While debt relief can be expensive, in general, Freedom Debt Relief’s fees are comparable to other debt relief companies. The few negative complaints come from customers who were confused about how the program works or complained of high fees. However, many are from customers who have recently signed up - rather than those who have completed the program. N/A Freedom Debt Relief reviews and complaints BBB accreditedĤ.35 out of 5 stars, based on 1318 customer reviewsĤ.5 out of 5 stars, based on 37,707 customer reviewsįreedom Debt Relief gets mostly positive online reviews from customers. How Freedom Debt Relief compares to other lendersĬompare Freedom Debt Relief’s rates, terms and features to other debt relief providers. Collection agencies are often willing to accept a lower payment on your debt to close the account. If you can pay a portion of the bill, offer the collection agency a one-time payment as a settlement.
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Look for free debt-management help from nonprofit organizations like the National Foundation for Credit Counseling. Companies you owe may be willing to extend your payment due date or put you on a longer payment plan. Depending on the company you work with, you might pay other fees for third-party settlement services or setting up new accounts, which can leave you in a worse situation than when you signed up.Ĭonsider alternatives before signing up with a debt relief company: And not all companies are transparent about these costs or drawbacks that can negatively affect your credit score. Private student loans and business loans may be eligible on a case-by-case basisĪFCC, IAPDA, Financial Health Network memberīefore you sign up with a debt relief companyĭebt relief companies typically charge a percentage of a customer’s debt or a monthly program fee for their services. $7,500 to $14,000, depending on your stateĬredit card debt, medical bills, other unsecured debt Freedom Debt Relief details Free quote or consultationĭebt relief using direct negotiation with creditors Read our guide on building credit for more ways to boost your score. If you spend recklessly after settling your debt, you’ll find yourself in the same - if not a worse - position. Whether your credit score can benefit from debt relief depends on your spending habits. Will Freedom Debt Relief hurt my credit?ĭebt settlement in general could damage your credit score, but it can also help you rebuild your credit in the long run by clearing up some of your debts. If you stop making minimum payments on your credit accounts, interest and late fees will add up. This works out to a fee of $3,600 to $6,000 on the average customer’s balance.īut the cost can be higher if you don’t make payments on your debt. You must enroll a minimum of $7,500 to $14,000, depending on your state - though the average customer enrolls $24,000. How much does Freedom Debt Relief cost?įreedom Debt Relief charges a fee of 15% to 25% of the debt you enroll in the program. However, it offers a program guarantee that if your total program settlement cost is more than the total amount of debt you enrolled in, it’ll refund you the difference up to 100% of Freedom’s collected fees. People who drop out of the program also often end up in deeper debt than when they originally enrolled. And in some cases, you could end up owing more. If you stopped making payments to your creditors, you won’t see as much in savings.
And savings varies on a case-by-case basis.įor example, savings are calculated when your account is settled. All international money transfer servicesįreedom Debt Relief doesn’t advertise the average savings for customers who enroll in its program.
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