debt. Freedom contacted me and I joined. The counselors are very supportive but I guess I was unprepared for the consequences this has had on my other credit cards. Credit cards that I have had in my possession for years with 0 balances have been cancelled by the creditors with the reason that they checked my credit rating. Freedom says they can't do this without my permission but the credit card companies say they can. Like I said it has only been 3 months, how can this happen so fast and why is it affecting credit cards that have been payed on or off with never a late payment? Do the collectors notify them?
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    Connie, you sound like a perfect candidate for Freedom Debt Relief's services. Debt resolution through negotiated debt settlement is really designed for people who cannot afford to pay off their debts and don't want to (or cannot qualify for) file for bankruptcy. It will hurt your credit rating, but it sure sounds like you already have less than perfect credit score, so that should be less of a primary concern. Typically a good firm (like a Freedom Debt Relief) will help you come up with a budget that sets aside savings which will be used for future settlements. This usually about half of what minimum credit card payments are, and then they use those funds to settle your debts for around half of what you owe getting you debt free in around 2 to 3 years. It's not a walk in the park, but like getting fit or sticking to a budget if you stick to it and are committed then you can find yourself debt free relatively quickly. Good luck Connie. Bills.com
    0 Votes

  • 35x35
    Jun, 2009
    Bill
    Thanks for the nice note Greg. Bill
    0 Votes

  • 35x35
    Jun, 2009
    Connie
    We have over $70K in unsecured debt - mostly current, but so many lates that our credit rating is really bad now, especially since most of our accounts continue to lower our limits down to our balance, so we appear maxed out all the time. Morally speaking, we feel we should pay for the purchases we ourselves made on the cards, but not including all the ridiculous overlimit fees and late fees, at the interest rates that we originally had when the accounts were opened. They've all been increased to 27-30% now, which will make them impossible to pay off. Is FDR a good course of action for us?
    0 Votes

  • 35x35
    Jun, 2009
    Greg
    I love bills.com and the customer service that they have to offer. There is always a professional that I can talk to about my financial issues and they all seem to truly care.
    0 Votes

  • 35x35
    Jun, 2009
    Molly
    I was working two full time jobs, and still going to lose everything I had. The people at Freedom Debt Relief turned the light back and I have hope again.
    0 Votes

  • 35x35
    May, 2009
    Bill
    Thank you for your comments. Stay involved in our blog and report back on your experience with Freedom Debt.
    0 Votes

  • 35x35
    May, 2009
    Smith
    By explaining Gracie the pros and cons of debt settlement you have helped a lot of people in making the right decision whether one needs to go for debt settlement or not. I would recommend my friends also Freedom Debt Relief if they ever want to go for debt settlement
    0 Votes

  • 35x35
    May, 2009
    Albertine
    I have several credit cards and have been making payments on time but I do have one credit card that I haven't made any payments on because I have a daughter that used my credit card to the limit before I even knew it. IT was intended to be a small amount but she promised to make all the payments. She did for the first few months but now I am left with the whole card. Paying this one extra card I cannot afford so I am thinking about Freedomdebt. Is Freedom Debt Relief the same as Freedomdebt.com?
    0 Votes

  • 35x35
    May, 2009
    Michale
    We were in a BAD financial situation, which was only getting worse and with the help of Freedom Debt Relief we are back on the road to financial freedom.
    0 Votes

  • 35x35
    May, 2009
    Glenda
    I just got the most wonderful birthday card from Freedom Debt Relief. They have been so nice and just made my day.
    0 Votes

  • 35x35
    May, 2009
    Bill
    You are welcome!
    0 Votes

  • 35x35
    May, 2009
    J
    Thanks Bill. Appreciate the response. The thing is I'm about 4 to 5 months past due now on most bills and actually have not heard anything at my workplace. Hopefully that keeps up but I have a feeling once these reach third party collections they might get sneaky that way. I have not put this current job on any credit card apps or even my mortgage company so I'm hoping that will slow them down. Although even the current collectors for the actual creditors have somehow managed to get ahold of my unlisted Tmobile line. I'll stick with it for the time being and go with the flow. Thanks again for the reply.
    0 Votes

  • 35x35
    May, 2009
    Bill
    Thanks for visiting our blog Andrew, we will make sure to pass your message to the good folks at Freedom debt Relief.
    0 Votes

  • 35x35
    May, 2009
    Andrew
    Being in debt is not only stressful, it's also a major headache. It does take some time to get rid of debts, but due to you guys at Freedom Debt Relief I am completely debt free now. Thanks for your support.
    0 Votes

  • 35x35
    May, 2009
    Bill
    Jeremy, you should try to avoid bankruptcy if at all possible. It is not legal for the creditors to call you at work, but it might need a written notice from you, for them to stop the calls. There is no need to panic, you have to give it some time as you will need to accumulate funds for the settlements. Freedom Debt Relief has a great customer service team; they should be able to help you in sending a notice to the creditor who is calling you at work. You can call them at 1-800-655-6303. Hang in there; it is too early in the program for you. As far as the fees are concerned, you should know that Freedom Debt Relief spreads the fees over a 19 month period, so you are not paying it all up front, but a portion of it at a time. The fee portion of the payment will be more in the beginning for about 3-4 months, but will be lower thereafter. Again, if you have any concerns at all, you should contact customer service.
    0 Votes

  • 35x35
    May, 2009
    Jeremy
    I posted on here a few months back and finally started up with Freedom. To this point they have been very helpful and friendly but what has been and still is my biggest concern is the chances of getting calls at work from creditors. By the time I finally signed up with Freedom I was already about 4 months late on my credit card bills. I've only had 1 month worth of money put into the account and all but 250 of it goes to the retainer fee. Is it very common to get called at work? I might be freaking out for no reason as it has not actually occurred but in reading online in various places it has made me actually start to consider a chapter 13 to avoid the situation. Any recommendations or suggestions? Thanks
    0 Votes

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    May, 2009
    James
    You people at Freedom Debt relief have exceeded my expectations by bringing down my debt levels to a great extent. Couldn't be happier than this.
    0 Votes

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    May, 2009
    Julie
    Thank you bill. You put my mind at ease about, and you are right that everyone at Freedom Debt has been pleasant to work with and they are helping me. I just wish this credit card debt was behind me.
    0 Votes

  • 35x35
    May, 2009
    Bill
    Hello Julie -- I'm sorry to hear about the difficulty that you are having with this creditor. From my experience with FDR, there is only one reason that they negotiate the type of payment arrangement that you describe--in the unlikely event that a creditor decides to pursue legal action to collect a debt. Basically, FDR is trying to prevent this creditor from taking even more extreme action, such as wage garnishment and bank levy. Although the payments are higher each month, you will also have the account paid off much, much faster than had you continued paying $40/mo; this means that you will pay much less interest over the life of the debt. Also, remember that FDR does offer its clients a money-back guarantee related to the amount of money you save while in the program, so if FDR is not able to counter-balance the high amount you are paying on this account with lower settlements on any other accounts you have, then you may be due a refund of part of the fees you paid to FDR. As for the interest rate being charged on the account, I encourage you to contact your FDR negotiator about it, as interest rates are often negotiable. Finally, keep in mind that even when a payment plan like this one is set up, you may still be able to settle the account if you are able to raise a lump sum or to save enough money to make a reasonable offer--there is almost always room for further negotiation down the road. If you are truly struggling with your monthly savings plan you agreed to with FDR, then bankruptcy may be something you should consider, in which case you need to talk to a bankruptcy lawyer in your area. If you can afford the savings and are worried instead about how much money you will save in the end, I would encourage you to try to move past this hurdle and allow FDR to continue negotiations with your other creditors. Remember, there is a money-back guarantee, which means that FDR has a strong incentive to save you money. If you have any questions, you should contact them and make sure that they fully address all of your concerns. I wish you the best of luck!
    0 Votes

