Freedom Debt Relief Reviews
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About Freedom Debt Relief
Freedom Debt Relief is a nationwide debt relief company that provides debt settlement services and education. The company requires applicants to have at least $7,500 of unsecured debt. Its fees vary by location and range from 15% to 25%, depending on the state where the client lives and the amount of debt they enroll. Though user credit suffers in the short term, Freedom Debt Relief’s credit score impact study, which was updated in 2022, found that most customers saw credit score recovery in 36 to 45 months.
Pros & Cons
- No fees until settlement reached, authorized by client
- Has resolved over $17 billion in debt in 20-plus years
- Works with high debt amounts
- Long-term credit recovery
- Fees up to 25% of settlement amount
- Short-term impact on credit
Featured Reviews
I’m so grateful to the staff of Freedom Debt Relief. It’s been a struggle at times, but it also has been a positive crossroad ... This is the best decision I have ever made for my...
Read full reviewI have had an excellent experience with FDR. They listened, got me where I needed to be, and stuck with me the entire time. It has been a journey worth taking. They are faster tha...
Read full reviewWhat is Freedom Debt Relief?
Freedom Debt Relief (FDR) specializes in debt resolution services, also known as debt negotiation and debt settlement, for those grappling with overwhelming debt. Having been in business since 2002, FDR touts a record of having resolved over $15 billion in debt and serving over 850,000 clients. It’s a Platinum member of the International Association of Professional Debt Arbitrators and part of the American Fair Credit Council.
If you have $7,500 or more in unsecured debt, FDR will work to help you negotiate a settlement with your creditors for as low as 50% of what you owe.
How does Freedom Debt Relief work?
To get started with Freedom Debt Relief, you must have at least $7,500 in unsecured debt — debt that is unattached to collateral, such as a house or car. If you qualify, you’ll talk with one of FDR’s consultants or get a debt evaluation through digital enrollment to get a plan that works for you.
FDR’s program length typically ranges from 24 to 48 months, and you can track your progress through the online dashboard 24/7. The company also offers an online evaluation tool to help you see if you qualify.
If a settlement is reached with a creditor, FDR will ask you to authorize the settlement and then charge a fee based on the settlement. It won’t charge until a settlement is reached and authorized by you. Keep in mind that not all creditors will let you settle.
How much does Freedom Debt Relief cost?
Freedom Debt Relief’s fees typically range from 15% to 25% of the settled debt. When you apply, a certified debt consultant will receive your case and you’ll get an exact percentage and a monthly cost. Fees vary depending on the state you live in and the amount of debt you enroll.
Legally, FDR can’t charge any upfront fees, so each charge is initiated after the company settles part of your debt. Users need to authorize a settlement before the company initiates any charges, so this fee should never be a surprise.
Freedom Debt Relief FAQ
How does Freedom Debt Relief affect your credit?
As with all debt relief and settlement programs, working with Freedom Debt Relief will likely negatively affect your credit in the short term. However, a Freedom Debt Relief program can help encourage positive credit habits, which over time could help improve your credit. The company conducted a study and reported that its customers’ credit improved significantly over 24 to 45 months.
Where is Freedom Debt Relief located?
Freedom Debt Relief has offices in Phoenix, Arizona, and San Mateo, California, but it serves customers across the country.
Is Freedom Debt Relief a debt settlement company?
Yes, Freedom Debt Relief’s program involves negotiating settlements with your creditors.
How long does Freedom Debt Relief affect your credit?
According to a study conducted by the company, customers of Freedom Debt Relief saw a significant dip in credit score in the beginning, with median scores of 497 at six months after enrollment, then saw a steady increase, with median scores reaching 604 at 24 months and 648 at 45 months. This study tracked the scores of customers between 2014 and 2018 with a median starting credit score of 650.
Does Freedom Debt Relief offer loans?
Freedom Debt Relief does offer debt consolidation loans. In the debt evaluation process, Freedom Debt Relief reviews other options that are available to the client aside from debt settlement, which may include loans, and may refer the client to an affiliated company, such as Achieve Personal Loans or Achieve Home Loans, for loan products.
Is Freedom Debt Relief legit?
Freedom Debt Relief is a reputable company with a proven track record. The company is a member of the American Fair Credit Council and a Platinum member of the International Association of Professional Debt Arbitrators. If you have $7,500 or more in unsecured debt, Freedom Debt Relief may be able to help you.
While all debt relief services will likely cause a negative mark on your credit report, Freedom Debt Relief professionals can assist you in negotiating with creditors in a way you may not be able to do yourself. Although its fees may be high — as much as 25% of what you save on your debt — it still may cost you less than paying the debt in full.
Freedom Debt Relief Reviews
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Freedom Debt Relief Company Information
- Social media:
- Company Name:
- Freedom Debt Relief
- Company Type:
- Private
- Year Founded:
- 2002
- Address:
- PO Box 2330
- City:
- Phoenix
- State/Province:
- AZ
- Postal Code:
- 85002-2330
- Country:
- United States
- Website:
- www.freedomdebtrelief.com