Who Knows About FREEDOM DEBT RELIEF?

I'm consdering hiring their services to take care of my debts. I've been hearing a lot about them from people I know who've been in the same situation as I have, and I want to know what you guys think abt them. Kind of like expert advice and all that. So can you guys give me a heads- up abt these guys? Thanks

Hmmm all I know is that they're members of The Association of Settlement Companies, or the TASC. They're a group of debt settlement firms that exist to help advance good practices and provide consumer protection. They're actually an accredited member of this, so I guess that;s a good thing.

Yeah, I agree, Freedom Debt Relief looks like hot stuff. They are actually one of the biggest debt relief firms in the country. I've checked out their site and apparently they;ve received a lot of awards. The company's founders are apparently Stanford Business School alumni, and to add to what Caffeinatrix said, these guys are founding members of the TASC as well. Seems to me like they are complying with laws and such. They have not had any cases with the Federal Trade Commission, either.

From the looks of it, their customers seem satisfied, too. A hundred million dollars' worth of client debts are settled under this company annually. I'd recommend these guys, they seem very knowledgeable in their field.

Apparently the company has a poor rating with the Better Business Bureau. They have received numerous complaints against consumers for various reasons, ranging from contract issues to sales practice issues. Here's proof.

http://www.bbb.org/greater-san-francisco/business-reviews/debt-negotiation-companies/freedom-debt-relief-in-san-mateo-ca-65019

Something I'd like to highlight: "It has come to the BBB's attention that
Freedom Debt Relief has continued to operate despite a desist and refrain order issued through the Department of Corporation on May 29, 2008."

Hmmmm.

Freedom Debt Relief requires its customers for an initial set up fee of 15% of the actual loan balance. This measure is spread out over the initial 19 month-period of the payment program. Their shortest loan payoff period is 24 months, while the longest would be 36 months. They do not charge monthly fees nor settlement fees. Also they've received 139 BBB complaints since they began business in December 2002.

It's interesting to note that out of the 139 complaints the company has received, only 84 have been resolved, which means 55 of these cases are still open for investigation and have not received any resolution from the organization's end.

The company was also sued by San Mateo, CA county court due to unlawful business  practices. Disgruntled customers claim that the company gave their customers false and misleading statements about themselves through the Internet and over the phone.

It sounds like people interested in debt settlement may want to shy away from Freedom Debt Relief in light of these facts. If you are interested in getting matched up with a reputable debt relief company feel free to fill out a form on DestroyDebt.Com for a free consultation.

If anyone is considering the services of Freedom Debt Relief they should check out all the complaints and lawsuits currently against them. Better yet, call any or all of the following:San Mateo County, California District Attorney's Office, Better Business Bureau,  or the California Corporation Commission. It should be a pretty easy decision if you speak to any of those places just mentioned. 

They are one of the leading firms in the debt settlement business.  They have over 30000 clients for whom they save millions of dollars each day.  They are one of the pioneers in the debt settlement space.  Recently, a lot of competitors seem to be focussed on the new lawsuit that they are facing.  If you read into what the lawsuit claims, you will see that they are alleging that FDR provides credit counseling services, when in fact they provide negotiated debt settlement.  They are fighting the case.
That being said, be sure to get a consultation from them before you enroll.  Most people do not understand how debt settlement works and are just looking to dump their debt problems on someone else.  Debt settlement only works if you are going through a financial hardship, and are possibly looking into bankruptcy as a solution.  After looking into your creditors and the balances, FDR should be able to give you an estimate of your savings and the approximate duration of your program.  See what kind of estimates some of the competitors provide and then decide for yourself.

I would like to share some facts I found about Freedom Debt Relief:

1. Freedom Debt Relief appears to be one of the largest debt resolution firms in the country, settling over $100 million in client debts per year and managing over a billion in consumer debt (making them one of the largest).
2. The Founders of the Company are Stanford Business School alumni with impressive backgrounds in the financial services industry.
3. One of the Founders of Freedom Debt Relief is on the Board of Directors of The Association of Settlement Companies (TASC) and was a Founding Board Member of USOBA -- as elected by their peers in the industry. So their competitors think they are good too and they conform to industry standards on compliance and best practices. They are also very active in setting regulations and standards in the industry to protect consumers. They've won many awards (Best Places to Work in Phoenix, Best Places to Work in San Francisco, Entrepreneurs of the Year from Ernst & Young, Fast 100 list by Entrepreneur Magazine, Inc 500, etc).
4. Their debt consultants are IAPDA certified and they are one of the few companies to be TASC and BSI certified for excellent customer relationships. They look solid and credible, having been around long enough to have thousands of graduates and to have dialed in their systems and business procedures.

It is an undeniable fact that there is an unhealthy competition among debt relief companies and some of them are using forums such as this to tarnish the image of their competitors.

And in similar fashion people who work at Freedom Debt Relief come on to these forums to try and defend their company when all that these people did was report facts about the organization.