  • 35x35
    May, 2009
    Bill
    Cheryl, you will not be able to leave out accounts. What you will need to do is either pay off the joint account or remove yourself as the joint user on that account (if you are only an authorized user). You have to understand that the success of a debt settlement program depends on convincing the credit card companies that you have are having extreme difficulties in paying back your debts, if you were to leave an account open, other creditors would see this and would refuse to settle on their accounts as they would see that you are still making payments on the one remaining account.
    0 Votes

  • 35x35
    May, 2009
    Eric
    Once you analyze your financial status, your income and your debt levels you need to make sure if debt settlement is the right choice for you. I thank Freedom Debt Relief as they first analyzed my financial condition, told me the different options I had and I found their debt reduction solution was right for me.
    0 Votes

  • 35x35
    May, 2009
    Julie
    One of my creditors seeked legal action, and the only negotiation they would consider was 80%, payable in 2 months. Of course I don't have anything close to that in my FDR account, not to mention that 80% is a far cry from the negotiations they advertise (40 - 60%). When I entered this program I was paying the creditor $40 / month... now I'll be paying $100 / month for 6 months, and then $300 until the debt is paid in full, with 24% interest rate, in order to keep them from garnishing my wages. At this point should I start reconsidering bankruptcy??? There's no way I'll be able to continue the payment when it reaches $300.
    0 Votes

  • 35x35
    May, 2009
    Cheryl
    I have 5 credit cards 4 in my name only. Can I enroll just the ones in my name and not the joint account. Trying to save my husbands decent credit. I'm the one who screwed everything up.
    0 Votes

  • 35x35
    May, 2009
    Bill
    Thanks for sharing your experience Mia!
    0 Votes

  • 35x35
    May, 2009
    Mia
    My experience with Freedom Debt Relief has been good so far, and I will be debt free within the estimated time they had given me while enrolling into their debt reduction program.
    0 Votes

  • 35x35
    May, 2009
    Bill
    I think that the model where you have a dedicated savings account forces the discipline to save funds monthly and really does increase the probability of success in a debt negotiation program like Freedom's or any similar model. You can set up a bank account in your own name at a bank that is FDIC insured and will hold your funds for settlement. This way if you terminate from the program, you have access and control over the saved funds and it forces discipline on you saving for funds for successful settlement. Good luck Sandy.
    0 Votes

  • 35x35
    May, 2009
    sandy
    Bill, are you referring to a savings account for FDR drafts or the special one set up for the fees and funds for negotiations? You mentioned not to use your personal account. Wasn't sure what you were referring to in the previous post. Thanks~
    0 Votes

  • 35x35
    May, 2009
    Sara
    When I was thinking bankruptcy was my only choice, Freedom Debt Relief's debt reduction program was like a boon to me. I appreciate the effort freedom debt relief put forth in negotiating with my creditors on my behalf.
    0 Votes

  • 35x35
    May, 2009
    Bill
    Jennifer, your consultation is free of charge and there is no cost or difference depending on which rep you use. Freedom Debt has over 550 employees and offices around the country, so you will get good advice no matter where you live. In response to your second question, it is standard and highly advised by many industry experts for you to set up a dedicated savings account. This helps with the savings discipline and increases your chance of success in the program. I know that Freedom Debt Relief uses this model to help you save, but if you want to use your own home checking account you can elect that option (although I would advise against it!) It is important to note that your account should be in your name and with a FDIC insured bank, so that you always control those funds. Good luck!
    0 Votes

  • 35x35
    May, 2009
    Jennifer
    I have a few questions. I have been "approved" with freedom debt to begin. Is it standard procedure to "set up" a bank account and sign power of attorney for that account? Also, if they have offices in Arizona, why is my rep in Florida?
    0 Votes

  • 35x35
    May, 2009
    Justin
    I tried to keep my failing business going by using my personal credit cards and by the time I pulled the plug, I had about $40,000 in credit card bills to pay. Freedom Debt Relief was able to reduce the balance to about $20,000 and I was able to pay it off in about 19 months. Thanks again for the great work!
    0 Votes

  • 35x35
    May, 2009
    Bill
    Glad to hear Sandy. Please report back when you graduate with your savings numbers and the final experience. Hang in there and congrats on getting on the path to debt freedom! Bill
    0 Votes

  • 35x35
    May, 2009
    sandy
    I have been with Freedom Debt Relief since October 2008.I am so pleased with the staff support, the results of the negotiations and the professional approach to each situation. I feel that bricks have been lifted from my shoulders.All the credit card statements go to their address. I keep my phone ringer OFF~ can see name of creditor on Caller ID and hear messages.I do not call anyone back!Just document for FDR. In essence~ I feel facing my credit card debt of $51,000 has been a team effort with FDR. They have been wonderful. I will probably complete te program in 2 years~much less time and money than projected.
    0 Votes

  • 35x35
    May, 2009
    Bill
    Thanks for the note Jonathan, however we do not take Hrefs. bill
    0 Votes

  • 35x35
    May, 2009
    Jonathan
    I’m not completely out of debt yet, but getting there. Your advise have been invaluable, thank you guys. After joining freedom debt relief now the calls from my creditors have also reduced.
    1 Votes

  • 35x35
    May, 2009
    Emily
    I was in a complex situation and had researched a lot of options that could help me. Initially I didn't know whether Freedom Debt Relief was my solution but now I know I have made the right choice. I am living in peace now and it wouldn't have happened if it weren't for a great team at freedom debt relief.
    1 Votes

  • 35x35
    May, 2009
    Bill
    Freedom Debt Relief does indeed do all of the servicing and settlements for its clients on its own. You are correct that many firms just do the front-end consultation process and then hand clients over to a third-party firm, but Freedom services its own clients and is very good at it. Good luck Nate.
    0 Votes

  • 35x35
    May, 2009
    Ryan
    What you are doing at Freedom Debt Relief to impact and change people's lives is just incredible. It makes you feel that you are not alone.
    0 Votes

  • 35x35
    May, 2009
    Nate
    I see so many websites promising a lot and then eventually transferring my account to another company for the actual negotiations. Does Freedom Debt Relief provide all the services in-house?
    0 Votes

  • 35x35
    May, 2009
    Bill
    Not always Willa. If you can easily afford your bills and do not have a hardship, then you should try to pay down your debts as quickly as you can self-manage, and possibly even try to get a debt consolidation loan with a mortgage refinance or other options. If you cannot get a loan and struggle with making your payments, then settlement may be the right course of action, but you can also evaluate bankruptcy or even credit counseling. I would need to know more about your situation to give you more specific information. Good luck. Bill
    0 Votes

  • 35x35
    May, 2009
    Willa
    is debt settlement with someone like freedom debt always the best path to go with if one has many debts? i owe slightly more than $42,000 in credit cards and medical bills.
    0 Votes

  • 35x35
    May, 2009
    Richard
    By answering Gracie's question with such detail you have made it clear whether one should go for debt settlement or not. As per my experience I feel debt settlement is one of the best option to go for when you have large debt. I recommend everyone to go with Freedom Debt Relief.
    0 Votes

