Your debt has overtaken you, and you’ve finally decided that you can’t manage it on your own. You need help – and fast. Debt relief fits your circumstances, but you don’t know how effective it’s been for people like you. With that in mind, here are some debt relief success stories that can give you a good idea of how the financial solution can put you back on track.
What is Debt Relief?
Sometimes referred to as debt settlement, debt relief is a financial solution that entails hiring a company to negotiate with your creditors – typically credit card issuers – to get them to accept less than what you owe to have your obligation marked as “settled” on your credit reports. Why would creditors go along with this? Well, something is better than nothing, and besides, they know that if you file bankruptcy, they very well could wind up with nothing.
How the program works is, you’ll enroll then consult with a representative. Rather than pay your creditors directly, you’ll begin depositing funds each month into an escrow-type account from which your creditors will ultimately be paid. Negotiations will begin once you’ve saved a pre-determined amount. You’ll subsequently make a one-time payment in full to “settle” each debt. The program doesn’t charge until settlements are reached.
What Kinds of Debts Does Debt Relief Cover?
It varies by company, but in addition to credit cards, debt relief typically will handle most debts that aren’t tied to collateral. Such unsecured debts often include personal loans or medical bills.
How Long Do Settlements Take?
This also depends on the company, but your program will usually take between two and four years – substantially less than how long it would take you to clear your debts on your own. That could take decades. Having said that, your first settlement could come within months of enrollment.
What About Debt Relief Reviews?
Here are a few Freedom Debt Relief’s reviews from a variety of sources including Lending Tree, Consumer Affairs, and Trustpilot. They will give you a good idea of what a reputable debt settlement company can do for you. Since 2002, FDR has enrolled more than 500,000 clients in its debt relief program, helping to relieve many from unrelenting debt.
- From Lennell S., 2019. “Freedom Debt Relief has gotten started on two out of three settlements for me. I’m so grateful for the Freedom Debt Relief team. They are saving me a tremendous amount of money!”
- From Judy, 2019. “Freedom Debt Relief has been very helpful. They negotiate with creditors so quickly and has brought down my payments to a lower amount. I would recommend Freedom Debt Relief to friends because if they can help me that quick with my debt problems, they can help them. Thank you, Freedom Debt Relief, for your help.
- From Eva, 2019. “I was buried in debt and couldn’t pay my way out. They are taking care of me. I’m now paying less than half of all those things every month and it is giving me peace of mind. I am very happy with it.”
- From Kenneth, 2018. “This program is excellent. Had my first settlement in a month and a half. The payments are half of what I was paying.”
- From Bridgette, 2019. “Bad things happen to good people. Life not going the way we plan, defying all of what good stewardship is about. I was asking for refinancing or personal loan to possibly repay at lower interest. But I couldn’t find a yes. …What’s the good thing that’s happened to this person? Freedom Debt Relief and representative Jaime Miranda.”
While that’s a mere sampling of debt relief success stories, you now have an idea of how debt relief can put you in a better place, financially speaking. Now, scams do abound in the debt settlement industry. That’s why we recommend Freedom Debt Relief. In addition to a great track record, the company offers accreditation, experience, and expertise.