Latest news with #FreedomDebtRelief
Business Insider
5 days ago
- Business
- Business Insider
Freedom Debt Relief Review 2025
If you're struggling to make payments toward your credit card or loan debts, a debt settlement company like Freedom Debt Relief might be able to help. According to the company, customers who complete the Freedom Debt Settlement program reduce their enrolled debt on average by 20% to 25%. However, the debt settlement process can be risky and has its own set of pitfalls, so it's not a quick solution. Business Insider's personal finance team compared Freedom Debt Relief to the best debt relief companies and found it to be a strong option on the market with a Program Guarantee that provides a full refund if the settlement and fees exceed the original amount of debt owed. Read on to see if Freedom Debt Relief is right for you. Pros and Cons With the exception of its refund policy, the pros and cons of working with Freedom are the same as working with any debt relief service. Freedom Debt Relief Pros Provides a full refund if the settlement and fees exceed the original amount of debt owed Structured program to pay off debt Financial education tools Can be a bankruptcy alternative Freedom Debt Relief Cons Negative impact on credit due to missed payments and settled accounts No guarantee that creditors will agree to the settlement amounts offered Fees can be substantial Could be tax implications on the forgiven debt Get Debt Relief Overview of Freedom Debt Relief Freedom Debt Relief is a well-known debt settlement company that helps negotiate with creditors to reduce unsecured debt. By negotiating with creditors, Freedom Debt Relief helps clients struggling with financial hardship settle outstanding debt. The company handles most forms of unsecured debt and says it has helped over one million clients since it started operating in 2002. There is a $7,500 minimum debt required to work with Freedom Debt Relief. Based in Arizona, California, and Texas, Freedom Debt Relief offers services to consumers in 42 states. It does not offer services in Colorado, North Dakota, Oregon, Rhode Island, Vermont, West Virginia, Wisconsin, or Wyoming. How Freedom Debt Relief Works Freedom Debt Relief negotiates with creditors on your behalf to agree to a debt settlement: a (hopefully lower) amount your creditors will accept to consider the debt forgiven. Like any debt settlement company, Freedom can't guarantee that creditors will agree to any given settlement. Working with Freedom is best for people in the following situations: Significant unsecured debt: Carrying overwhelming credit card debt, medical bills, or other unsecured debts High monthly minimum payments: Can't keep up with their debt obligations and struggle to make payments Don't want to file bankruptcy: Want to avoid bankruptcy and are willing to accept a negative credit score impact Key features of Freedom Debt Relief Free Consultation Working with Freedom Debt Relief starts with a free initial consultation to assess eligibility and discuss solutions. Potential customers list out all of the bills they would like to enroll in the debt settlement program. Freedom Debt Relief consultants walk customers through their credit report and recommend customized solutions. Enrollment and Dedicated Account Once you agree to the plan and the settlement amount, you will be given a dedicated online account to make monthly payments. Negotiation With Creditors Freedom Debt Relief will negotiate with your creditors on your behalf so you can settle for less than you originally owed. Settlement and Closure Once a settlement is agreed upon, you pay your creditors directly through that dedicated account. Once the settlement amount is paid, your account will be settled and closed. Freedom Debt Relief Cost and Fees Freedom Debt Relief does not charge fees for its debt settlement services until a debt settlement is reached and approved, and the first payment is made. The fee is based on the amount of the enrolled debt, not the settlement amount. A fee of 15-25% of enrolled debt + $9.95 account sign-up fee and $9.95 monthly fee is typically charged. Freedom Debt Relief also offers a Program Guarantee that provides a full refund if the settlement and fees exceed the original amount owed. While it's uncommon for a settlement and fees to be more than you originally owed, this type of guarantee is rarely offered by debt relief companies. Freedom Debt Relief Reviews and Ratings The company has a customer rating of 4.6 out 5 stars on Trustpilot with over 46,000 reviews and an A+ rating with the Better Business Bureau. Freedom Debt Relief has strong customer reviews. Still, there have been negative reviews and complaints from customers around the process and fees. Common complaints were that customers did not understand the impact of debt settlement on their credit score and that the process itself was slow. This is a common complaint consumers have when working with debt settlement companies. It is important to understand that debt settlement programs will be reported to the credit bureaus and can impact your credit score. In 2019, a lawsuit from the Consumer Financial Protection Bureau (CFPB) alleged that Freedom Debt Relief misled and wrongfully charged fees to customers. Freedom Debt Relief settled with the CFPB, agreeing to pay $25 million in customer restitution and penalties. In 2023, Freedom Debt Relief settled a class-action lawsuit that alleged it violated the Telephone Consumer Protection Act. The company agreed to a $9.75 million