  • 35x35
    May, 2009
    Bill
    I am glad that it was helpful Richard.
    0 Votes

  • 35x35
    May, 2009
    Bill
    John, that is a good question. I did some research on it. It so happens that even while you are in the program, you are allowed to retain just one credit card for emergency purposes, but the card cannot have a rolling balance and you have to limit your transactions just for emergencies. So this would be the account that you would have even after graduation. Now, once you graduate, being that you do not have most of your unsecured accounts, you can apply for more credit and I have heard of instances where clients have received offers as little as 6 months after graduation. What you have to keep in mind is that you have to get out of the habit of relying heavily on credit cards. If you are able to have that control, I am sure you can get approved for one or two accounts even after graduation.
    0 Votes

  • 35x35
    May, 2009
    Bill
    That's a good question Shari. If you determine that debt settlement is the best solution for you then Freedom Debt Relief really is one of the best companies out there to help you. They are large, have very good customer service, are settling over $20mm in debt a month and will work hard for you.
    0 Votes

  • 35x35
    May, 2009
    John
    One of the questions that I have is, that upon "graduation" from the program, are all of the "credit accounts" that I am encumbered with closed? Or is this a negotiable condition with each creditor, perhaps with a lower credit limit? It is awfully difficult to exist in the current environment with out some type of true credit card. In some instances a "checking / debit" card will not suffice. Unfortunately there are always situations in life that require an "emergency spend", family illness, transportation failures, or housing repair. Thank You in advance for your very informative and rapid response. John
    0 Votes

  • 35x35
    May, 2009
    shari
    Me and my husband owe out about 43,000.00 and I want to sign up with Freedom Dedt Relief, what should I do... Please help me
    0 Votes

  • 35x35
    Apr, 2009
    Bill
    Thanks David, we appreciate your input and feedback, however, do not take 3rd party HRefs. Please stay in touch and keep blogging!
    0 Votes

  • 35x35
    Apr, 2009
    David
    Yes debt settlement does help you in getting out of debt. Even I recommend everyone to go for freedom debt relief as one of my cousins has enrolled into their debt reduction program and he is pretty satisfied with their service. I am seeing the smile back on his face after years of hardship.
    0 Votes

  • 35x35
    Apr, 2009
    Bill
    Thanks William, we are glad we could help.
    0 Votes

  • 35x35
    Apr, 2009
    William
    After reading through all the above posts I have completely understood the pros and cons of debt relief. After analyzing all the different options, I have decided to go for freedom debt relief's debt reduction program.
    0 Votes

  • 35x35
    Apr, 2009
    Bill
    We think so, but here's what I'd do: call on your own and see if they really do have a 95% service level and if they really do answer customer service calls in under 5 seconds on average. Good luck Mark and let us know how your experience with ( Freedom Debt Relief) goes.
    0 Votes

  • 35x35
    Apr, 2009
    Mark
    This is pretty helpful feedback on Freedom Debt Relief, my question is are their cusomtomer service people as honest and nice to deal with as their debt consultants at enrollment?
    0 Votes

  • 35x35
    Mar, 2009
    Bill
    Stephina, you probably need to talk to a loan officer about a mortgage refinance. To qualify, you will certainly need to own a home with equity (typically more than 20% of the value of the home in equity, or an LTV of less than 80%) and ideally, in this market environment, you could potentially qualify for a conforming or FHA mortgage loan. Freedom Debt Relief, and other debt resolution companies, do not typically offer these loans and the concept of an unsecured consolidation loan has not existed in this credit crunch for quite some time. Good luck.
    0 Votes

  • 35x35
    Mar, 2009
    stephina
    The debt i have is due to my own mistakes. I owe the money and want to pay it off. What i would like is for someone to consolitate this debt into one loan, that i can make one payment to. I don't want anyone to settle for less that i owe. Does FDR do this kind of loan. Again this debt is mine and i want to pay all of it back.
    0 Votes

  • 35x35
    Mar, 2009
    Bill
    I'm not quite sure what your a referencing, but assuming you are wondering what will happen if a Freedom Debt Relief debt resolution program is not successful I have a bit of re-assuring info for you. First, the money you save towards settlements is yours and if you opt to save funds in Rocky Mountain Bank & Trust through GCS then the funds are FDIC insured as well. So you would have your saved money in the event you want to drop out of the program before graduation. Secondly, the most typical reason for program termination is a consumer who cannot even make the savings payments for the Freedom program and those consumers still have the opportunity to file bankruptcy as a last resort. I hope that helped and good luck.
    0 Votes

  • 35x35
    Mar, 2009
    Debt
    I am just am not sure if this will work,what if it don't then what? I will need to read up some more before I would feel comfortable with this!!
    0 Votes

  • 35x35
    Mar, 2009
    Bill
    We are glad to hear that Freedom Debt Relief is helping you and that you feel their service is good. The great news is that when the going gets tough (like a potential lawsuit) they are one of the best to handle it. I would expect that they will either settle if (if you have some funds) or will put the account on a payment plan (frequently called a stipulated judgment payment) and then settle it at the end of the program. There is likely a possibility that they can lower your payment for your savings account so that you make the payments for the lawsuit account plan too. Most importantly, make certain that they respond to you and keep you in the loop on the process. Hang in there and good luck Carol.
    0 Votes

  • 35x35
    Mar, 2009
    Carol
    I have been with FDR since Late December 2008 and their customer service is excellent. They answer phone calls right away and treat people with respect. I am just uneasy right now because I was served a summons and complaint from an attorney representing citifinancial and FDR is working the negotiation process. Of course I do not have enough funds in my account to settle at this time and informed FDR that I really cannot afford to pay more than what I am paying to FDR each month. I am really fearful of a judgment being placed on my wages. I am losing sleep and really stressing over this. What is FDR's success rate as far as settling these issues so a judgment does not take place? I guess I need reassurance that I did the right thing. Thank you.
    1 Votes

  • 35x35
    Mar, 2009
    Bill
    That is good that the Freedom program is helping with slowing the collection calls, and regarding Chase and legal accounts - the Freedom advice seems accurate. Many creditors threaten scare tactics, and if they did move forward with a lawsuit you would have to be formally served and would have plenty of time to settle the account or set up a payment plan in advance of getting a judgment (a creditor cannot just slap a judgment on without your knowledge). Good luck Linda and hang in there.
    0 Votes

  • 35x35
    Mar, 2009
    Linda
    I have been working with Freedom Debt Relief since November and most of the creditors have slowed down their constant calling but Chase has been pretty harrassing and have threatened that the account has been given to their attornies and that a Sherif would be delivering paperwork to me for a judgement that they were going to file against me. I called Freedom right away and they assured me that until I actually receive something to not be alarmed as it is usually a scare tactic. So far nothing more has come from Chase and I no longer answer their calls but I still feel uncomfortable that one day they will have this judgement put against me and I wonder is there anything more that can be done to assure this does not happen? Chase is the highest debt I had/around 11,000.
    0 Votes

  • 35x35
    Mar, 2009
    Barbara
    Thank you for your information. This helped me decide that debt settlement was the right choice, since I cannot afford to get another loan and cannot stand the collection calls I am getting. I just need someone to help me get on the right path.
    0 Votes

