My family is currently enrolled in freedom debt relief. We send money monthly. Is there a way to see what money they have put toward paying the credit cards, to see which debts have been paid?
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I don’t think you understand how this process works: You pay a monthly fee to a debt consolidator..in this case Freedom Debt Relief….This entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies are deliberately not being paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%.
When your credit cards have defaulted and there is enough money built up in your settlement account, THEN they contact your creditors about settlements. Until then, your creditors are not being paid.
I hope you understand the risks inherent in this process. Many people who sign up with “debt consolidation” firms incorrectly assume that they have the power to force your creditors to accept settlements…they don’t. Your creditors have the right to refuse settlements and take you to court. This many lead to a judgement and possible wage garnishment.
Freedom Debt Relief is not the answer to your financial problems. This company has a bad rating with the better business bureau and countless customers have been ripped off. The better business bureau has given Freedom Debt Relief an F and there are 196 complaints against this business.
“In the end, most consumers who turn to debt settlement firms for help wind up worse off than before — with higher debts and lower credit scores than when they first asked for help,” Susan C. Keating, president of the National Foundation for Credit Counseling, said in a recent statement.
I’ve heard the stories. The consumer stops paying his debt on the advice of the debt settlement company. The fees start piling up. The creditor sues the consumer. Even if the debt eventually is reduced, the fees for getting this done were high, debt forgiveness can trigger additional federal income tax, and the experience was very rough. Freedom Debt Relief was recently issued a subpoena from New York Attorney General Andrew Cuomo.
The money you have paid is not even going to your debts at this point. You made the mistake of giving your money away to a bad firm. You should have read your contract. It PLAINLY states that they do not pay ANY creditors until the term is complete. They do not send money each month to your creditors although you are sending money to them each month. That is how they negotiate at the end of the term. Your creditors can sue you for non payment.
You chose the worst possible scenario to try and solve your debt problems. FDR is not an easy way out – you’re just paying them to do what you can do yourself, in less time, with less grief, and with better results. Why would you pay FDR to get you of the the debt you got yourself into, while allowing them to make a profit? Their profit can go towards your debt.
Contact your credit card company and negotiate directly with them -just as you would negotiate for any other product or service.
Yes, you actually have a few options.
There is a cool nonline log-in where you can check your progress, $ savings to date, how much is in your bank account and some other cool tips: https://www.fdrclient.com/login.php
If you don’t want to do it on your own, you can call in and have them do the look up for you. Ask them when your next settlement will be and how things are going. Any settlement program is best when you stay in touch and check in regularly.
Either way you get what you need, but the online portal looks pretty cool and let’s you check in whenever you want.
Good luck getting out of debts.
You can call up the customer service department and find out the current status of your account. You can also ask to get access to their self service website (www.fdrclient.com), where you can check the status of your savings, look up upcoming drafts and communicate with customer service.
Freedom Debt Relief is one of the major Debt Relief companies in US. Freedom Debt Relief’s “Debt Reduction Program” is uniquely aggressive and customer-centered approach to debt relief.
As you are already enrolled in their program, you can either call customer service (800-544-7211) or can access your account at https://www.fdrclient.com/login.php to see the status.
Hi Mike,
I also had done debt settlement with Freedom Debt Relief. We can check the status of our account through their site http://www.fdrclient.com
They are a charter member of TASC (The Association of Settlement Companies) and into debt relief for a long time. I found their services very transparent and helpful.
As you know, credit card debt settlement is the process in which you stop paying your creditors for some time and save that money so that you can then negotiate with them to settle the debt for a lesser amount.
It is better to contact Freedom Debt Relief’s customer care to know the exact status of your account. You don’t have to worry as they are one of the few reliable companies in debt relief.
Mike,
You can always check the status of your program at http://www.fdrclient.com. I had settled my cc debts with their help. It was a nice experience working with them.
I used their service a while ago. Call the client support line at 800-544-7211 and they will walk you through setting up your online account at https://www.fdrclient.com/login.php.