settlement. Freedom Debt Relief Alternatives Freedom Debt Relief vs. National Debt Relief National Debt Relief also does not charge upfront fees; service fees range from 15%-25% of the debt enrolled. Like Freedom, it does not charge any fees until you start to see results. There is an eligibility threshold of $7,500 of debt to work with National Debt Relief (the same as Freedom), and the debt settlement process can be lengthy. The main difference between the two companies is that National Debt Relief offers services in 46 states and Washington, DC — a slightly larger area of operation than Freedom. If you live in a state served by National only, you'll choose National. Otherwise, you might consider Freedom for its suite of financial education tools. Freedom Debt Relief vs. Pacific Debt Relief Like Freedom, Pacific Debt Relief does not charge upfront fees. Service fees range from 15%-25% based on the amount of your debt and are rolled into your monthly payment, due only when you start to see results. You must have at least $10,000 in debt to work with Pacific Debt Relief, while Freedom Debt Relief requires $7,500. The average time of completion with Pacific is 24-48 months. The main differences between Freedom and Pacific Debt Relief are that Pacific requires a higher minimum debt balance to enroll and operates in only 30 states. For people in states served by Freedom only, the choice is clear. People living in states where both companies operate should still choose Freedom, which accepts smaller debts than Pacific. Why You Should Trust Us We rate debt settlement services like Freedom Debt Relief by taking into account the following criteria: Accreditation by trade associations or organizations Fee structures and disclosure Number of years in operation Money-back guarantees in cancellation policies Read the full breakdown of how we rate debt settlement companies. FAQs Will Freedom Debt Relief affect my credit score? Yes, a debt settlement program like Freedom Debt Relief will negatively impact your credit score due to missed payments and settled accounts that are reported to the credit bureaus.
Miami Herald
6 days ago
- Business
- Miami Herald
What to do when your spouse loses their job
If you depend on your spouse's job to help cover your day-to-day expenses and save for the future, it can be hard to hear that they've been let go at work. And you may not be sure what to do when your spouse loses their job. Once you've gotten over the shock, there are steps you can take together to get through this shakeup. Here's a comprehensive rundown from Freedom Debt Relief of what to do when your spouse loses their job. Key Takeaways: When your spouse loses their job, it can have a financial and an emotional out health insurance and unemployment benefits for ways to cut spending, and to support your spouse in their job search. The First Things To Do When Your Spouse Loses Their Job Supporting your spouse when they lose their job can make a tough situation easier. Your spouse may need at least a few days to get over the shock and regroup. Give your spouse some space to wallow, and encourage them when they're feeling down. But also focus on these moves. Figure out health insurance If you relied on your spouse's job for health insurance, you need to figure out another way to get coverage. If you're working, see if you and your spouse can get onto your employer-sponsored plan. If that's not an option, consider COBRA (a law that lets you continue employer-sponsored coverage, if you pick up the employer's part of the cost) or more affordable solutions like the Affordable Care Act Marketplace. You can also find out if you qualify for Medicaid. Sign up for unemployment benefits Do this right away because there's often a mandatory waiting period after you file before benefits kick in. Unemployment benefits won't replace your spouse's paycheck in full when they lose their job, but they can replace a portion. You're generally eligible for unemployment benefits when you lose a job through no fault of your own. Benefits are usually paid weekly, and the amount you get depends on your state and your former salary. Find out about severance It may be that your spouse is entitled to a severance package, which could put some money in your pockets while they begin a job search. Encourage your spouse to talk to their human resources department for details. Find out whether your spouse can cash out unused sick or vacation time If your spouse accrued sick or vacation days that they didn't use by the time they were laid off, they may be eligible to get paid for that time. This, too, is a question for the human resources department. Get on a budget It's important to maximize your joint income when a spouse loses their job. Create a budget and aim to find expenses you can cut back on temporarily. You may be able to pause subscriptions, a gym membership, or even your mortgage payments if you're in the midst of a financial hardship. Assess your savings If you have an emergency fund with enough money to cover a few months of bills, see if that can take some of the pressure off while your spouse regroups. You should still get onto a budget and trim expenses, but it's helpful to know how long your savings can sustain you. Know your rights If you think your partner was discriminated against in the course of losing their job, there may be something you can do. Check with your state's Department of Labor or search online for legal aid groups. You can also contact employment attorneys. Many offer a free