- Debt minimum
- Repayment term
- 24 - 48 months
- 15% - 25% of enrolled debt
Freedom Debt Relief (FDR) has been in the debt settlement industry for over 15 years and has resolved over $15 billion of debt. Additionally, it is a founding member of the AFCC. The company has an impressive number of experts, too — over 550 certified debt consultants and over 200 debt negotiators.
Freedom Debt Relief will negotiate a minimum of $7,500 in unsecured debts, though that amount varies by state. Unlike some of the other debt settlement companies, Freedom Debt Relief can sometimes help settle business and private student loan debt. This is evaluated on a case-by-case basis.
Clients pay no fees until after they’ve authorized a settlement and have made their first payment as part of that settlement. The fees range from 15% to 25% of your enrolled debt, and your specific fee percentage is determined by the state you live in.
There is an online dashboard that allows you to track your progress at any time. Plus, you can contact customer service seven days a week.
Some aspects of Freedom Debt Relief that we like include:
- No upfront fees
- Online progress dashboard
Some things to consider before choosing Freedom Debt Relief include:
- Fees as high as 25%
- Not available in all states
The vast majority of ConsumerAffairs reviewers report positive experiences with Freedom Debt Relief, with many noting that the company helped them significantly reduce the debt amounts they owed. “A friend referred me to FDR and I called them. They asked if I was okay with $348 per month and I agreed,” said Ellen from Alpena, Michigan. “Within a few months, they had the first credit card settled for 53% less than what I owed. A few months later, they were able to settle with the second credit card company for 50% less.”
Some reviewers who had negative experiences felt like they didn’t save enough money with Freedom Debt Relief to justify the damage that the debt settlement process did to their credit scores. Others felt that the debt settlement process was dragged out longer than necessary, and some regretted that they didn’t attempt to settle their debts independently.