Here’s a summary of the service offerings, requirements, and other terms for this debt settlement company. If you’re considering working with Freedom Debt Relief, it’s important to know how the service works and what you can expect. This is done on a case-by-case basis, so you’ll need to inquire about your specific situation. Business debt: In some cases, Freedom Debt Relief can assist with business debt settlement.Private student loans: Private student loan debt is another area that Freedom Debt Relief can help with if the burden to repay your student loans becomes too great. Personal loans: If you’re struggling to pay off unsecured personal loans, your creditor may be willing to negotiate for debt settlement.Department store cards: Freedom Debt Relief can help negotiate with retailers where you have a department store credit card.If you’re getting calls every day from debt collectors, debt settlement can help you negotiate these bills and get them paid off. Medical bills: If you are unable to pay your medical bills, they can quickly go to collections and hurt your credit.If you have maxed out credit cards or are juggling multiple bills, Freedom Debt Relief may be able to help you settle this debt. Credit cards: Credit card debt typically comes with some of the highest interest rates, making it hard to manage.Here’s a summary of what they can help you with: You must also have at least $7,500 of unsecured debt to use Freedom Debt Relief. Unsecured debt consists of loans and accounts that you didn’t have to use collateral to obtain. Also, continue making at least the minimum payment on your debt and make sure you fully understand the benefits and drawbacks of the program you’re considering.Īlternatives to debt settlement include setting up a debt management plan, consolidating credit cards, or looking into bankruptcy.įreedom Debt Relief Cons Doesn’t help with secured debts (mortgages or auto loans) Fees range from 15% to 25% of the settled debt amount Debt settlement could lower your credit score Not available in all states Types of Debt Covered By Freedom Debt Reliefįreedom Debt Relief only works with unsecured debt. While debt settlement can work, it’s essential to make sure you’re working with a credible company with a proven track record. This could lead to additional fees from creditors, which could negatively impact your credit. Editor’s Note (Warning)ĭebt relief and debt settlement companies can be risky in that they might charge high fees upfront or ask you to temporarily stop paying your debt. In this Freedom Debt Relief review, we’ll go over the programs the company offers, pros and cons, as well as how Freedom Debt Relief stacks up against other debt relief services. As one of the best debt relief companies of 2023, Freedom Debt Relief could help you save 15-35% of your total amount owed. If you’re struggling with unsecured debt - including credit card debt, medical debt, or personal loan debt - Freedom Debt Relief can help you reduce and consolidate your debt into one monthly payment.
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