consultation in which they offer an opinion on whether you should move forward with a case against the employer. Priorities to Focus On During the Job Search When you get upsetting news, it can be tough to deal with at first. But after the reality of unemployment has set in and a few weeks have passed, consider doing the following. Get a handle on your debt While debt management with a loss of income is hard, it's not impossible. If you can no longer make your debt payments, contact your creditors and lenders to find out what options are available. They may allow you to make partial payments or defer your payments, especially if you've always paid on time. You can also potentially avoid adding to your debt by dipping into your emergency fund or picking up a side gig to pay for basic expenses. Support your spouse's job hunt There are a few ways you can help your spouse while they look for a new job. Be a sounding board for resume updates. Keep your eye out on sites like Indeed, LinkedIn, and Monster for positions that you think may pique their interest, or that might be something new to consider. Reach out to your professional and social network to drum up leads. Most importantly, help keep your spouse's spirits high, and reassure them that they will eventually land a job. Stay mentally and physically healthy It's important to keep your spirits-and your spouse's-up when they lose their job. Having no routine could be tough on your spouse, so try to find ways to get them moving and out of the house. That could mean going for a walk together every evening when you get home from work, or finding an online yoga class. Tap career resources Your spouse may be eligible for employment and training programs offered by your city or state. Or there may be free courses online that can help your spouse boost their skills. Help them look into their options so they don't feel like they're going through this alone. Strategies for Getting Through a Long Job Search You can hope that your spouse will find a job pretty quickly after losing one. But that may not happen. Many employers have lengthy interview processes that can take months to complete. And also, it's important for your spouse to find a new job that's a good fit. But if your spouse's job hunt seems to have stalled, you can do the following. Help your spouse change industries If your spouse hasn't been able to find work in their field, it may be time for them to consider expanding their horizons and changing industries. Find out which industries are in high demand, and discuss those options. If your spouse expresses interest in one of them, there may be training and education programs to enroll in. Try to frame your spouse's career change as an exciting opportunity, as opposed to something they're doing out of necessity. Rethink near-term financial goals You may have had plans to remodel or buy a home, pay off your car, or start a college fund for your children this year. Your spouse's unemployment may force you to temporarily rethink your financial plans. But remind yourselves that you're not giving up on your goals-you're just shifting them a bit due to circumstances outside your control. See if you're eligible for government benefits If your household income has taken a big hit, you may be eligible for certain benefits you weren't entitled to before. These could include Medicaid and SNAP. Research whether moving might help If your spouse is having a hard time finding work where you live, it may be time to consider a move. Or you may decide to move to lower your costs while your spouse is in the midst of a career transition. Research different parts of the country together to see what options you have. Be creative about income If it's been a while since your spouse collected a paycheck and their unemployment benefits are running out, find creative ways to boost your income. Rent out an in-law unit you don't use; sell stuff you no longer want or need; get a part-time job; and do whatever else you can think of to make some extra money. And remember: This too shall pass. Be a sounding board Being unemployed long-term can be tough, but your support can get your spouse through it. Commit to being a sounding board throughout their job search. Celebrate their wins, like getting interviews, and let them vent when they're down, like when they're passed over for another candidate. Consider debt relief If the loss of your spouse's job has made your debt situation worse, it may be time to explore options for debt relief. A debt relief company can help explain your choices, and help you find a solution that can put you on the path to a better financial future. Frequently Asked Questions Will losing a job hurt my credit score? The loss of a job won't directly affect your credit score, since employment isn't a factor in calculating it. But the loss of income you experience could cause you to fall behind on your debts. That, in turn, could result in a lower credit score. Can I pause my debt payments if I've lost my job? That's up to your lenders and credit card issuers. Contact them and let them know your situation. They may agree to pausing your payments for a time without reporting you to the credit bureaus as delinquent on your debt. Should I take out a loan if I've lost my job to cover my expenses? It can be tricky to qualify for a loan if you don't have an income. Plus, you might struggle to pay the loan back if you aren't working. This story was produced by Freedom Debt Relief and reviewed and distributed by Stacker. © Stacker Media, LLC.
