![]() ![]() And New York's attorney general is investigating FDR and 13 other debt-settlement firms. ![]() FDR has also been forced to refund money to customers in Colorado and Rhode Island. Freedom Financial Network rates lower than National Debt Relief on Leadership Culture Ratings vs National Debt Relief Ratings based on looking at 63 ratings. To settle the lawsuit, FDR agreed to pay the San Mateo County district attorney's office and the California Department of Corporations $450,000 in fees and court costs and $500,000 in refunds to customers without admitting wrongdoing.Īs a result of the suit, an earlier complaint by the California Department of Corporations alleging that FDR operated in the state for seven years without a license, in violation of a 2002 desist and refrain order, was withdrawn. Debt consolidation options often have lower interest rates than the ones you’re currently paying, so you can typically save money. In addition, the suit said, customers who wanted to find out the status of their settlements were often rebuffed by the company, and some were denied the money-back guarantee it advertises. To speak with a financial counsellor contact the National Debt Helpline on. But Freedom Debt Relief continued to charge them for administrative and service fees for about the first 18 months the accounts were open. If you havent paid your debts, the person or organisation you owe money to. It also charged that many clients never finished the debt-relief program, even after months or years. 1 day ago &0183 &32 Affirmative action, student debt relief hang in balance as supreme court to issue more decisions The US supreme court in Washington DC. Customers deposit about 15 percent of the amount they owe into a bank account and give FDR power of attorney so that it can access the money to settle their debts.Ī 2009 lawsuit brought by the district attorney's office in San Mateo, Calif., charged that the company often "did not even contact all of the consumers' creditors to negotiate a settlement." After months of being told FDR was settling their accounts, many consumers found that creditors had sent their accounts to a collection agency or had initiated legal actions against them, the suit alleged. Student loans can be a heavy financial burden, making it more difficult to save money, build up a down payment for a home, or make ends meet. ![]() (FDR is also an umbrella group that includes, Freedom Financial Network, Freedom Tax Relief, and several others.) It operates like other settlement companies often do. Freedom Debt Relief (FDR) claims to be a leader in the debt-settlement industry and says it has helped consumers erase more than $500 million in debt since 2003. Freedom Debt Relief (FDR) claims to be a leader in the debt-settlement industry and says it has helped consumers erase more than 500 million in debt since 2003. ![]()
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