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Freedom Debt Relief (FDR) is an American company founded in 2002, by two Stanford graduates. It is one of the largest firms of debt settlement services in the country and claims to have helped more than 250,000 customers and resolved more than $4 billion through debt settlement so far.
The company is based in California and it is a subsidiary of Freedom Financial Network. It also has an office in Phoenix, Arizona. Freedom Debt Relief operates in 38 states and has an A+ rating with the BBB. It is also an accredited member of The Association of Settlement Companies (TASC), International Association of Professional Debt Arbitrators (IAPDA) and a founder member of the American Fair Credit Council (AFCC).
FDR offers various financial services, from debt consolidation to bankruptcy alternatives and credit counseling. According to their claims, their customers range from 30 to 65 years old and have incomes between $40,000 and $125,000.
They are very transparent about what they do and they even have pros and cons for each of their services. They clearly state that they can’t stop collection calls or creditors from suing you. On their ‘cons’ list for debt consolidation they also mention that you need good credit in order to qualify and that there is no reduction on principal.
How does it work
Freedom Debt Relief claims it can help you resolve your debt in 2 to 4 years by using low monthly payments. You first have to fill out the form on their website and wait to be contacted by one of their debt specialists, for a free consultation. The specialist will analyze your case and tell you if you are a good candidate for their program. He will further give you all the information you need and show you the best options for your situation. You will also find out how long the program will last, based on how much you can afford to pay monthly and they give you free savings estimates, as well. If everything goes well and you are enrolled, you will start putting monthly funds into an FDIC (Federal Deposit Insurance Corporation) insured account that will be used to pay off your debts. You will also have to stop using your credit cards, because that will increase their chance of resolving your debts. Your conversation with their reps is 100% confidential. The representative who is assigned to you at the beginning will remain with you until the program is completed.
One useful feature that isn’t included in other programs from other competitors is the 24/7 online debt management dashboard. The dashboard is intuitive and it helps you track your progress through the program.
They only work with unsecured debt (meaning debt that isn’t backed by collateral) such as medical bills, credit card debts, etc. They also mention on their website that you have to have a large amount of debt (at least $10,000) in order to go with debt consolidation.
FDR charges fees between 15 to 25% of the total debt and doesn’t ask for any upfront taxes.
Freedom Debt Relief provides customer support by phone and email. There are business hours set by the company during which you can call them.
Phone: 800-544-7211 (non-clients)
800-655-6303 (clients)
Email: [email protected]
Social media: Facebook, Twitter, LinkedIn, YouTube
The reps are friendly and helpful but the email response time is a bit slow. FDR also has a lot of self-help resources on its website and a solid FAQ section. There is a debt relief guide with payments schedule and other useful tools. The company also offers a free debt rep who will stay with you throughout the entire program and can answer any questions you might have regarding the process.
Our editorial staff evaluates products and services independently, but Best Review Guide may earn money when you click on links. Read our advertising disclosure.
By: Matt | Last updated April 12, 2017 
