U.S. News Freedom Debt Relief Review

U.S. News Freedom Debt Relief Review

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You’ve settled on debt relief as a way out of the mess you’re in, but you have no idea which company to choose to help you. You’re wise to be cautious, as the industry attracts its share of bad actors who aim to prey on your financial and psychological vulnerability. Fortunately, most debt relief companies are legit. Here’s a U.S. News Freedom Debt Relief Review of one such company.

What is Debt Relief?

Let’s start there. It’s a financial approach for people like you who are up to their ears in unsecured debt (credit cards, department stores, personal loans, medical, etc.). With debt relief, also called debt settlement, you enlist a company to negotiate with your credit card issuers and other creditors to settle your whole debt for less than the total due.

While creditors aren’t obliged to work with you, they usually do since they realize they get nothing if you file bankruptcy, your other option. Debt relief is a way to avoid bankruptcy, which has a lasting effect on credit.

How Does it Work?

You’ll be asked to deposit funds monthly into a dedicated savings account that you control. At length, those funds will be used to settle each of your accounts. It’ll likely take you between two and four years to complete the program, depending on your debt load and saving ability. With Freedom Debt Relief, you’ll need at least $7,500 in unsecured debt.

Will Freedom Debt Relief Hurt My Credit?

No. The process of debt relief will scuff your score, but only temporarily. Your credit will rebound once you complete the program and get your spending under control. And be honest: your credit hasn’t been stellar in some time now.

What is Freedom Debt Relief?

It’s a company that you hire to do what’s described above. Is Freed Debt Relief legit? you might ask. Well, the company’s been around since 2002 – a lifetime in this age of short-lived cons. Since then, it’s served north of 650,000 people like you and resolved more than $10 billion in debt.

Oh, and the company’s accredited – another important sign of legitimacy – by the American Fair Credit Council, which works to ensure that its members adhere to a set of standards. Freedom is also accredited by the International Association of Professional Debt Arbitrators.

How Much Does Freedom Debt Relief Charge?

Upon each settlement, and only then, you’ll pay between 15% and 25% of your enrolled debt. The average fee is 21.5%. What you’ll wind up paying depends on your debt size and state of residence. It’s against the law to seek payment up front although some scam companies do so.

How Does Freedom Debt Relief Treat Its Customers?

According to the U.S. News review, Freedom has an average of 4.5 out of five stars on the Consumer Affairs website, based on more than 5,300 reviews. Not shabby at all.

What Can I Do Online with Freedom Debt Relief?

If you’re interested, you can complete an online questionnaire to learn whether your debt is a fit for Freedom. The company also has a “dashboard” that you can access 24/7 to check on your settlement progress.  

What Kind of Debt Does Freedom Debt Relief Accept?

In addition to debt from plastic, store cards, medicals and personal loans, Freedom occasionally handles debt settlement relief for private student loans and business debts. If you go through repossession or foreclosure, Freedom can add your loan balances to your program.

So, according to facts laid out by the U.S. News Freedom Debt Relief review, you can see that Freedom is a bona fide, established, reputable company, ready and willing to help people like you. Give the company a call today.