Freedom Debt Relief review: A debt relief company with initial results in as little as 90 days

Freedom Debt Relief

Eligibility & Requirements:	$5,000 in most states; the website advertises as little as $1,000
Fees:	Varies by state
Ratings:	BBB A+
Accreditations:	AADR
Savings:	UP to 50%
Time:	24-48 months

View offer at Freedom Debt Relief

Pros and Cons

Pros

• Doesn’t take payment until acceptable terms are negotiated
• Accredited with AADR
• See results in the first 90 days

Cons

• Unable to settle secured loans
• History of complaints with BBB
• Usually see a drop in credit score

Who is Freedom Debt Relief good for?

Freedom Debt Relief is a good option for those with unsecured debts, such as credit card debts, medical bills, and personal loans, who feel they can no longer make the payments or feel overwhelmed by the debt. The company will work with creditors to reduce debt and pay off creditors.

Who shouldn’t use Freedom Debt Relief?

Freedom Debt Relief doesn’t claim to be the best fit for everyone. If your debts are secured, such as mortgages or auto loans, they might not have a solution to help. They also don’t address federal student loans, which typically can’t be negotiated or forgiven.

View offer at Freedom Debt Relief

How Freedom Debt Relief fees work

Freedom, like most other debt relief companies, make their money by charging consumers a portion of the enrolled debt settled.

How does working with Freedom Debt Relief impact credit score

Credit scores usually drop when working with any debt relief company because the company asks you to stop making payments when they settle your debts. This will cause the creditor to report negatively to the credit agencies.

How much can I save by using Freedom Debt Relief?

Depending on their credit scenario, each person will save a different amount using Freedom Debt Relief. Consumers should expect to save about 25% of their debt after fees. 

How long does Freedom Debt Relief take to settle debt

Freedom Debt Relief usually sees results for settlement within 90 days. The whole process can take up to four years to complete, with most customers seeing their debts paid off within 24 to 48 months. Its competitors include National Debt Relief, Accredited Debt Relief, and Money Management International.

Freedom Debt Relief	Accredited Debt Relief	National Debt Relief
Minimum eligibility	Minimum eligibility	Minimum eligibility
Minimum $5,000	Minimum $1,000	N/A
Fees	Fees	Fees
Varies by state	25% of enrolled debt	15-25% of enrolled debt
Expected time to relieve debt	Expected time to relieve debt	Expected time to relieve debt
24-48 months	24-48 months	24-48 months
View Offer at Freedom Debt Relief	View Offer at Accredited Debt Relief	View Offer at National Debt Relief

Are there risks with settling debt with Freedom Debt Relief

Consumers who use debt settlement companies risk seeing their credit scores drop. Because payments are halted during the negotiation process, negative dings are added to consumers’ credit reports. here are other ways to reduce or eliminate debt if you are uncomfortable with a debt relief company.

Freedom Debt Relief’s reputation for settling debt?

While several hundred complaints with the BBB for Freedom Debt Relief are not uncommon for debt relief companies, we didn’t see a history of litigation for the company, which is a good sign. In fact, the company has more than 42,000 reviews on Trustpilot, with a 4.6-star rating, suggesting that the bulk of its customers are happy with the service. 

Is Freedom Debt Relief right for you?

Freedom Debt Relief is a good solution for consumers who have more than $5,000 in unsecured debt and need help reducing the payments and debt amount.  Consumers should do what they can to preserve their credit and pay off debt before engaging with a debt settlement company to mitigate the impacts of debt settlement on their credit score.