Freedom Financial Debt Relief Reviews – Luke Daugherty is a freelance writer, editor, and former executive. He covers personal finance, operations, marketing and sustainable business as well as many of his personal passions. His work, The Authors and Ghosts, has appeared in The Balance, CNET, CIO Magazine, Entrepreneur, and more.
Accredited Debt Relief is a Dallas-based debt management company with over 12 years of experience helping customers achieve debt relief. The company is accredited by the U.S. Fair Credit Council and has helped more than 300,000 customers repay more than $3 billion in debt since its founding in 2011.
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There are many options to choose from if you default on your debt, and debt settlement can be one of the more expensive options. However, sometimes the best way to chart a path to financial freedom is with the help of a reputable and proven debt relief company like Accredited Debt Relief.
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Read on to learn more about accredited debt relief and see if debt settlement is right for you.
An Accredited Debt Relief Agency will negotiate the amount and terms of the debt with your creditors to create a revised payment plan. Before you begin, the company offers a free consultation to evaluate your outstanding balance, debt type, and delinquencies to consider the best options for you and create a plan personalized. In addition to debt settlement, the company also offers debt consolidation and loan services to help you get out of debt.
If you decide to proceed with debt settlement, the Accredited Debt Relief Agency will pause payments on your registered debt while specialists negotiate with your creditors to reduce payments or change the rules. Typically, you begin making monthly payments into a designated savings account to pay off your debts after you and the creditor agree on the terms.
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It is important to note that Accredited Debt Relief Agencies only provide debt settlement services for unsecured debts such as credit cards, personal loans and medical bills. The company cannot borrow secured debt, such as mortgages or auto loans, which are tied to specific collateral. Likewise, federal student loans are not eligible.
To apply for Accredited Debt Relief’s debt resolution program, you will need at least $10,000 in unsecured debt. In most cases, you have to pay late or have some kind of financial difficulty that makes it difficult for you to pay off your debt.
Debt settlement companies like Accredited Debt Relief are for-profit businesses, so their services are not free. While the exact amount varies by state, the Accredited Debt Relief Agency is required to pay 15%-25% of the total debt on file. The company will only receive payment from your savings account once your debt has been settled; You do not pay the company anything upfront.
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Smaller fees may also be incurred for opening and maintaining a payment account. These are common among debt resolution services, but Accredited Debt Relief does not disclose those fees on its website.
Because the company has to negotiate separately with each creditor, the debt settlement process can take quite a long time. Depending on the amount and nature of your debt, the size of your outstanding balance, and how open you are with your creditors, the negotiation process usually takes between 12 and 48 months with debt reduction being achieved. recognize.
Choosing to reduce debt is a big decision, and the process can have a significant impact on your long-term financial situation. The good news is that Accredited Debt Relief has one of the best reputations in the business.
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The company is accredited by the US Fair Credit Council and has an A+ rating from the Better Business Bureau (BBB) and a Trustpilot rating of 4.9/5 stars. Accredited Debt Relief has received just 12 complaints from BBB customers in the past three years and the company has responded quickly and tried to resolve the issue.
The specially accredited Debt Relief Agency is known for its excellent customer service. Customers can access a variety of debt relief resources on the company’s website, and your specialist will guide you through the process via phone and email.
Resolving debt can be an important step toward financial health, but it’s not without risks. On top of that, this process can have a severely negative impact on your credit score in the short term. Especially if you currently have a high score, you could see a significant decrease if you stop making payments during the negotiation process.
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Some creditors are less open to negotiation and may sell your debt to a collection agency or write off the debt. Either way, your credit will be affected differently. However, your score will start to improve once you pay off these debts and the negative information will gradually fade from your credit history. In the end, your credit score will be better than when you started, especially if you’re slow on payments from the start.
The cost of settling debt is another important factor to consider. In addition to the amount you owe the debt relief agency, you may also have to pay taxes on any debt you don’t owe. If you are sued by a creditor, you may have to pay court fees. In some cases, these costs may exceed the amount of debt that can be forgiven after settlement.
Before starting the process, it is important to review all terms and conditions and consult with legal and tax experts.
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Debt settlement isn’t the only option if you’re having trouble making payments. You should consider all options for debt reduction, including:
If you’re having trouble keeping up with your credit card payments or unsecured debt, Recognized Debt Relief may be a viable option for you. The company stands out by offering strong customer support and not charging upfront fees when negotiating lower salaries. Accredited debt relief typically reduces a client’s debt by 45% and gets them out of debt within one to four years.
However, if you’re in debt, it’s important to explore all of your options. Debt settlement can be expensive and there are no guarantees. The short-term impact on credit can also make it difficult to qualify for new loans. Before choosing a debt relief course, you should consult with an attorney or financial advisor.
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Is debt consolidation harmful to your credit? 13 min read The best debt management companies 12 min read Freedom Debt Relief Review 10 min read Millions of other people have been where you have been. Our Freedom Debt Relief reviews show how much our customers trust us to help them succeed.
From struggling with debt to getting your life back on track, the testimonials below show how our customers have used Freedom Debt Relief to reduce their debt.
Working with Ozzy through his online dashboard, Freedom Debt Relief helped him resolve over $31,000 in debt over several years.
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With a clear plan, Molly resolved her debt of more than $27,000 with monthly payments that were much lower than what she had to pay her creditors.
Patti’s team at Freedom Debt Relief was able to help her eliminate her $17,000 debt burden. Now, the money you pay with your credit card goes towards your savings and future.
These reviews are filmed and submitted voluntarily by customers, recounting their personal success stories. * Actual customers. Customer testimonials are paid testimonials. Individual results are not typical and may vary.
Atlas Debt Relief
The type of debt relief offered by Freedom Debt Relief is known by many names: debt settlement, debt negotiation, and debt settlement. Debt relief allows you to settle unsecured debt (debt that is not secured by collateral, such as a car or house; most commonly credit card debt) by negotiating with the creditors. debt and debt reduction. You can negotiate with your own creditors or use a debt relief program like Freedom Debt Relief to help resolve your debt.
During the debt reduction process, you typically voluntarily stop paying your creditors and save money in a special purpose account (what Freedom Debt Relief calls your “dedicated account”) used to hold the money used to pay off your debt. Once you have saved enough money in this account, the debt relief company you hire will contact your creditors to negotiate a debt settlement amount that is lower than the amount you currently owe.
Freedom Debt Relief can help with credit cards, medical bills, store cards and many other types of unsecured debt (debt that is not secured by collateral, like a car or home). Our program cannot help with secured debt, which is debt that has collateral (such as car loans and mortgages). We also cannot service federal student loans. We support private student loans and some business debt on a case-by-case basis.
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Debt relief costs vary by industry and are typically a percentage of the original debt amount or a percentage of the amount you agreed to pay at settlement.
Freedom Debt Relief fees range from 15% to 25% of the registered debt (the amount of debt to be paid) – the rate may vary depending on the state you live in and the amount registered.
In our program, our customers do not pay any fees to FDR until the debt is negotiated and the settlement is approved.
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