  • 35x35
    Feb, 2009
    Bill
    If you are in a debt settlement program, you cannot guarantee that you would never get collections from a law firm or a lawsuit, since you are not paying your bills on time. What you can do is to tell your debt resolution firm that under no circumstances can you ever get garnished and make sure that they settle any legal accounts or that they set up payment plans with you before anything reaches the point of a judgment. I do know that a firm like Freedom Debt Relief has a large and solid group of teammembers who take this responsibility of getting you out of debt and of meeting your needs very seriously and can help you manage the process. Good luck.
    0 Votes

  • 35x35
    Feb, 2009
    Matt
    How do you avoid a garnishment? I don't mind a few phone calls, but I would not want to have my wages garnished.
    0 Votes

  • 35x35
    Feb, 2009
    Bill
    Great news Anne and glad that Freedom Debt Relief helped you.
    0 Votes

  • 35x35
    Feb, 2009
    Anne
    Thank you Bill. In fact they did call me and then a supervisor contacted me to confirm that I had been helped. They confirmed that I am ok and have even settled the account for me. I appreciate your advice and want to let you know that they were great to me and helped out.
    0 Votes

  • 35x35
    Feb, 2009
    Bill
    We have notified FDR to contact you today. The quick answer is "no" they cannot take everything and you have several options on resolving this debt in a way that protects you. I am sure that Freedom will work with you to understand this legal account and what this means for you, they have a large and very solid team to help you in these situations. Good luck Anne.
    0 Votes

  • 35x35
    Feb, 2009
    Anne
    I just got a call from Zwicker and Associates telling me that they are going to take me to court on behalf of American Express - I told them that I am working with Freedom Debt Relieft - he was very rude and told me unless I can come up with a huge dollar amount per month I will lose everything and they can hold this against me for 20 years etc. I am worried about losing everything and being taken to court - can they do that while I am in the program. FBR is closed for Presidents Day and no one is available. Any info would be greatly appreciated.
    0 Votes

  • 35x35
    Feb, 2009
    Bill
    The decision is up to you, all you will be doing is borrowing form one place to pay the other. It might be good to look at your overall situation and actually assess your ability to make your payments and what the total time and cost to get free from your detbs will be in a couple of scenarios: 1. Minimum payments (what you are doing now); 2. Freedom Debt Relief or a debt settlement program; 3. Credit counseling; 4. Bankruptcy. You can get a free savings quote from freedom debt relief. They will look at your debt situation and advise the best course of action for you. You can call them up at 1-800-544-7211 or visit www.freedomdebtrelief.com.
    0 Votes

  • 35x35
    Feb, 2009
    Richard
    Our credit scores are over 800 but we are buried in debt from a failed business, nearly homeless, and the RV we've had for sale all year has rapidly dropped to being $20K upside down. I have enough in an unsecured credit line to pay the outstanding balance if we sell... Is it a better to do that route and then do FDR, or ask for a short sale, or just keep living in it and hide from the repo man?
    0 Votes

  • 35x35
    Feb, 2009
    Bill
    Freedom Debt Relief really does work for many people struggling with debts. They shared publicly that they resolved $22 million in debt and saved their clients millions just last month. Make sure that debt settlement is the right solution, and then test their responsiveness by calling their customer service line and confirming that their average hold time is under 10 seconds and that they will work hard for you. Good luck Mike.
    1 Votes

  • 35x35
    Feb, 2009
    mike
    Does freedom debit relief really work?I am thinking about enrolling with them becasue of finance hardship.
    0 Votes

  • 35x35
    Feb, 2009
    Bill
    Khris, your situation does not appear to be typical, but we will have someone from Freedom Debt Relief contact you to address your concerns ASAP.
    0 Votes

  • 35x35
    Feb, 2009
    Khris
    I have read through all of these posts...I must be that one percent that is NOT having a good feeling about FDR. I have been a client since Nov. 2006. I seem to be right back where I started---I have higher payments to 2 attorneys with less income as my employment went to part time with the current economy.
    0 Votes

  • 35x35
    Feb, 2009
    Bill
    That is great news Matt L, thank you for sharing and congratulations on saving your clients millions of dollars. Especially when the economy is so tough for many American families it is good to hear positive stories of people getting debt free.
    0 Votes

  • 35x35
    Feb, 2009
    Matt
    I'm in the settlement group at Freedom and just wanted to share some GREAT results that we are proud of on behalf of our clients: Negotiations settled 4,118 accounts in January breaking our previous record set last October by 12%. Here are some of the highlights from the month: Settled over $21mm in balances Non-Stipulation average settlement rate was the lowest ever at 42.6% FDR Clients saved millions because of our efforts Over 220 Clients had their last account settled and will now graduate our program Over 1,100 Clients saw their first settlement Settlement Team averaged 74.1 settlements per negotiator LARU resolved over 1,000 accounts 9 People broke the 100 Settlement level Bulk Settlement team set a record. Please don’t hesitate to send a note to the Negotiators congratulating them on their achievement.
    0 Votes

  • 35x35
    Jan, 2009
    KC
    You can contact FDR directly and they can explain how their fees work.
    0 Votes

  • 35x35
    Jan, 2009
    Nithin
    I think the fees are split up into installments and are included as a part of your monthly payment itself.
    0 Votes

  • 35x35
    Jan, 2009
    tina
    I am thinking of starting the program, how does FDR charge for their services?
    0 Votes

  • 35x35
    Jan, 2009
    Bill
    Freedom Debt Relief and Credit Solutions of America are both two of the largest debt settlement companies. First, decide if debt settlement is right for you. After deciding that debt settlement is right for you (cut your debts, low monthly cost, short time frame... but you will get some collection calls and your credit rating is impacted) then pick the best company for you. We did a review of Freedom Debt Relief here: http://www.bills.com/freedomdebtrelief/ Generally, Freedom Debt Relief has a much lower bbb complaint ratio and we believe that they have a much higher success and graduation rate, but decide what company is right and feels best for you. Good luck in your decision and let us know how it goes!
    0 Votes

  • 35x35
    Jan, 2009
    Jessica
    Do you have any info on credit solutions debt settlements corp? which company is better credit solutions or freedom debt relief, or are they equal? Please help
    0 Votes

  • 35x35
    Jan, 2009
    Bill
    unless you call your lender / credit card company and ask them to remove the late mark (which they will almost always do if it is only one week late), then it will show up on your credit report as an "R1" and will hurt your credit.
    0 Votes

  • 35x35
    Jan, 2009
    Greg
    When making a payment on a credit card, I miss the due date by, say a week; does that reflect negativily on my credit score, or does it only trigger the late fee? Thanks for your help...
    0 Votes

  • 35x35
    Jan, 2009
    Bill
    Your credit rating will be bad during the course of the program, but when you graduate all of your accounts will be recorded as "settled" or "settled in full" or "closed". You will have no more debt, your debt to income should be better and you can then re-establish your payment history with a mortgage, installment loan, gas card, or other types of trade lines.
    0 Votes

  • 35x35
    Jan, 2009
    dawn
    What happens to your credit rating once the program is finished? How is it reported?
    0 Votes

  • 35x35
    Jan, 2009
    Elise
    Freedom Financial Aided us in the recovery of our financial situation.  We had gotten behind in Credit Card Debt to the tune of $40k. We had no where to go and in desperation were looking at all of our options, including default.  We found Freedom Financial and they took care of us.  There service is impeccable, someone is always there to take your call who is both friendly and very knowledgeable. They made sure that we had the support and comfort of a professional in times of doubt and fear.   They shielded us from the threats and the scare tactics of the Credit Card Companies. They were  here for us every step of the way.  They educated us is the ways of the financial institutions. When one of the institutions contacted us directly with a settlement, Freedom Financial was all to happy in helping us to deal with them on our own.  They were always working on our behalf.  When a new program came into existence that would strongly benefit us, they called us to make sure that we participated.  We did not have the extra income to pay high settlements, so they found a way for us to make the payments in an amount that we could afford.  With the aid of Freedom Financial we settled one account for 20% of what we owed to them!!!  And all the rest for less then Half!!! and paid it off quickly.  They continue to be on our side.  Thank you Freedom Financial.
    0 Votes