Entrepreneur
22-05-2025
- Business
- Entrepreneur
Real Stories, Real Change: What Freedom Debt Relief Reviews Reveal About Debt
One of the best ways to gauge a company's impact is through customer reviews, where people share unfiltered experiences of how debt relief changed their lives. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media. The first step toward relief is often the hardest for anyone struggling with debt. In a world field with big, bold promises, it's natural to be skeptical. That's why honest customer stories matter—people want to hear from others who've been in their shoes. One of the best ways to gauge a company's impact is through customer reviews, where people share unfiltered experiences of how debt relief changed their lives. In the case of Freedom Debt Relief, those reviews speak volumes. Why Reviews Matter in the Debt Relief Journey Debt is personal. It affects mental health, relationships, and daily life. That's why transparency is crucial when selecting a debt relief partner. Verified testimonials offer more than just five-star ratings: they provide insight into a company's process, values, and actual results. Freedom Debt Relief clients consistently describe the same things: respect, empathy, simplicity, and real progress. This type of social proof builds trust, especially for those who are ashamed of their financial situation. What Freedom Debt Relief Clients Are Saying A Common thread in Freedom Debt Relief reviews is the kindness and professionalism of the support team. "Everyone from start to my finish line—the counseling, the customer care—was so amazing," shared Mary Stephens. "You never feel like a number. Everyone is terrific. Anyone who needs help, you need to contact them. They will help you in every way you need." For many, the emotional relief was as powerful as the financial gains. "They didn't just help me with my debt," confirmed Jane M. from Arizona. "They helped me get my life back." Others highlight how simple the process was. "They make it nice and easy by doing all the work for you," wrote David Innings. "The only thing you need to do is put the money into your account. Very satisfied with my experience so far." Charlie Lopez raved, "This program helped me gain my financial independence. I didn't have to take a loan or anything. It just helped me budget and maintain to get a piece of my life back. I just recently did it. It took me only 18 months to get rid of $20,000 in debt. That's really good." How to Spot Real Reviews If you're reading reviews to make a decision, there are certain things to look for to tell they're genuine: Look for details that describe the whole journey. Pay attention to tone—genuine reviews often express emotion and gratitude. Check for consistency across platforms like Trustpilot, BBB, and ConsumerAffairs. Volume matters: a company with thousands of detailed reviews usually has a strong track record. Authentic reviews help reduce the noise and build confidence when taking that all-important first step. What Makes Freedom Debt Relief Different Freedom Debt Relief has helped over 850,000 people tackle more than $15 billion in debt. With over 20 years of experience, they've become one of the most established names in debt relief. But it's not just about the numbers. It's about how those numbers change lives. By providing easy-to-understand plans and ongoing support, Freedom Debt Relief stands out as a company that listens, adapts, and delivers. Their model doesn't involve pushing loans or quick fixes but instead helping people create real change through negotiation, structure, and empowerment. Your Story Starts With a Step Everyone's financial journey is different. But the path to peace of mind often begins similarly—with a simple decision to explore options. Reading a few reviews might be the first step toward your success story. If you've been carrying the weight of debt alone, there's help available—thousands of people just like you have found it. Maybe your very own five-star review is right around the corner.
