We’re your partner
Custom-designed to get you significant savings on what you owe, your Freedom Debt Relief program can help you put your debt behind you. Resolving your debt will take time and effort, but we’ll be with you every step of the way.
Commitment is the Key to Success
Stick to the program we designed for you, and we’ll help you put your debts behind you.
- Stay on schedule with deposits to your Dedicated Account
- Respond to us as quickly as you can whenever we contact you
- Let us know if creditors contact you or if your financial status changes
Your Dedicated Account
Nothing is more important than staying on schedule with your monthly program deposits. Just like an engine powers a car, your Dedicated Account powers your Freedom Debt Relief program-each deposit gets you closer and closer to being free of your debts.
As soon as your Dedicated Account has enough funds, we put your custom plan into action:
Frequently Asked Questions
These are just a few of the most frequently asked questions. To see a complete list, log into your Client Dashboard now.
No. Every debt is a unique negotiation, and there is no guarantee as to how each negotiation will go. Our ability to negotiate the best settlement for you is highly dependent on you consistently committing to your Dedicated Account deposit schedule and voluntarily allowing your accounts to go past due.
You do. Your Dedicated Account is set up in your name, and the money in the account is yours. We recommend keeping your funds in a new account separate from your existing bank accounts because experience has shown this separation dramatically increases the odds you will succeed in the program.
Making your monthly program deposits on time is the most critical thing you can do to help ensure success in the Freedom Debt Relief program! Missing a deposit could prolong your program, put future negotiations at risk and force any existing structured settlements to become null and void. If you miss a program deposit, call Customer Service at 800-655-6303 right away and we can help you find a way to get back on track.
We begin designing your custom negotiations strategy soon after enrollment, but actual negotiation activity depends on who your creditors are, delinquency of your accounts, and the overall strategy we’ve put in place.
The first settlement typically happens within four to six months of a client’s program, but this varies depending on monthly deposit amount, the number of creditors enrolled in the program, and individual account balances. In some instances, it may take more than six months before the first settlement is reached.
Yes, because your authorization is required to move forward. As soon as we reach settlement terms, we’ll reach out to you via text, email, and alert you on your Client Dashboard. To ensure the settlement offer does not expire, you need to respond as quickly as possible.
The IRS considers a forgiven debt to be taxable income, and if we have saved you more than $600 on an enrolled debt, you may receive an IRS Form 1099-C, Cancellation of Debt. At the end of the year, if the creditor reports the forgiven debt, the IRS will expect taxes to be paid on the settlement. The IRS also has Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness, which may exempt you from this tax. Please contact a tax advisor to discuss this issue further.
Creditors do have the right to send debts to collection agencies and/or law firms to collect a debt. If this happens to you, don’t worry. Our Advanced Negotiations team will negotiate for you with the goal of resolving the debt. We will continue negotiating to settle the debt, although the percentages associated with settlement of these kinds of debts are often higher than typical settlement negotiations. Please note that we are not a law firm and cannot provide legal advice or legal representation.
Our program is focused on settling unsecured debts (credit cards, medical bills, unsecured personal loans, etc.). We can’t help with debt that is secured by collateral (such as mortgages or auto loans). However, after completing the program, the money you had been paying towards your unsecured creditors can be used to pay down secured debts and start saving for your financial future.