'%3E%3Cpath fill='%23292929' fill-rule='evenodd' d='m8.27 7.003 5.73 5.73-1.274 1.273-5.729-5.73L1.274 14 0 12.726l5.73-5.729L0 1.274 1.274 0l5.729 5.73L12.726 0 14 1.274 8.27 7.003Z' clip-rule='evenodd'/%3E%3C/g%3E%3Cdefs%3E%3CclipPath id='a'%3E%3Cpath fill='%23fff' d='M0 0h14v14H0z'/%3E%3C/clipPath%3E%3C/defs%3E%3C/svg%3E){kind=small}
Overview
Freedom Debt Relief, founded in 2002 and based in California, is one of the largest U.S. debt resolution firms. It has served over 1 million clients and settled more than $20 billion in unsecured debt.
The company negotiates reduced settlements on unsecured debts like credit cards, medical bills, personal loans, private student loans (case-by-case), collections, lines of credit, repossessions, and some payday loans. Not eligible for settlement are secured debts (like mortgages, auto loans), taxes, utility bills, lawsuits, and federal student loans.
Clients deposit monthly into an FDIC‑insured dedicated account they control. Freedom Debt Relief does not manage these funds directly. Negotiations begin when the account funds are sufficient. Settlement offers require client approval before payment, and only then are fees applied, ranging from 15% to 25% of enrolled debt, plus a $9.95 one-time setup fee and $9.95 monthly account servicing fee charged by the account provider.
The program's length typically ranges from 24 to 48 months, depending on your savings pace, debt amount, and creditors involved.
Freedom is accredited with the BBB (A+ rating), is a founding member of the AADR, a platinum member of the IAPDA, and boasts strong customer reviews (Trustpilot 4.6/5 from 45k+, ConsumerAffairs awards).
Pros
- Free, no‑obligation debt consultation
- No upfront fees—pay only after settlements
- FDIC‑insured dedicated account controlled by you
- A+ BBB accreditation and industry certifications
Cons
Application Process
- Free Consultation – Speak with a Certified Debt Consultant to evaluate your debt relief options versus alternatives like consolidation, bankruptcy, or credit counseling.
- Enrollment – If chosen, you sign up and open an FDIC-insured dedicated account via Crossroads Financial Technologies; you make your own deposits.
- Deposits – You save monthly based on a customized plan designed to build funds for settlement.
- Negotiation – Once funds are sufficient, Freedom negotiates with your creditors. Each offer is sent to you for review and approval.
- Settlement - After you approve, a payment is issued from the account. Freedom’s fee is then processed.
- Completion – Once debts are settled, you’re debt-free under the program structure.
Debt Services
Freedom specializes in debt settlement, working with unsecured debt by negotiating reduced payment amounts. They do not offer loans themselves but may refer to affiliate lenders if debt consolidation is an option.
Types of Debt Covered
- Included: Credit cards, department store cards, medical bills, personal loans, private student loans (case-by-case), collections, lines of credit, repossessions, payday loans.
- Excluded: Secured loans, federal student loans, taxes, utilities, lawsuits.
Customer Support
- Phone Support:
Prospective clients: 800‑910‑0065 (Mon–Fri 8 AM–11 PM EST; Sat–Sun 9 AM–9 PM EST).
Current clients: Mon–Thu 8 AM–9 PM EST; Fri 8 AM–8 PM; Sat–Sun 10 AM–8 PM EST. - Address: 1875 S Grant Street, Suite 400, San Mateo, CA 94402.
- Email Contacts: support@freedomdebtrelief.com, info@freedomdebtrelief.com (use the official site for accurate contacts).
AI was used in the creation of this content, along with human validation and proofreading.
- Free, no‑obligation debt consultation
- No upfront fees—pay only after settlements
- FDIC‑insured dedicated account controlled by you
- A+ BBB accreditation and industry certifications
- Voluntary missed payments may lower a credit score
- Fees of 15–25% of enrolled debt, plus account fees
- Possible tax implications on forgiven debt