  • 35x35
    Jan, 2009
    Bill
    FDR's program works based on the amount of money you can save on a monthly basis, the faster you save the faster you can finish the program. For example, let's say you have $30000 in total debt and FDR estimates that it will need $17000 to settle the debt, then it really depends on how soon you can save that $17000 to finish the program. So, if you were to borrow the $17000 from a relative, you can definitely finish the program faster.
    0 Votes

  • 35x35
    Jan, 2009
    Bill
    That really depends on whether any of those licenses take your credit profile into consideration. You have to keep in mind that the biggest negative with a debt settlement program is that your credit history (specifically your payment history) will be negatively impacted.
    0 Votes

  • 35x35
    Jan, 2009
    J
    Does FDR ever make arrangements for cresitors to take a fixed amount immediately- say I am going to borrow money from a relative to pay off debt but they can only lend me 60% of my total debt- so would they speak to creditors & get the amount lowered in order to become debt free. I can't see borrowing that amount of money & still having balances...
    0 Votes

  • 35x35
    Jan, 2009
    J
    Hi- great info here...cah using a compnay like FDR impact any licenses you may have for work, such as a Series 63 for finance or a law license for a lawyer??
    0 Votes

  • 35x35
    Jan, 2009
    Bill
    Yes, definitely. Freedom Debt Relief is part of Freedom Financial Network, which also operates Freedom Tax Relief (www.freedomtaxrelief.com), which deals purely in IRS tax resolution. Please give them a call at 1-800-455-6829 for a free consultation.
    0 Votes

  • 35x35
    Jan, 2009
    Kathleen
    Due to depression and anxiety, I have not been paying my creditors for several months. I owe 4 back mortgage payments. I owe around $42000 in credit card debt and $22000 to the IRS. I make decent money, but now have relatives living with me that I am trying to support as well. I called Chase and got set up on a payment plan to catch up my mortgage, but haven't called my other creditors yet. Besides helping with credit card debt, can Freedom help with my IRS debt?
    0 Votes

  • 35x35
    Jan, 2009
    Bill
    The agreement with your creditor is typically called being put on a "hardship program" where they will lower your interest rate and monthly payment. This program will not impede your ability to enroll with Freedom Debt Relief, assuming that you are still struggling with your debts. Be aware, however, that your "hardship program" is very different from Freedom's debt settlement program. With Freedom, you will be lowering the actual principal amount that you repay, but to achieve this you will not be making monthly payments and will go delinquent with your creditors. Freedom's program is a good one for people who are in financial hardship and need a way to get debt free for the lowest cost, and for a lower monthly payment, while avoiding bankruptcy... but it is not a completely painless process. Good luck getting out of debt and starting fresh! Bill
    1 Votes

  • 35x35
    Jan, 2009
    Gail
    I spoke with Freedom Debt Relief today to inquire about help with my debt. Last month, one of my credit card companies agreed to lower my interest rate is I allowed them to take out automatic payments every month for a certain amount of money for a year. I agreed thinking this might be easier and less expensive. However, when I received my statement the payment due is actually less than the amount they want to take out of my account. Two questions -- First, would it be better for me to go back to my original interest rate and try to pay the amount on the statement? Secondly, if I do go with FDR, would this be a problem since I have tried to work out some kind of solution with this company? My husband and I have always tried to pay out bills on time, but with today's economy our money is not going as far. We would like to be out of debt and start fresh. Any help would be appreciated.
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    Thanks for the opinion Eddie... any color on this one? I forwarded your name and email to Freedom Debt Relief's customer service department and you do not appear to be a client, or have never applied for help in their system. We'd be happy to forward your information on to them to make sure that they take care of you if there is something legitimate that you need help with.
    1 Votes

  • 35x35
    Dec, 2008
    Eddie
    Freedom Debt Relief is not a good option they take money out of people that are already in a bad situation
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    If you are current on your payments, can afford to make your payments easily and want to continue making your monthly payments - then Freedom Debt Relief and or a debt settlement program is probably not the right solution. When you enroll in a debt resolution program like Freedom Debt's program, then you will not be making your minimum monthly payments. Instead, you make contributions into a savings account which is used by your debt negotiators to settle accounts for a discount to the face value of the principal (usually around 40-50% of what you owe, at the time of settlement). It will hurt your credit and you will certainly get some collection calls. But, it will also help you if you cannot afford payments and if you need to get debt free fast. That is the tradeoff. Good luck & happy holidays!
    0 Votes

  • 35x35
    Dec, 2008
    Lee-ja
    If I am current on my credit cards but I am really struggling to pay them every month, is this something that I should consider.One other question will the credit card people still call me even if I am current on my payments while the program is trying to settle my debt ?
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    You should get straight answers from Freedom Debt Relief (and if you are not, then that is a problem)... but basically you cannot settle an account for a discount that you are current on. When your accounts are past due, your creditors will try to collect on the account (including sending them to collection agencies) and through that process are willing to accept less than face value for the debt payment - but creditors are not set up to receive partial payments for a reduced balance over a long period of payments. That is why you must save money in a bank account that will be used for those lump sum payments. In a nutshell, that is how it works. If you can afford to just payoff your debts, though, a debt settlement program might not be suited for you. I hope that helps. Good luck.
    0 Votes

  • 35x35
    Dec, 2008
    Ken
    I'm considering using Freedom Debt, but I don't quite understand how it works. For example, why would I not be making payments for months and having collectors calling? Is the not making of payments some kind of "leverage" to get to creditors to accept the terms? How do the creditors receive their negotiated payoffs? I do apologize for being so ignorant, but this is all new to me.
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    No, they are two different types of programs, but they both help you with debt. Freedom Debt Relief deals in debt settlement (http://www.bills.com/debt-settlement/). Care one Credit deals with credit couseling type of a solution (http://www.bills.com/credit-counseling/).
    0 Votes

  • 35x35
    Dec, 2008
    snowball
    Is Freedom Debt Relief better than CareOne Credit Counseling? I have talked to both, and I want an opinion. Do they do the same thing for me? Thank you Bill.
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    That is great Ms. P. Congrats on getting almost debt free and stay that way when you do graduate!
    0 Votes

  • 35x35
    Dec, 2008
    Bryiony
    I just finished my 5th settlement out of my 6 credit card accounts that I enrolled. I got sued on one of my cards, but Freedom still settled it but that one was for a higher amount (maybe like 65%) than what they quoted me. Stil, I'm close to being done and I think that I will be on track for what they quoted me. Also, you are right. The collectors are a pain in the butt in the first 3 months or so. At least this whole thing will be over soon.
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    Jeremy - it is likely that you will get calls, and there are a few things that you could do. First, you could have Freedom send cease & desist forms. These are not perfect solutions, but should help mitigate calls over time. Secondly, you can use a script or talk off telling anyone who harasses you that you know your rights under the FDCPA (fair debt collections practices act) and that you will document any violations. Lastly, you can change your contact info. It will certainly help, but through what is called 'skip tracing' some smart collectors will still find their way to you. The best thing that you can do is get your debts resolved as quickly as you can afford to do! Good luck. As stated, while not a perfect program we think that for folks with big debt balances who are struggling that Freedom Debt Relief is a good option, and I'm glad that you are doing your homework and going in with your eyes wide open to the benefits and the cons of a debt resolution program.
    0 Votes

