Freedom Debt Relief Review

Is Freedom Debt Relief trustworthy? And is it worth the hefty price? These questions, and more, will be answered in this review. Read on.

Freedom Debt Relief can help reduce your debts in 24-48 months. You can count on experienced debt negotiators to negotiate with creditors on your behalf.

The catch is that the fees can be expensive. You can end up paying up to 25% of your total enrolled debt for Freedom Debt Relief's services! That doesn't even include the fees for your account.

So, is it worth it? Read on to find out.

What Is Freedom Debt Relief?

Freedom Debt Relief is a debt relief company that offers debt settlement services and has been around since 2002.

It has resolved over $18 billion worth of debts. Plus, it has helped over 1 million clients to date.

On average, clients pay $378 monthly for a 4-year program with Freedom Debt Relief. This results in an estimated savings of $205/month for an enrolled debt of $20,000.^[1]

To know more about debt settlement, scroll down.

Freedom Debt Relief Services

Freedom Debt Relief primarily offers debt settlement. In debt settlement, debt negotiators negotiate with creditors to reduce unsecured debts clients need to settle.

Before you start the service, you'll have a free debt evaluation first. Then, you'll get a personalized program breaking down your monthly payments and program timeline.

Freedom Debt Relief has helped many clients, working on thousands of debts and accounts every month. Clients that complete the program don't only save from their growing debt, but end up settling multiple accounts at once.

Albeit helpful for a million people, Freedom Debt Relief's service isn't for everyone. This is how you know it'll work for you.

Who is it best for?

Freedom Debt Relief is best for you if you have at least $7,500 worth of unsecured debts.

Examples of unsecured debts include:

• Credit cards
  
• Medical bills
  
• Department store cards
  
• Personal loans

If you want to know which of your debts can qualify, you can book a free consultation with Freedom Debt Relief's debt consultants.

Having said this, just because you qualify doesn't mean you should go for it. Here's why you may want to skip on Freedom Debt Relief.

Who should skip Freedom Debt Relief?

You should skip Freedom Debt Relief if you don't want your credit score to drop. Debt settlement, Freedom Debt Relief's primary service, can impact your credit negatively.

That said, Freedom Debt Relief may suggest other options if you don't qualify for debt settlement. They may suggest you go for credit counseling, bankruptcy, or debt consolidation loans instead.

If you're on the fence about Freedom Debt Relief's services, these pros and cons may help you decide.

Pros And Cons

Pros

• Reduce debts, interest, and other fees
  
• Settle debts in 24-48 months
  
• Program Guarantee
  
• No credit requirements
  
• A+ rating and accreditation from BBB^[2]
  
• Accreditation from AADR^[3] and IAPDA^[4]
  
• Referrals for debt consolidation loans, credit counseling, or bankruptcy

Cons

• $7,500 minimum debt requirement
  
• Unsecured debts only
  
• Creditors can sue you for unpaid debts
  
• Creditors are not required to settle
  
• Your credit score may drop
  
• Debts may accrue interest and penalties
  
• $9.95/mo service fee for your dedicated account

Convinced by the pros? Read on to learn how Freedom Debt Relief's process works.

How Freedom Debt Relief Works

The debt settlement process is all about negotiations. Do these 5 things to get started:

1. Sign up for the free consultation.
   A consultant will evaluate your debts during the free consultation. If you wish to proceed, Freedom Debt Relief will create a personalized program for you.

2. Create a dedicated account.
   Your dedicated account is where you will make your monthly deposits. You'll use the accrued funds to pay off your debt. Note that there's a $9.95 setup fee for this account.

3. Stop paying your debts.
   Before negotiations and deposits start, you need to stop paying your debts. This way, your creditors will be more open to negotiations with Freedom Debt Relief.

4. Deposit payments monthly.
   As you make your deposits, Freedom Debt Relief negotiates with your creditors. Negotiations can take weeks or months.

5. Accept (or don't accept) the negotiated debt amount.
   Once Freedom Debt Relief and your creditor make a settlement, you will get a notification in your account.

   If you accept the new amount, you can settle the debt with the funds from your dedicated account. If you don't accept, however, Freedom Debt Relief can renegotiate.

If you enroll multiple debts, remember that you need to deposit payments monthly until you settle all of them. The entire program can last 24-48 months.

Freedom Debt Relief may help you lessen your debts through the debt settlement process. But at what cost?

Pricing and Fees

Freedom Debt Relief charges 15–25% of your total enrolled debts as settlement fees.^[5] These fees are part of your monthly deposits.

In addition, your dedicated account comes with a $9.95 setup fee and an account servicing fee of $9.95/mo.^[6]

So, are these fees worth it?

Is Freedom Debt Relief Worth It?

Freedom Debt Relief can be worth it if you owe a lot of unsecured debts. Professional negotiators talk to your creditors so you can pay off your debts for up to half the original amount.

The more you owe, the more debts Freedom Debt Relief can negotiate for you, which can lead to more savings.

However, note that the fees are percentage-based. So the more unsecured debts you enroll, the more expensive the fees. These fees can be a huge chunk of your monthly deposits.

Account fees can be a drawback, too. Other debt relief companies don't have these extra fees.

