Can You Trust Freedom Debt Relief Reviews?

Consumers who are struggling with debt and are seeking a solution are always advised, before signing on with a service, to read what is said about it. Perhaps you’re considering Freedom Debt Relief to help you with your problem. But can you trust Freedom Debt Relief reviews? Yes, and here’s why.

What Is Freedom Debt Relief?

Freedom Debt Relief (FDR) specializes in helping individuals who are wrangling with high-interest unsecured debt from sources including credit cards, personal loans, medical bills, and private student loans.

As the nation’s largest debt settlement provider, FDR negotiates with creditors to slash the amount of debt you owe.

How FDR Works

First off, eligibility requires a minimum total debt balance of $7,500. The company recommends enrolling any credit card that has a balance of at least $500. Upon enrollment, a typical new client has more than $25,000 in unsecured debt from eight credit cards, according to Nerd Wallet. Unsecured debt totals range from $7,500 to more than $100,000, and some FDR customers have more than 20 credit card accounts.

 

The Debt Settlement Process

FDR is a debt settlement company, so the process at FDR is like that of most debt relief firms. After you enroll in the program, you cease making payments to creditors and instead deposit cash monthly into a federally backed account that you control. The company works with you to figure out the amount to be deposited, based on your ability to pay and the enrolled debt sum.

 

Once you have enough money in your account, FDR will begin talks with each creditor on your behalf to try to get them to accept less than what you owe. Because you have stopped paying your creditors, they are usually motivated to accept the lower amount. They also know that if you file for bankruptcy, they get nothing.

 

If your creditors agree to the lower payoff amounts, you pay them from your savings account. Then you pay FDR its fee, which ranges from 15% to 25% — the industry standard starts at 18% — and is based on the amount of enrolled debt. You also pay $9.95 to establish your account, and a monthly fee of the same amount for account servicing.

 

As with any debt relief program, be aware that stopping payments means you’ll accrue late fees and interest charges, and your credit score will tumble. But then again, you are in a serious pickle to begin with.

 

Settlement Time Frame

According to the company, you can usually complete the program in two to four years. Unlike some other companies, which only offer set program lengths from which to choose, Freedom Debt Relief can customize your program length based on your goals and budget. Check out Freedom Debt Relief testimonials

, which attest to this.

 

The Facts About FDR

FDR’s debt relief program is available in more than 75% of the nation. To date, more than 650,000 people have enrolled. Since 2002, more than $10 billion in debt has been resolved.

 

What’s more, the company is a founding member of the American Fair Credit Council, which promotes best practices in the credit advocacy industry. It was also involved in establishing 2010 Federal Trade Commission rules that prohibit abusive debt settlement practices.

 

So, can you trust Freedom Debt Relief reviews? Since there are tons of positive reviews out there, the answer is yes. While there are no guarantees in life – or in debt settlement – the longstanding debt relief company offers its longevity and the volume of clients it has served as proof of its legitimacy and effectiveness.

Previous articleFzMovies – HD Movies Download Hollywood & Bollywood Movies FzMovies Website latest news and update
Next articleDownloadhub 2021 -Free Bollywood & Hollywood HD Movie Download Latest Downloadhub Dual Audio Movies Updates