Reviews (1)

After facing more than $20,000 in credit card debt and getting refusal upon consolidation loan refusal from various lenders, I received a phone call from Freedom Debt Relief. One of the lenders that rejected me for a consolidation loan forwarded my info to FDR and the rep explained their approach to debt relief.

I was very hesitant at first. The idea of simply stopping my credit card payments in order to settle my credit card debts for less than I owed was very scary. After all, it's embedded in your memory to "pay your bills on time" and dealing with debt collectors was not something I wanted to deal with. But the rep was a smooth talker, and after getting nowhere making credit card payments, I stopped paying my credit card bills, gave the money I would normally pay to FDR, and let them handle the credit card companies when they saw fit.

When I started the program, I had seven credit card bills and as I previously mentioned owed approximately $20,000. In the first year, they were able to settle two of those debts at about half of what I owed. I would constantly check my credit reports (at that point it was down in the upper 500’s because of all those cards I stopped paying). When these two debts were settled and reflected on my credit report as not delinquent anymore, I knew FDR was for real and was happy to give them my hard earned money to settle my remaining debts!

A year and a half into the plan, I received a series of calls from FDR with an enticing new deal! Since I had been faithfully sending FDR payments without skipping, I was given the option to participate in Freedom’s “Consolidation Plus” consolidation loan repayment plan. They would settle the remainder of my debts and I would pay Freedom back in terms of a high-interest loan. The loan itself, at 23% interest, was a tough pill to swallow but it’s about the same APR that the credit cards carried and at the time that the time my credit score was so low so beggars can’t be choosers! I went for the loan and once all of my debts were settled, I only owed $13,000! That was a savings of $7,000!

Over the course of the next two years, I got a second job in order to pay FDR and the consolidation plus loan. I initially was giving FDR $170, twice a month ($340 total). The CP loan term was five years, but due to the second job, I was able to give them much more! I gave them $425 every two weeks for two years and successfully paid the loan off early! My credit score is now back in the lower 700’s and while I’ve managed to acquire some credit card debt since it’s only $1,500 and I plan on keeping it that way!

Freedom Debt Relief saved my financial life in many ways and would highly recommend them to anyone overwhelmed in debt! FDR works, but only if you let it. You simply can’t just not pay them and have them work for you like that. You have to be willing to trust them, pay them, and be willing to make sacrifices in order to get rid of your credit card debt. Be like me and get a second job if you have to! Just remember, nobody forced you to get in the kind of debt that you’ve accumulated in the first place! If you need help from companies like Freedom Debt Relief, be ready to do your part to ensure that your debts get settled.

Hopefully, I’ll never have to use them again, but my experience with FDR has taught me a lot about debt, knowing my spending limits, and NOT to abuse your credit cards and refuse credit limit increases. Thanks again Freedom for all your help!