  • 35x35
    Dec, 2008
    Jeremy
    I'm about to embark on a 42 month program to settle roughly 32000 in credit debt. My question is with regards to the collection calls that will almost certainly come, would it be a good idea to change my home phone or change the contact number on all of my accounts to say a cell phone? Would collectors eventually find their way to me anyhow? This is the most worrisome piece for me even more then the credit rating hit. I currently have about a 640 to 650 FICO depending on the credit report and current on everything. Other question is, what if this gets sent to a lawyer, how would a company such as Freedom Debt Relief help with the situation? Thanks in advance for any advice.
    0 Votes

  • 35x35
    Dec, 2008
    Thanks
    Thanks for your input Cathy.
    0 Votes

  • 35x35
    Dec, 2008
    Amanda
    Freedom is was upfront and honest to me on the telephone consultation, they compared credit counseling, debt loans, and freedom debt relief programs. I can't afford anything and have to file bankruptcy, but they helped me understand my options and why I didn't qualify.
    0 Votes

  • 35x35
    Dec, 2008
    Bill
    Jeremy, Freedom should be better suited to answer for you -- but they have a team that will help resolve your debts and your issues even if accounts go the legal route. Good luck.
    0 Votes

  • 35x35
    Dec, 2008
    Jeremy
    Thanks Bill. My last question would be, what if one of the creditors decides to go the legal route? Can anything be done to mitigate that? THanks again Jeremy
    0 Votes

  • 35x35
    Nov, 2008
    Laurie
    Just graduated, woooo-hoooo! I will never get back into debt again, thank god this is behind me. I'm celebrating by opening up a savings and investment account! God it feels good to be debt free.
    1 Votes

  • 35x35
    Nov, 2008
    tom
    First of all in regards to the BBB and everything. Number one on the list of complaints with the BBB is anything Financial. So lets do some math. Everybody is complaining about something they probably were disclosed about when signing up. Meaning its possible that a company can sue. Well guess what. YOur trying to settle on things you have already bought. ITS A TOTAL RISK ON YOUR PART. There are no guarantees and if a company tells you there is then thats when you run. So back to the mathon Freedom debt relief. I called for fun and they told me that they have roughly 50,000 clients enrolled. They have about 450 employees. Someone said above that they had 68 complaints. Ok so 68/50,000= .00136. Move the decimal point over 2 places and you get .1% complaints for possibly 50000 clients. Does that really seem like a big number? I dont work for them but it doesnt look to bad. But i just did a search on the BBB for Bank of America and found that they had 5538 complaints. So should we not bank there? I mean you have to know the risks. There is no get out of jail free card. Use a company that does not charge up front fees so you can save quicker in your account if you dont want to do it yourself. Just my thoughts......
    0 Votes

  • 35x35
    Oct, 2008
    Karen
    Hello Bill, I thank you very much for this information. Thank you, Karen Th.
    1 Votes

  • 35x35
    Oct, 2008
    Freedom
    It is very unlikely that in today's current credit environment that anyone without excellent credit will get approved for a reasonable auto loan. Certainly while in the midst of a Freedom debt settlement program your ability to get a traditional auto loan would be very limited, so you should take this into consideration. The reality is, however, that if you have substantial credit card debt your debt to income might currently impair your ability to get a loan. Debt settlement is primarily for people whose number one objective is to get debt free fast with a low cost, and are willing to accept that their credit rating will be impaired through the program.
    0 Votes

  • 35x35
    Oct, 2008
    Sharon
    I am seriously considering FDR. My car is pretty old and I can't even think of buying another one in the credit card debt I am in right now. While on the program will I be able to buy another car since I might have a little extra money each month?
    0 Votes

  • 35x35
    Oct, 2008
    Bill
    Keep in mind that you cannot enroll a new account into a debt settlement program. An account has to be at least 6 months old and have at least 6 good faith payments on that account before you can enroll it into a debt settlement program. If you want a complete assessment of your situation, you should get a free consultation from the counselors at Freedom Debt Relief.
    0 Votes

  • 35x35
    Oct, 2008
    Leo
    Thanks Bill! You are doing great enlightening job for folks like myself. My Q may sound too weird, but I'll ask anyway. I have $20K credit card debt and also paying off another debt to my 401K plan. What if I'll pay-off the 401K with a lump sum borroved from credit company (kind of a debt consolidation), and then immediately turn to FDR's help? Thanks
    0 Votes

  • 35x35
    Oct, 2008
    Bills
    Thank you for your perspectives.
    0 Votes

  • 35x35
    Oct, 2008
    Eric
    Look, I've been with Freedom for a few years and they have been great to me. They call me. They return my calls. They've saved me more than I expected. It's not a walk in the park, but I owe the debt and I take responsibility for being a part of the solution. I can also say that I will never get into this debt problem again in my lifetime, but I am very glad that Freedom is on my side so that I can get out of debt.
    0 Votes

  • 35x35
    Oct, 2008
    CraigSmith
    I actually work for Freedom Debt Relief and I think we are a great company helping thousands of people. I don't know who mostly posts on these chats, but here is one perspective. We are one of the largest, and the owners of the Company preach constantly about ethics and about taking care of our clients. Our average customer service hold times are less than 10 seconds, our service levels average 95% and we settle about $15 million in debt per month. As an employee, I'm proud of this Company and we won a spot as a Best Places to Work in Phoenix and San Francisco (I don't think a place that cares that much about its employees and clients can be bad). I know that a lot of people take shots at anybody, but if I had debts and needed help I would call Freedom Debt Relief way before I contacted anyone else. That's the truth.
    0 Votes

  • 35x35
    Sep, 2008
    Bill
    Freedom Debt Relief is certainly one of the largest and most estabilished in debt resolution, however, few places publish verifiable statistics on client base. I think that they are one of the best. In pure size, debt consolidation refinance mortgage companies and some credit counseling firms are much larger than any debt settlement firms, but those are very different solutions.
    0 Votes

  • 35x35
    Sep, 2008
    Frank
    Is Freedom Debt Relief the biggest in debt settlement? ANyone else that I should consider?
    0 Votes

  • 35x35
    Sep, 2008
    Bradford
    You have a tough decision, since you have a high credit score (you are a 'prime' borrower at 718). Your trade-off is essentially the lower payment and savings with a program like Freedom Debt versus the credit impact and the consequences of not paying your bills. In reality, a debt settlement type of program is for people who have financial hardship and cannot afford their debts -- and if you get a loan and then make those payments you should consider that. Also, a typical program through Freedom Debt Relief or another type of debt relief program will certainly last about 2-3 years, so if your goal is to buy a home within that time period, this type of program would negatively impact your ability to get a mortgage and buy a home. Do what is best for you, but it sounds like your best option may be to get the loan and just pay the debts off in full.
    0 Votes

  • 35x35
    Sep, 2008
    Greg
    I have around $25,000 in credit card debt. I filed bankruptcy once before about 12 years ago (yeah I know I should have learned). My credit rating is around 718 last time I checked. I have an opportunity to get a loan through my bank to pay off the debt. I'm debating if I should get the loan to pay off the credit card debt (but I'd still be in debt the $25,000 plus interest) or just go with something like FDR. I used to own a home but due to a divorce we sold the place and am currently renting. I'd like to buy a home again in the next couple years. Any idea what the best option would be in my situation? Thanks for your help!
    0 Votes

