Freedom Debt Relief Review 2020: Should You Consider Debt Settlement?

Last updated Sep 10, 2020 | By Team FBZ

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Why Freedom Debt Relief

☑️ Freedom Debt Relief (FDR) offers expert advice and has settled over $10 billion in debts and enrolled more than 600,000 clients

☑️ It is the largest debt settlement services provider in the U.S. and has all major industry accreditations

☑️ Freedom Debt Relief offers multiple debt settlement and debt consolidation services

What They Offer

Freedom Debt Relief has settled over $10 billion in debts since their founding in 2002. It is the largest debt settlement services provider in the U.S. with accreditation from all major industry leaders.

They offer multiple debt settlement and debt consolidation services in a total of 33 states and can be a great option for many consumers.

What is debt settlement and who should consider it?

Debt settlement means negotiating with creditors to as a means to get out of debt. People who consider debt settlement are typically struggling with heavy debt.

What is debt consolidation and who should consider it?

Debt consolidation means rolling all existing debt owed into a single monthly payment, ideally with a lower interest rate. People who consider debt consolidation find the idea of making single payments appealing.

Freedom Debt Relief Overview 

  • Most new clients have at least $15,000 of debt
  • Average client debt: $25,000
  • Upfront costs: None
  • Price: Averages 20% of client debt
  • Timeframe: 2 to 5 years
  • Savings Estimate: 20% to 35% after fees

How Freedom Debt Relief Works

Freedom Debt Relief (FDR) works with creditors on your behalf to negotiate and reduce the amount of unsecured debt owed.

Most new clients have a minimum of $15,000 of unsecured debt, with averages hovering around $25,000.

Answer these four questions to see if you qualify.

Unsecured Debt vs. Secured Debt

Like other debt relief companies, Freedom Debt Relief is only able to help with unsecured debt. 

  • Unsecured debt includes debt from credit cards, medical bills, personal loans, private student loans, etc.
  • Secured debt involves collateral, such as car loans, federal student loans, mortgages, etc.

How to Get Started

To sign up, take this easy quiz at Freedom Debt Relief. In four quick questions, you will receive personalized results to help determine which path could be right for you.

The first question you will answer is “How much do you owe?” with a drop-down to select your answer.

What to Expect Once the Process Starts

If Freedom Debt Relief is the right fit for you, you will be invited to enroll and work with a representative to design a program that you are comfortable with and enables you to resolve debt in less time.

1. Build. First, you will gather all unsecured debts and build a Dedicated Account as a foundation for your personalized program. You will be in complete control of this account, which can be monitored using your online Client Dashboard.

2. Negotiate. Next, FDR works on your behalf to negotiate debt down with creditors owed. Together, they discuss how much your debt could be reduced and arrange a settlement that offers the most savings possible. Each time a settlement is reached, you will be immediately contacted for authorization.

3. Settle. Finally, once your full settlement amount has been paid on each account, and creditors have reported your settled accounts to the credit rating bureaus, your account will be settled.

Your debt will be behind you!

Pros of Freedom Debt Relief

  • No upfront fees. Pay nothing until after debt is settled
  • Personalized service. You will work with one debt settlement consultant who knows your situation
  • Great reviews. Most reviews are positive and highlight good customer service with knowledgeable representatives and quick resolutions
  • Highly experienced and accredited. They have over 14 years of experience and are accredited with the AFCC and the IAPDA
  • Money-back guarantee

Drawbacks of Freedom Debt Relief

  • Currently only available in 33 states
  • Potentially High Prices. Like other competitors, clients may pay an average of 20 percent of total debt to use FDR
  • Complaints. While most reviews are positive, some clients have complained about the length of time it takes and cost of services

Find Out How Much You Can Save

It’s easy and fast: Take this short quiz to see how much you can save and to figure out how to pay off debt to finally put it behind you.

Real Client Testimonials

“Everything was a very simple process...they made me feel very secure.” - Rita J.
“We worked together and they laid out a program for me to get through this.” - Gary G.
“They didn’t seem pushy or aggressive...they made me feel really comfortable.” - Anne Marie C.
“A great place for us to hit the reset button on our financial well-being.” - Julie M.

Disclaimer: This content and the opinions expressed here are the author’s alone and have not been provided, commissioned, or endorsed by any financial institution. All information was accurate at the time of publication but terms and conditions may change at any time.

Freedom Debt Relief Benefits

  • Recommended for debts $27,000 and higher
  • Resolve your debt in as little as 24 - 48 months
  • They've helped save their clients over $2 billion
  • Over 600,000 customers and counting