Is Freedom Debt Relief a legitimate company?
Is Freedom Debt Relief a legitimate company?
Yes, Freedom Debt Relief is a legitimate company with over 18 years of experience and $10 billion in settled credit. Freedom Debt is the biggest debt settlement company in the US. It’s also a founding member of the American Fair Credit Council (AFCC), which aims to promote good credit negotiation practices.
Is Freedom Debt Relief the same as Freedom Financial Network?
Freedom Debt Relief, LLC is a subsidiary of Freedom Financial Network, LLC. Andrew Houser and Bradford Stroh co-founded both companies and serve as Chief Executive Officers.
What is freedom debt consolidation?
Freedom’s Debt Consolidation Loan gives you the financial freedom from your high rate credit cards, high interest personal loans, and other high interest debt that is piling up, by consolidating it into one easy, fixed low monthly payment you can afford.
Can you get out of Freedom Debt Relief?
You may withdraw from your FDR program at any time without penalty, and, if you do, you will receive all funds in your Dedicated Account, other than settlement fees earned by us. Termination. You may terminate this Agreement at any time, without any termination fee.
Is freedom a good company?
Customer complaints: Freedom has a B- rating at the Better Business Bureau and has received more than 350 customer complaints in the past three years, including complaints about problems with its service and issues with billing and collection.
Does Freedom financial affect credit score?
FreedomPlus will ask you questions about things like your credit score and state of residence to see if you qualify. This process will not affect your credit score. Ways to apply: You can apply for a FreedomPlus personal loan online or by phone at (800) 368-0061.
What bank does Freedom Financial use?
Freedom Financial Asset Management, LLC All loans available through Freedom Financial Asset Management, LLC d/b/a Consolidation Plus and d/b/a FreedomPlus are made by Cross River Bank, a New Jersey State Chartered Commercial Bank or MetaBank®, N.A., Members FDIC, Equal Housing Lenders.
Is there a Federal Debt Relief Program?
There is no government program that forgives or even minimizes the burden of paying off your credit card balances. There are, however, 501(c)3 nonprofit consumer credit counseling services that work with you to provide debt relief.
What does your credit score have to be to consolidate debt?
To qualify for a debt consolidation loan, you’ll have to meet the lender’s minimum requirement. This is often in the mid-600 range, although some bad-credit lenders may accept scores as low as 580. Many banks offer free tools that allow you to check and monitor your credit score.
How long will it take to pay off 30000 in debt?
The average credit card interest rate in 2021 was 16.13%. With 16% interest, it would take 447 months (more than 37 years) to pay off $30,000 in credit card debt.
Who owns Freedom financial?
Andrew Housser
Andrew Housser is an entrepreneur and co-founder of Freedom Financial Network, a digital personal finance company, and the founder of Bills.com….
| Andrew Housser | |
|---|---|
| Known for | Freedom Financial Network Freedom Debt Relief Bills.com |
How long has freedom debt relief been around?
2002
The Competition: Freedom Debt Relief vs. National Debt Relief
| Freedom Debt Relief | |
|---|---|
| Year Founded | 2002 |
| Accreditation | Accredited with the American Fair Credit Council (AFCC) |
| Services Offered | Debt settlement |
| Customer Service Touchpoints | Free consultation Phone and email customer service Online client dashboard |
Who owns Freedom Financial?
Is consolidation plus affiliated with Freedom Debt Relief?
Consolidation Plus is a proud member of Freedom Financial Network, which specializes in providing consumer debt management services through its affiliated companies, including FreedomPlus, Consolidation Plus, Freedom Financial Asset Management, and Freedom Debt Relief.
How do I qualify for Debt Relief?
To qualify for National Debt Relief’s debt settlement program, consumers must have at least $7,500 in unsecured debt for a qualified debt type. Qualified types of debt include major credit cards, department store cards, personal loans, medical bills, credit unions, some secured debts and some private student loans.
Does consolidation ruin your credit?
Debt consolidation loans can hurt your credit, but it’s only temporary. When consolidating debt, your credit is checked, which can lower your credit score. Consolidating multiple accounts into one loan can also lower your credit utilization ratio, which can also hurt your score.
Do you lose your credit cards after debt consolidation?
Yes, debt consolidation closes credit cards if you are pursuing debt consolidation through a debt management program or a debt consolidation loan (in some cases). Other methods of debt consolidation – including the use of a balance transfer credit card, a home equity loan, or a 401K loan – do not close credit cards.
How much is considered a lot of debt?
Debt-to-income ratio is your monthly debt obligations compared to your gross monthly income (before taxes), expressed as a percentage. A good debt-to-income ratio is less than or equal to 36%. Any debt-to-income ratio above 43% is considered to be too much debt.
How can I wipe my credit card debt legally?
5 Ways You Can Erase Your Credit Card Debt
- Attack the debt with all your resources.
- Use a balance-transfer card.
- Apply for a credit card consolidation loan.
- Enroll in a debt management plan.
- Declare bankruptcy.
- Find the best debt solution for your situation.
