How Debt Resolution Works

Freedom Debt Relief's Fresh Start Program can be very effective. Here is a step-by-step overview of the program and 7 steps to getting debts resolved:

Step 1: Call or e-mail us for a free consultation. We will assess your financial situation and determine your potential for debt reduction. We will consult with you to understand your goals and evaluate your creditors and your situation to design a customized program that fits your needs.

Step 2: We will work with you to determine the appropriate monthly dollar amount that you plan to save towards negotiated resolutions of your enrolled debt. This monthly amount can be significantly less than your current minimum payments, and goes toward resolving your debt (not simply paying credit card interest charges). These monthly funds will be saved every month in a new account that you set up and control. Freedom does not charge any upfront or monthly fees; The only fees we collect are those associated with debts we actually resolve for you. Once you get a comfortable monthly program payment established that meets your budget, you will get an estimate of your savings potential and program length. Most programs average between two and four years, although individual results may vary.*

Step 3: Once you enroll in the Fresh Start Program we become your credit advocate, working on your behalf. You are requested to avoid using credit while on the program, so that we can work to resolve your debt.

Step 4: After funds have accrued sufficiently, we contact your creditors to negotiate resolutions on your enrolled debts. During this settlement and resolution phase of your program we stay in contact with you to keep you apprised of your situation - and you actually have the opportunity to approve each and every settlement. Please note: actual time to reach settlements varies by program and it may take several months of savings before we are in a position to complete a successful resolution.

Step 5: Once a settlement is successfully negotiated with a creditor, you will be asked to authorize the settlement, after which we will send you a "Good News" notification from us. This Good News letter will detail the settlement terms and your savings amount on each account.

Step 6: After the debt resolution is negotiated and a payment is made toward that settlement, you pay only the fee associated with that individual debt. We earn our fees AFTER you get results!

Step 7: After the full settlement amount is paid, your creditors may report to the credit rating bureaus that your accounts are "settled in full," "settled," "paid," "paid by settlement", or "settled for less than the full amount." Either way, you no longer owe on this account and the balance is zero. Congratulations, you have now resolved that debt and Freedom will continue working hard on your other enrolled debts until they are resolved!

After the Program: If you are interested in purchasing a home, purchasing an automobile, or related financial services products - we can help you find a company to apply for access to other products. Or, if you simply want to talk about a financial services decision, we will always help you think about your best strategy for building personal wealth.