At a Glance
Rating Breakdown
About Freedom Debt Relief
Founded in 2002, Freedom Debt Relief is the largest and most established debt settlement company in the United States, having resolved over $15 billion in consumer debt for over 850,000 clients. They are a subsidiary of Freedom Financial Network, which also operates FreedomPlus lending.
Key Features
Industry Pioneer
22+ years of operation makes FDR the most experienced debt settlement company, with deep creditor relationships.
Proprietary Technology
AI-driven negotiation tools help optimize settlement timing and amounts for each creditor.
How It Works
Free Consultation
Debt consultant reviews your financial situation.
Enrollment
Choose debts to enroll and begin monthly escrow deposits.
Negotiation
Experienced team negotiates with your creditors.
Settlement
Review and approve each settlement. Fees charged only after settlement.
Services Offered
- Debt Settlement
- Debt Negotiation
- Financial Education
Debt Types Handled
- Credit Cards
- Medical Bills
- Personal Loans
- Store Cards
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Multi-Account Settlement
Client with $67K in credit card and medical debt across 7 accounts.
Pros & Cons
Pros
- Most experienced firm (22+ years)
- $15B+ in resolved debt
- Part of Freedom Financial Network
- Massive negotiation team
Cons
- Higher complaint volume (large client base)
- Not available in all states
- Longer than average resolution times
User Reviews
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Frequently Asked Questions
Related Companies
Important Debt Relief Disclaimers
- Debt settlement programs may negatively affect your credit score. When you enroll, you typically stop making payments to creditors, which results in late payments, collections, and potential charge-offs on your credit report.
- There is no guarantee that a debt settlement company can settle all of your debts or reduce them by a specific amount. Creditors are not required to negotiate or accept settlement offers.
- Debt settlement fees are typically 15%-25% of the enrolled debt amount. You should not pay fees before a debt has been successfully settled. The FTC prohibits debt settlement companies from charging upfront fees before settling at least one debt.
- Forgiven debt of $600 or more may be considered taxable income by the IRS. You may receive a Form 1099-C from creditors for canceled debt. Consult a tax professional about potential tax consequences.
- Creditors may continue collection efforts, including lawsuits, wage garnishment, and bank levies, while you are enrolled in a debt settlement program. A debt settlement company cannot guarantee protection from legal action.
- Alternatives to debt settlement include debt consolidation loans, credit counseling through nonprofit agencies, debt management plans, and bankruptcy. Consider all options and consult with a licensed financial advisor or attorney before enrolling in any debt relief program.
- Zogby does not provide debt relief services. We are an independent comparison service. We do not negotiate with creditors on your behalf or manage debt settlement accounts.
The information provided on this page is for educational purposes only and should not be considered financial, legal, or tax advice. Always consult with qualified professionals before making financial decisions.
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