Freedom Debt Relief: 2022 Review



If you have large debts that you are having trouble paying, you might want to consider using a debt relief company. A debt relief company is a company that will try to help you negotiate with your creditors to reduce your debt. They are sometimes called debt settlement companies or debt relief companies.

Freedom Debt Relief is one of the nation’s largest debt relief companies. By September 2020, they had helped 750,000 clients settle more than $ 12 billion in debt. Like any debt settlement company, they cannot guarantee that all of your debts will be reduced and settled through their program, but they promise to try and negotiate lower dues for any unsecured debt you have.

Working with Freedom Debt Relief has been helpful for many consumers with debt, according to customer reviews on the Better Business Bureau (BBB) ​​website. But, the company billed others for unwanted fees and even faced legal action from the Consumer Financial Protection Bureau.

Using the Freedom Debt Relief program may be right for you if you are unable to pay your debts and face extenuating financial circumstances. Read on to learn more about the company and its program.

Freedom Debt Relief Review


Generally from 15 to 25%, the fees may vary depending on the state of residence

Minimum debt required

$ 7,500

Time range

Usually 24 to 48 months, but the total duration varies depending on the individual

Estimate of savings

Up to 50% of your current debts

Best for

Individuals with high unsecured debt and a pre-existing bad credit rating

Not recommended for

People with good credit and people who can work to negotiate their own debt

BBB Rating


Freedom From Debt Relief Debt Settlement Pros And Cons Française |


The inconvenients

Their Debt Advisors Can Negotiate Lower Debt For You

Settlement fees can be high

No upfront settlement fees

They cannot guarantee that your debts will be reduced

Graduates of their program will be released from their unsecured debt

Your credit may be negatively affected

Freedom Debt Relief Review

Freedom Debt Relief is not for everyone. They have had significant success in helping their clients settle their debts, and they have an A rating from the Better Business Bureau (BBB). However, they were sued by the Consumer Finance Protection Bureau in 2018 for billing customers without paying their debts as promised.

If you are interested in working with Freedom Debt Relief, make sure you know the terms and conditions that you are signing up for. You should also consider all of your options before deciding to work with them, as there may be better options available for your situation.


If you’ve decided to work with Freedom Debt Relief, they have a five-step process to help clients with their debt relief program:

  1. Evaluation: During this step, one of the company’s debt counselors will help you complete a financial assessment and determine your eligibility for the program. This step is free and is designed to determine if you are the right fit for their program.
  2. Deposit: If you qualify and decide to enroll in the Freedom Debt Relief program, you will begin making monthly deposits to an FDIC insured account for which you are responsible. During this step, you will also be asked to stop making payments to your creditors. Once you have saved a significant amount in your account, the trading process will begin.
  3. Negotiation: Throughout the negotiation process, the Freedom Debt Relief team will strive to reduce your debts. The length of this process varies depending on how many debts you have to settle and how long creditors are trying to negotiate.
  4. Settlement: When a settlement is reached, payments are made to your creditor. Your payment to Freedom Debt Relief will also be processed at this point.
  5. Diploma: Once all the debts are paid, you are considered a graduate of the debt relief program. It is important to note that not all program members reach this milestone because debt settlement cannot be guaranteed.

Qualification requirements

Only unsecured debt is eligible for the Freedom Debt Relief Program. It means debts like credit cards, unsecured personal loans, and medical bills. Secured debt, such as a mortgage or car loan, is not eligible. To be eligible for the program, you must have at least $ 7,500 in unsecured debt.

Time range

The estimated time frame for the Freedom debt relief program is 24 to 48 months. However, each individual is different and the process may be shorter or longer than this time frame. Freedom Debt Relief works with each client to design a schedule to suit their budget and financial goals, so the schedule can be flexible based on your needs.

Who is Freedom debt relief for?

Many companies offer debt settlement. How do you know if Freedom Debt Relief is right for you? Consider all of your options before signing up for a debt relief program, but Freedom Debt Relief could be for you if you are facing the following circumstances:

  • You have more than $ 7,500 in unsecured debt
  • You have extenuating circumstances that make it difficult or impossible to repay your debt
  • Your credit score is already low

Freedom Debt Relief probably isn’t for you if you:

  • Unable to save enough money to repay partial amounts from your debit
  • Have less than $ 7,500 in unsecured debt
  • Have a good credit score that you would like to keep
  • Able to settle debts through other alternatives

What to watch out for

As with any company you work with, you should know all the factors before signing up for a Freedom debt relief program. Like any debt settlement company, Freedom Debt Relief cannot guarantee that it will reduce your debt.

The company has an average of 4.6 out of 5 stars based on customer reviews via the BBB. Many negative reviews cite the high settlement fees as a disappointment. But, many other reviews mention that the company has genuinely helped with debt settlement and that they are happy with the business.

Prospective customers should also be aware that the company was sued by the Consumer Financial Protection Bureau in 2018. The lawsuit alleged that Freedom Debt Relief charged customers a fee before their debt was settled and misled consumers about their fees. The lawsuit was settled in June 2019 and the company had to pay $ 20 million in damages to affected consumers.

Freedom Debt Relief Fees and Conditions

According to federal law, no debt relief company can charge an upfront fee. Freedom Debt Relief follows this law in its terms. Once billed, their fees may vary by state, but typically they’ll be between 15% and 25%.

Enrolling in the program could also have a negative impact on your credit score in the short term. Their debt settlement program asks you to stop making payments during the negotiation phase, so missed payments could mean bad credit.

Participating in the Freedom Debt Relief program also means that you could potentially be sued by a creditor. While Freedom Debt Relief works with a legal team to help you if this happens, there is still a possibility of prosecution.

Freedom Debt Relief should outline all of its terms and fees to you before signing up for the program. If you are considering signing up, be sure to read all of the details so you know what you are getting into.

Other Debt Relief Services

When considering Freedom Debt Relief as an option, know that it is not your only choice. There are other ways to get debt relief, so consider that in your decision as well.

  • Work with other debt settlement companies. Freedom Debt Relief is not the only debt relief company. When you are considering them, you should also research other debt settlement companies to make sure you get the best service.
  • Negotiate the debt yourself. It is possible to negotiate your debts yourself. Although it takes time and persistence, you can save the costs of a debt settlement company if you’re willing to do the job on your own.
  • Declare bankruptcy. Filing for a Chapter 7 bankruptcy will remove your liability for discharged debts. To see if you qualify for this, you may want to consult a lawyer.
  • Budgeting. If you can, consider reworking your budget to pay off your debt. Could you trade in your car for something cheaper? Do you have unnecessary monthly expenses? Nip a few pennies temporarily might be worth it if you can pay off the debt on your own and avoid additional charges and the possibility of a bad credit score.


Freedom Debt Relief is a reputable company that has helped many clients. They may also be able to help you. However, using their service is not without costs and risks. Know all the terms and conditions before signing up for their debt relief program. You should also consider all of the options before signing up for a debt relief program.

How Bankrate rates Freedom debt relief

Discount rate



Services were rated based on minimum debt eligibility, eligible debt types, and whether or not the company provides free credit counseling.


Affordability was assessed based on the associated costs and whether or not the company specifies the terms of the money back guarantee.

Client experience

The customer experience was evaluated based on the usability and functionality of the website, as well as the availability of the applications. Customer satisfaction and the company’s reputation were assessed based on Better Business Bureau accreditation and reviews, as well as TrustPilot reviews.


Stability was assessed on the basis of the length of business activity and whether or not it remains a member of a professional association.

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