Miami Herald
22-05-2025
- Miami Herald
5 ways to take an affordable family vacation this summer
5 ways to take an affordable family vacation this summer You want to create memories and have a great time with your family this summer. And you can do that without causing a fall debt hangover-short on cash doesn't have to mean short on fun. Here are five fantastic summer vacation ideas from Freedom Debt Relief to bring your family closer without busting your budget. Key Takeaways: Family summer vacations don't have to be expensive or lead to overwhelming credit card visiting family, and volunteer tourism can create memories without breaking the deals can get you a great trip at a low price if you're flexible. Low Budget, High Fun: The Awesome Staycation Staycations (taking time off and having fun at home or near home) have more going for them than just savings. Travel is stressful. Dragging luggage through airports or driving for hours is no fun. Why not skip it? Here are a few ideas for a fabulous staycation: When people come to visit you, where do you take them? What does your local tourism agency promote? Restaurants, outdoor attractions, special events? Why not build a family vacation around these things?Let everyone stay up late and have a "film festival." Set up your streaming, invite friends, stock up on everyone's favorite treats, and pile pillows, blankets, and air mattresses on the floor. Set up another room for little ones when they tire up in your finest, and all go out to dinner one night for a special to an outdoor concert and take a an "all American" summer activity like fishing, visiting a farm, or taking in a nearby county fair or to a craft store with your kids and set them up with supplies, or enroll everyone in a fun the fam up for a day at the beach, mountains, or a pretty park. Vacation Classic: Family Camping Camping in the summer is a time-honored tradition in many families. It can be inexpensive because you take your food and campsites often run just a few dollars a day. You don't even have to "rough it" because many camps feature tent cabins (wood floors and canvas walls), yurts, RVs, or treehouses. Many clubs and church groups offer budget, all-inclusive camping vacations to members and non-members alike. You can send your kids off to safely play or craft while you enjoy a swim, a hike, a quiet lunch, or even a massage. One challenge of summer camping is finding a site that's not crowded or full. Seasoned campers avoid this by choosing from campgrounds that operate on a first-come, first-serve basis and getting there early. Your best shot is a Sunday or Monday morning arrival because most campers leave on Sunday. Another option is to camp a little further from the most popular beaches or parks. Often, there are less-traveled campgrounds within a 20-minute drive of the crowded ones. Visit Friends or Relatives If you're lucky enough to have relatives within driving distance, plan a visit. You'll save on lodging and can eat at least some meals at home. Assuming that you want to be invited back, budget to take your hosts out for at least one nice meal and/or help with food costs. What you save on lodging can be used to enjoy some of the local attractions where your relatives live. Alternatively, you can invite your favorite friends or relatives to come and stay with you. Plan their visit the way you might a staycation-around a local festival or another event. Give your visitors some time on their own and create some fun activities to do together. Go shopping with your kids for a new game they can play with their cousins or grandparents. Work or Volunteer Travel If your children are older, consider volunteer tourism. Children as young as 12 are allowed to participate in many opportunities, and they are not "all work and no play." You can choose to stay in a jungle, a village, an eco-friendly surf resort, or a farm with plenty of opportunities to immerse in the local customs and enjoy adventure or relaxation. Expect to work together in activities like wildlife rescue, cleaning up beaches, comforting survivors, teaching skills, or building paths. By choosing a cause that your whole family cares about, you can enjoy an experience and culture that no one will forget and forge a deeper connection with each other. For many vacations, you just have to cover transportation. Room and board are included. Volunteer tourism is ideal for longer stays because many programs run for two to four weeks. Last-Minute Travel There are two ways to save on vacation travel-booking far in advance and booking at the last minute. Set yourself up for alerts with several sites like Travel Zoo or Kayak. Establish a budget beforehand and review offers that you can afford with your family. You may find bargain lodging near a water park, grab a last-minute Airbnb cabin or snag an all-inclusive resort deal. If you live near a port, even a family cruise for a few days is not out of the question-the all-inclusive nature of cruising can make it an inexpensive choice. The key is to be flexible and teach your kids the joy of spontaneity. To truly enjoy a bargain family vacation, it's helpful to remember why families vacation in the first place-to take time from the usual routine and be together. Vacation debt isn't considered good debt. Your future self will thank you for bringing costs down now instead of relying on credit. When your children look back on these times, it won't be the roller coaster or fancy hotel they recall. It will be the joy of spending time with people they love. This story was produced by Freedom Debt Relief and reviewed and distributed by Stacker. © Stacker Media, LLC.