  • 35x35
    Aug, 2008
    AndrewLee
    You would need to look at your contract, but very rarely does Chase cross collateralize mortgage debt against credit card debt. This should not be a problem, but ask your debt consultant when you get your consultation. What you should be concerned about is that in some states where Chase has legal operations, they can be an aggressive creditor (meaning that they might sue you). You should be aware that you can always send a Cease & Desist form and a work harassment form upfront (which Freedom Debt does for you, I believe) to minimize the chancne of getting any calls at work. Depening on your state of residence, the original creditor may be bound by FDCPA. Being in debt stinks, but at least you are on a path to getting out.
    0 Votes

  • 35x35
    Aug, 2008
    James
    I have two credit cards (among many others) with Chase with total balances of about $35,000 (total credit card debt is about $80,000. My mortgage is also with chase, would going into debt relief with FDR cause me any problems with my mortgage? It is a fixed rate mortgage. Also would creditors or collectors potentially call me at work and "air my laundry" to my coworkers & bosses?
    0 Votes

  • 35x35
    Aug, 2008
    Bill
    Adraina, you have to realize that while you are in the program, you will not be making any payments to these creditors, therefore you payment history is going to look bad on your credit report. But once you finish, you should start the process of re-building your credit. You can look into http://www.bills.com/credit/ for tips on how to improve your credit. You will need to give it atleast a year or two, for you credit to completely get back to the level that will be good enough to get you a low rate on your mortgage. If you want to accelerate the process, you can look at employing the services of a credit repair firm such as Lexingtonlaw.com.
    0 Votes

  • 35x35
    Aug, 2008
    Adriana
    I am about to join FDR (16K of credit card debt).My plan is to pay it off within 1.5 years.I also have a house in a another state which is about to get re-possessed... I got transfered with my company to CA 19 months ago. The house has not sold yet and I just can't afford two homes any longer. My question is how long (approximately)can I anticipate my credit score to be low and what can I do to get back on track as soon as possible? Thank you,
    0 Votes

  • 35x35
    Aug, 2008
    Bill
    Mark, I cannot take the decision on your behalf. You need to make the call depending on what your current situation dictates. The impact on your credit is going to be way shorter that the time it will take you to pay this debt back. Also, ask yourself this; what are you going to do with that pristine credit rating, if you are struggling to pay the debts as it is? The advantage here is that you will be able to get this debt paid off in a reasonably short amount of time at the cost of negative credit in the interim. You can rebuild your credit once you finish the program. As far as Freedom Debt Relief is concerned, they are the leaders in this field, you can check out a review that we have done here: http://www.bills.com/freedomdebtrelief/.
    2 Votes

  • 35x35
    Aug, 2008
    Mark
    I am wondering what I should do. I am about to join the freedom debt relief program, but do not know if this is the right thing to do. Should I continue to fight tooth and nail and pay off every penny I can come up with towards my two bills, about $25,000, which could take years, or bite the bullet and pay significantly less, for less time, but with negative credit with this program? Also, would you say they are the most reupttable out there? Thanks.
    0 Votes

  • 35x35
    Aug, 2008
    Bill
    I suggest that you read through the debt consolidation resources page available at http://www.bills.com/debt-consolidation/. There are many forms of debt relief, and it really depends on your individual situation to see which one fits your needs, the best. I also suggest that you call teh folks at Freedom Debt Relief, for a free consultation so that you can explore your options in detail, you can reach them at 1-800-544-7211 or at http://www.freedomdebtrelief.com.
    0 Votes

  • 35x35
    Aug, 2008
    kim
    I have about $50k in credit card debt, plus I owe doctors, state/federal taxes, plus other items here and there. All debts are current, but my credit rating is low due to the credit card companies changing my credit amount to match my balance which maxed me out. I work a temporary job that might become permanent, but would probably be for less money. Every month I get so stressed trying to figure out how to pay the bills and worry about upcoming car taxes and other bills - is debt relief the best way to get out of this mess? I have never not paid my debts, but this time I am over my head due to the real estate market plunging and being a casualty of it. Thanks for the advice.
    0 Votes

  • 35x35
    Jul, 2008
    Bill
    Bryan, you are actually a prime candidate for debt settlement, which is what Freedom Debt Relief specializes in. I think you have a slight misconception about the debt falling off of your credit report. In actuality, what you are referring to is quite possibly the Statute of Limitations. What that means is that, if the Statute of Limitations has expired (7 years) on your debts then, the collectors cannot collect on that debt anymore. Although true, this does not mean that everything automatically disappears, it just means that if the creditor ever decides to sue you in court, the court will dismiss the case based upon the Statute of Limitations having expired, which you will have to prove to them. I think that if you go through a settlement company such as Freedom Debt Relief, they will be able to negotiate really low payments for you and it will help you credit to recover in the long run.
    0 Votes

  • 35x35
    Jul, 2008
    Bryan
    I am seriously considered Freedom Debt Relief, but have a question about how it would benefit me in my particular situation. I have 7 creditors that I stopped making payments to 4 years ago and over about $30,000. I have heard that "bad credit" disappears from your Credit Report after 7 years after it appears. Is this correct? If so, should I hold out for another 3 years and let it drop off, or I am really benefiting by paying the debt off in the next three years, because if I do, will it show on my credit report as "slow" or "bad" credit for another extended period of time after Freedom Debt settles my accounts? All the info on this site is awesome. Thanks!
    0 Votes

    • 35x35
      Feb, 2011
      kim
      Yes it takes 7 years but after the 7 years another company buys the debt and repost's it to your credit reports. Dont believe it will go off after 7 years I am proof. This has happened to me it will be reposted.
      0 Votes

    • 35x35
      Feb, 2011
      Bill
      What you just described is illegal under the Fair Debt Collection Practices Act.
      0 Votes

  • 35x35
    Jul, 2008
    Tommy
    Thanks, I chose to join with Freedom Debt Relief and the experience has been good.
    0 Votes

  • 35x35
    Jul, 2008
    SamIAM
    Sounds like Freedom Debt Relief is just what America needs to get off of it's debt problems. Did you see this New York Times article: http://www.nytimes.com/2008/07/20/business/20debt.html?em&ex=1216785600&en=b1d6623c5fbc4ded&ei=5087%0A# Debt is hurting American families and we all need debt relief.
    2 Votes

  • 35x35
    Jul, 2008
    Bill
    I think that you need to think about what that good credit rating is getting you and then debate what that high DTI and high debt balances are getting you. I would posit that if you really do have terrible debt loads and a high DTI, then your credit 'score' is meaningless since no lender would extend credit to you since your credit 'profile' looks bad. I think that you should focus on financial health from a cashflow and wealth building standpoint (you can't buy groceries or retire on a credit score but cash is what matters) and get debt free as fast as you can. If you paid off your debts in 3-5 years with debt relief instead of 15-20 years, just think that you could rehabilitate your credit rating and all of those savings would compound over 10+ years and you would have a down payment (lower LTV) and a lower DTI and more cashflow! Get debt free first is my advice.
    2 Votes

  • 35x35
    Jul, 2008
    Lee
    I have good credit perfect payment history but awful DTI and will be in debt for years to come paying only the minimum payments on my card does debt relief sound like a realistic option for someone like me, since I will never make late payments?
    0 Votes

