Freedom debt relief reviews professional#

Freedom Debt Relief reviews and complaintsĤ.3 out of 5 stars, based on 1427 customer reviewsĤ.5 out of 5 stars, based on 35,967 customer reviewsįreedom Debt Relief gets mostly positive online reviews from customers. This lawsuit as over how the company advertises savings: Freedom Debt Relief failed to disclose what percentage of customers actually finish the program with a reduced balance when it advertised potential savings. In 2020, Freedom Debt Relief also entered a settlement with New York State. Since the CFPB filed the lawsuit in 2017, the company also made widespread changes to the debt relief process and its disclosures. In 2019, Freedom Debt Relief settled a lawsuit with the CFPB over several alleged business practices that include charging advance fees, misleading customers about the cost of or ability to perform debt relief services.įreedom Debt Relief agreed to pay $20 million to the affected customers and a $5 million civil penalty. Like many debt relief companies, Freedom Debt Relief has had a few run-ins with regulators, most recently from the Consumer Financial Protection Bureau (CFPB) and the New York State Attorney General’s office.

Freedom debt relief reviews professional#

It’s a member of the American Fair Credit Council (AFCC) or International Association of Professional Debt Arbitrators (IAPDA), which are trade organizations that set benchmarks for debt relief companies to meet.īut regulators have taken action against the company multiple times over its business relief practices. Today, it’s an industry heavyweight with a hand in creating the standards for the debt settlement industry.

It was founded in 2002 by two Stanford Business School alumni to offer better options for consumers struggling with debt. What is Freedom Debt Relief and is it legit?įreedom Debt Relief is a legitimate debt settlement company that helps people facing financial hardship get back on their feet. Weigh the risks, costs and alternatives before signing up for this service. While along with other members of the debt relief industry it’s faced a couple of lawsuits over advertising and pricing practices, it’s since changed the way it conducts business and is one of the more reputable settlement services I’ve reviewed.Īs with any debt relief company, there’s always a possibility you won’t complete Freedom Debt Relief’s program. Customers have mostly positive things to say about its customer service team. This company has settled over $15 billion in debt for 800,000 individuals - that’s about twice as many people as competitors like National Debt Relief. Freedom Debt Relief could offer a good alternative to bankruptcy for people who are struggling to pay off thousands of dollars of debt.