Yahoo
22-05-2025
- Yahoo
5 ways to take an affordable family vacation this summer
You want to create memories and have a great time with your family this summer. And you can do that without causing a fall debt hangover—short on cash doesn't have to mean short on fun. Here are five fantastic summer vacation ideas from Freedom Debt Relief to bring your family closer without busting your budget. Key Takeaways: Family summer vacations don't have to be expensive or lead to overwhelming credit card debt. Staycations, visiting family, and volunteer tourism can create memories without breaking the bank. Last-minute deals can get you a great trip at a low price if you're flexible. Staycations (taking time off and having fun at home or near home) have more going for them than just savings. Travel is stressful. Dragging luggage through airports or driving for hours is no fun. Why not skip it? Here are a few ideas for a fabulous staycation: When people come to visit you, where do you take them? What does your local tourism agency promote? Restaurants, outdoor attractions, special events? Why not build a family vacation around these things? Let everyone stay up late and have a 'film festival.' Set up your streaming, invite friends, stock up on everyone's favorite treats, and pile pillows, blankets, and air mattresses on the floor. Set up another room for little ones when they tire out. Dress up in your finest, and all go out to dinner one night for a special treat. Head to an outdoor concert and take a picnic. Try an 'all American' summer activity like fishing, visiting a farm, or taking in a nearby county fair or ballgame. Go to a craft store with your kids and set them up with supplies, or enroll everyone in a fun class. Round the fam up for a day at the beach, mountains, or a pretty park. Camping in the summer is a time-honored tradition in many families. It can be inexpensive because you take your food and campsites often run just a few dollars a day. You don't even have to 'rough it' because many camps feature tent cabins (wood floors and canvas walls), yurts, RVs, or treehouses. Many clubs and church groups offer budget, all-inclusive camping vacations to members and non-members alike. You can send your kids off to safely play or craft while you enjoy a swim, a hike, a quiet lunch, or even a massage. One challenge of summer camping is finding a site that's not crowded or full. Seasoned campers avoid this by choosing from campgrounds that operate on a first-come, first-serve basis and getting there early. Your best shot is a Sunday or Monday morning arrival because most campers leave on Sunday. Another option is to camp a little further from the most popular beaches or parks. Often, there are less-traveled campgrounds within a 20-minute drive of the crowded ones. If you're lucky enough to have relatives within driving distance, plan a visit. You'll save on lodging and can eat at least some meals at home. Assuming that you want to be invited back, budget to take your hosts out for at least one nice meal and/or help with food costs. What you save on lodging can be used to enjoy some of the local attractions where your relatives live. Alternatively, you can invite your favorite friends or relatives to come and stay with you. Plan their visit the way you might a staycation—around a local festival or another event. Give your visitors some time on their own and create some fun activities to do together. Go shopping with your kids for a new game they can play with their cousins or grandparents. If your children are older, consider volunteer tourism. Children as young as 12 are allowed to participate in many opportunities, and they are not 'all work and no play.' You can choose to stay in a jungle, a village, an eco-friendly surf resort, or a farm with plenty of opportunities to immerse in the local customs and enjoy adventure or relaxation. Expect to work together in activities like wildlife rescue, cleaning up beaches, comforting survivors, teaching skills, or building paths. By choosing a cause that your whole family cares about, you can enjoy an experience and culture that no one will forget and forge a deeper connection with each other. For many vacations, you just have to cover transportation. Room and board are included. Volunteer tourism is ideal for longer stays because many programs run for two to four weeks. There are two ways to save on vacation travel—booking far in advance and booking at the last minute. Set yourself up for alerts with several sites like Travel Zoo or Kayak. Establish a budget beforehand and review offers that you can afford with your family. You may find bargain lodging near a water park, grab a last-minute Airbnb cabin or snag an all-inclusive resort deal. If you live near a port, even a family cruise for a few days is not out of the question—the all-inclusive nature of cruising can make it an inexpensive choice. The key is to be flexible and teach your kids the joy of spontaneity. To truly enjoy a bargain family vacation, it's helpful to remember why families vacation in the first place—to take time from the usual routine and be together. Vacation debt isn't considered good debt. Your future self will thank you for bringing costs down now instead of relying on credit. When your children look back on these times, it won't be the roller coaster or fancy hotel they recall. It will be the joy of spending time with people they love. This story was produced by Freedom Debt Relief and reviewed and distributed by Stacker.