  • 35x35
    Jul, 2008
    Jack
    Debt Relief is a short term hit to your credit, and ultimately results in a resolution to your debts. Bankruptcy (assuming that you can even qualify for a Chapter 7 bankruptcy, in the post-bankruptcy reform era) is a public record document that stays on your credit report for 10 years and can be seen by employers, landlords, government agencies, etc. It should really be used as a last result (the lifetime costs of bankruptcy are sometimes higher than any other debt resolution option) - but BK can be the right solution in some instances. If you really are considering bankruptcy, you should get advice from local counsel or a bankruptcy attorney. Good Luck!
    0 Votes

  • 35x35
    Jul, 2008
    Jeff
    What are the pros of going with debt relief vs. bankruptcy? They both ding your credit for a long time. Why would I choose one over the other?
    0 Votes

  • 35x35
    Jul, 2008
    Mario
    I've had a very good experience with Freedom Debt Relief. They call me to make sure everything is fine, i've had nothing but good people talking to me, and now I am getting my debts resolved. Thank you very much for referring me to Freedom Debt.
    0 Votes

  • 35x35
    Jul, 2008
    Bill
    Tommy - You are correct, that Freedom Debt Relief is a good company. They employ a debt resolution solution that uses negotiated debt settlement. The upside is that you can get debt free faster and for a lower cost than your best alternatives (typically with a low payment) - but one of the downsides is that you will not have good credit while in the program. If you already have bad credit, then that really removes one of the negatives of the program, so it makes the decision easier. Still, make sure that this is the right solution for you (low payment, cut debts, debt free fast... but hurts credit and may involve collection process from creditors). If it is the best solution, then Freedom Debt Relief is probably the best company to go with. Thank you for the nice comments too.
    0 Votes

  • 35x35
    Jul, 2008
    Tommy
    I am strongly considering using Freedom Debt Relief to get out of my debt "creator" I have dug myself into. My biggest concern is the poor credit rating during the negotiations That I hear so much about. However... I already have poor credit because of may high balances and low income to debt ratio. So...I shouldn't worry about the short term poor credit if in the long term it will improve my finacial status...right? PS. Great info on this site! Thanks!
    0 Votes

  • 35x35
    Jun, 2008
    Bill
    In a negotiated debt settlement program, the company you are working with negotiates a lower, one time settlement payment to the creditors based on the hardship you are going through. Yes, debt settlement effects your credit negatively because, during the life of the program, no monthly payments are made to the creditors, only one time settlement payments are made based on your savings into the program. If you cannot afford to keep up with the monthly payments on even a settlement program, then I'm afraid bankruptcy would be the only other way out.
    3 Votes

  • 35x35
    Jun, 2008
    Park
    In a debt settlement program, no payments are made to the creditor until the creditor reaches a settlement agreement on your account; this means that your credit will take a downturn in the initial time of the program. Now, if your income increases after you have started the program, making direct payments to your creditors is not going to help get your credit back but will minimize the damage going forward. My suggestion is to talk to your settlement company to see where you stand as far as the negotiations go. Remember that you might have already paid for the fees for the service, so you might as well use what you have paid for. The good thing is that given your capability to save more (if your income has increased), you should be able to finish the program even faster.
    0 Votes

  • 35x35
    Jun, 2008
    Christine
    Just wondering about how the FDR works. I am confused about how they eliminate so much of the debt owed and doesn't that negatively effect your credit report? Also, if their reduce payment to them is still going to leave me on a very tight budget is it still a good idea?
    0 Votes

  • 35x35
    Jan, 2008
    gregoryb
    Credit rating and credit scores (in particular FICO scoring) is complicated, so no one can tell you how quickly a score will change. Since you will have delinquencies on your credit report, it will likely take several reporting cycles to really come up. BUT - most lenders only use credit scores as a proxy for credit worthiness, and things like loan to value (do you have equity to put down) and debt to income (DTI - or what amount of your income goes to debt) could be a lot better if you get your debts paid off fast. You should really just apply and see what kind of loans you will qualify for after you graduate from your Freedom Debt Relief debt settlement program... but there is a chance that you will have improved your odds of getting a home (depending on your credit score and payment history when you enter the FDR program and on how much debt you have).
    0 Votes

  • 35x35
    Jan, 2008
    sam
    How long after i pay my debt off with freedom debt relief will my credit rating get better? Will I beable to purchase a house as soon as it is paid off?
    33 Votes

  • 35x35
    Oct, 2007
    ethan
    We did a little research on Freedom Debt Relief, but you should also do your own homework. We think that they are one of the best, and endorse them as a debt settlement and debt negotiation provider. #1. There are no upfront fees. #2. They appear to be one of the only companies that has a service fee money back guarantee. #3. That doesn't mean that everything is a walk in the park... with any debt settlement program, not paying your creditors will hurt your credit rating and can result in collection calls and other collection efforts (but Freedom Debt Relief is one of the companies that try to help hold the creditors at bay with creditor notifications and Cease Communications forms). #4. The only debt resolution tactic that has no impact on your credit is to pay your bills. If you can afford to pay off your debts, then you really should do that. Debt settlement is for people who are struggling with financial hardship, and that is who freedom debt relief normally works with. #5. Freedom Debt Relief's agents are all certified by the IAPDA (and Freedom is one of the few Platinum IAPDA certified organizations) and Freedom is an Accredited industry member. #6. Freedom has audited financials and they are a bonded organization. #7. Review the review on Bills.com for Freedom Debt Relief. They do appear to be one of the best. Here is their website to check them out on your own too: ( Freedom Debt Relief) I hope this helps you.
    3 Votes

  • 35x35
    Oct, 2007
    Suzanne
    I have a question regarding Freedom Debt Relief. I am considering using Freedom Debt Relief and they've helpful through the process, but I want to do the right thing with my debt problem. Is freedom debt relief the best debt relief option for me if I cannot pay my bills currently?
    13 Votes

    • 35x35
      Jan, 2011
      priya
      There are three major companies that are in the business of collecting and distributing credit histories on all Americans. If you're an average American, it's more than likely all three companies have a credit history report on you.
      3 Votes

  • 35x35
    Dec, 2007
    Bonnie
    This information has helped me alot.I just today, have joined. My husband is working, but the jobs he gets are all short jobs, and temporary, with no stability. I guess we joined the rest of the world, HUH? thanks again.
    4 Votes

  • 35x35
    Mar, 2008
    Bill
    Really, if you cannot refinance your home or get a debt consoliation loan - then the logical next step is to try to juggle balances with zero interest balance transfers (but you're right, that they are hard to get approved for). Beyond that, you could try to get an unsecured loan (but that will get you more high interest rate debt and just compound the problem). You should probably at least speak to a debt counselor about options and see if you can just get out of those debts. Best, Bill
    0 Votes

  • 35x35
    Mar, 2008
    John
    You mentioned that the best way is to pay off your bills. However, many of us are trying unsuccessfully to do that. When we try to take advantage of low interest balance transfers to get a more favorable position, we always get turned down. Again, please...any other options to consider (excluding home equity, bankruptcy, borrowing from a relative, etc.) before employing a debt relief service? Thanks for the insight. John
    5 Votes

  • 35x35
    Jul, 2009
    Lenny
    Freedom Debt Relief has not only helped me in reducing and getting rid of my debts but also has taught me on how not to get into trouble again. Your advice has been really helpful.
    1 Votes