How to Sign Up for Freedom Debt Relief

To qualify, you need to have at least $7,500 of supported unsecured debts.^[7] You can sign up in 3 steps:

1. Schedule a free consultation.
   
2. Choose your debt amount and the state you live in.
   
3. Enter your first name, last name, phone number, and email address.

Once you complete your sign-up, you will be redirected to Freedom Debt Relief's contact channels.

Can Freedom Debt Relief Be Trusted?

Yes, you can trust Freedom Debt Relief. It has been in business for more than 22 years. And it has helped over 1 million clients, relieving over $18 billion in unsecured debts.

On average, Freedom Debt Relief resolves over 45,000 accounts per month. The company has a team of over 500 debt consultants and over 200 certified debt negotiators who negotiate with creditors on behalf of clients.^[8]

In addition, Freedom Debt Relief is accredited by the American Association for Debt Resolution (AADR) and the International Association of Professional Debt Arbitrators (IAPDA). It also has an A+ rating from the BBB.

Here's what the clients say about this company.

Customer Reviews

Freedom Debt Relief generally has good feedback from its previous clients. For example, Cristy mentioned that the company has relieved a huge portion of her debts.

On the other hand, Tara experienced the opposite. Instead of saving money from signing up with Freedom Debt Relief, she experienced a lot of surprise fees.

Freedom Debt Relief has mixed reviews from clients. Always remember that debt negotiations don't guarantee big savings.

What Freedom Debt Relief guarantees is that you get experienced debt negotiators talking to your creditors.

If you encounter issues of your own or have some questions, here's how you can connect with Freedom Debt Relief.

Customer Service

You can get in touch with Freedom Debt Relief through different channels. Call them on the phone or send an email.^[9]

For prospective clients:

• Phone: 800-910-0065; available from 8 AM to 11 PM EST on Monday–Friday, and 9 AM to 9 PM on Saturday and Sunday
  
• Email: info@freedomdebtrelief.com

For current clients:

• Phone: 800-655-6303; available from 8 AM to 9 PM EST on Monday–Thursday, 8 AM to 8 PM on Friday, and 10 AM to 8 PM on Saturday and Sunday
  
• Email: support@freedomdebtrelief.com

For business matters:

• Phone: 800-230-1553
  
• Email: info@freedomdebtrelief.com

You can also visit Freedom Debt Relief's office at 1875 S Grant St. #400, San Mateo, CA 94402.

How Freedom Debt Relief Compares

If Freedom Debt Relief is not fit for your needs, there are other options you can consider.

Freedom Debt Relief vs. National Debt Relief
National Debt Relief is one of the biggest competitors of Freedom Debt Relief. Like Freedom Debt Relief, you need to have at least $10,000 worth of unsecured debts to sign up.^[10]

That said, National Debt Relief qualifies more types of unsecured debts than Freedom Debt Relief. If you owe bank loans from previous banks, back rent, or veterinarian bills (over $500), National Debt Relief is a better fit.

The two debt relief companies cost the same. Expect to pay at least 15–25% in fees based on your total enrolled debts.^[11]

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Freedom Debt Relief vs. Accredited Debt Relief
Accredited Debt Relief offers debt settlement services and debt consolidation options. You need at least $10,000 worth of unsecured debts to sign up (unlike Freedom Debt Relief's minimum debt requirement of $7,500).

What's more, Accredited Debt Relief is a better option if you are considering debt consolidation. Accredited Debt Relief is affiliated with many lenders who can offer you a debt consolidation loan.

If your credit is in good standing, you may qualify for up to $100,000, with much lower interest rates and longer repayment terms. That way, you can focus on one payment with lower fees than other debts you've settled.

Freedom Debt Relief vs. Debt Management Plans (DMP)
If you are looking for a much cheaper alternative, credit counseling agencies are better options. They offer debt management plans with a one-time setup fee and a maximum monthly fee of $75/mo.

Debt management plans are meant to help people manage debts. Credit counselors negotiate with your creditors to reduce fees and interest. But they don't negotiate your original debt amount.

Freedom Debt Relief primarily offers debt settlement services. But they may also refer you to credit counseling agencies if needed.

Debt Settlement Alternatives

No matter which company you sign up with, debt settlement doesn't come without its risks.

Your debts continue to accrue fees and interest during negotiations. All the while, there's no guarantee that your creditor will agree, say "yes!" and let you settle with a lower payment.

As such, if debt settlement is too risky for you, explore these other services Freedom Debt Relief also offers:

• Debt Consolidation Loan
  Freedom Debt Relief may refer you to lenders for debt consolidation loans. A debt consolidation loan is a large loan with a smaller interest rate compared to your other loans. Use it to settle several other debts at once.

• Credit Counseling
  You may also be referred to credit counseling agencies. They can guide you and make a debt management plan (DMP) for your qualified debts.

  Credit counselors will create a repayment plan to help you settle your debts one by one.

• Bankruptcy
  In worst-case scenarios, you may get referrals for bankruptcy. This way, you can legally declare your debts and discharge them. However, bankruptcy has its limitations and you may end up impacting your credit for a long time.

Bottom Line

Freedom Debt Relief is one of the most established debt relief companies. It has been around for more than 2 decades, with hundreds of certified professionals.

To ensure that you get the most out of your service, you need to complete your program. That way, Freedom Debt Relief can negotiate with all your enrolled creditors to decrease what you owe.

Having said that, keep in mind that the bigger your debt is, the larger your settlement fees may be. It's best to ensure you have the budget for these fees, including the fees for your dedicated account.

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