How do I get out of my contract with Freedom Debt Relief?
How do I get out of my contract with Freedom Debt Relief?
If you would like to cancel, please call the Client toll-free number at 1-800-655-6303 to determine the best option for ending your service. Please note that Freedom Debt Relief does not offer a money back guarantee.
Has Freedom Debt Relief been sued?
However, Reuters reported that the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Freedom Debt Relief and its co-Chief Executive Andrew Housser this month. Freedom Debt Relief is one of the largest debt settlement companies in the United States and is based in San Mateo, California.
Is Freedom Debt Relief a legitimate company?
Freedom Debt Relief is an accredited debt settlement company based in Arizona that offers consumers a way to eliminate their debt by reducing what they owe. The business has served more than 650,000 consumers and resolved more than $10 billion in debt since 2002.
Who qualifies for debt settlement?
The Federal Reserve Board says that 7.1% of credit card debt was 90 days past due in Q4 of 2016. The Fed categorizes that debt as “seriously delinquent,” which makes it eligible for debt settlement. About 26% of U.S. adults had trouble paying medical bills in 2016, which also are eligible for debt settlement.
What happens if you break a contract with a debt settlement company?
That you have the right to cancel the debt settlement contract at anytime without any penalties. That any of the funds that are placed in escrow account are your funds that you are entitled to unless they were earned by the debt settlement company. The amount that you will have to pay when your debt is settled.
What percentage will creditors settle for?
Typically, a creditor will agree to accept 40% to 50% of the debt you owe, although it could be as much as 80%, depending on whether you’re dealing with a debt collector or the original creditor. In either case, your first lump-sum offer should be well below the 40% to 50% range to provide some room for negotiation.
Who is the CEO of Freedom Debt Relief?
Andrew Housser
CEO & Co‑Founder Andrew Housser co-founded Freedom Debt Relief in 2002 with Brad Stroh, after meeting him at Stanford, where they both earned their MBA.
Is it worth it to settle debt?
It is always better to pay off your debt in full if possible. While settling an account won’t damage your credit as much as not paying at all, a status of “settled” on your credit report is still considered negative.
How much debt collectors pay for debt?
The creditor pays the collector a percentage, typically between 25% to 50% of the amount collected. Debt collection agencies collect various delinquent debts—credit cards, medical, automobile loans, personal loans, business, student loans, and even unpaid utility and cell phone bills.
Can you cancel debt settlement?
Some of the requirements that debt settlement companies must tell you are: The price of the debt settlement. That you have the right to cancel the debt settlement contract at anytime without any penalties.
Can you cancel national debt relief?
If we can’t settle your debt or if you’re not satisfied up to the point of us settling your debts — for any reason — you can cancel anytime without any penalties or fees other than any fees earned associated with prior settled debts. That’s right!
What is a reasonable debt settlement offer?
Offer a specific dollar amount that is roughly 30% of your outstanding account balance. The lender will probably counter with a higher percentage or dollar amount. If anything above 50% is suggested, consider trying to settle with a different creditor or simply put the money in savings to help pay future monthly bills.
What is freedomfreedom Financial Network LLC?
Freedom Financial Network, LLC. Is a conglomerate of companies that provides financial solutions in debt and other situations concerning finance. The company was started in 2002 and provides services for its clients including Tax resolutions, debt settlement and consolidation.
Who is the CEO of freedomfreedom debt relief?
Freedom Debt Relief, part of Freedom Financial Network and based in San Mateo, California, is the largest debt-settlement services provider in the United States. Andrew Housser is the company’s co-CEO and co-founder.
Is Freedom Financial Services a good company?
Customer reviews are not all positive: Freedom Financial Services as a whole get a high positive rating from the customers and other firms that use their services, but when it comes to their loans, there are mixed reviews especially negative ones from recipients especially on websites like the Better Business Bureau.
Does Freedom charge a fee for debt settlement?
Freedom also tells consumers it will charge a fee only when it negotiates a debt settlement and consumers make a payment. But Freedom charges its full fee even when creditors simply stop collections without a settlement and when consumers negotiate settlements on their own.
