#CANCEL FREEDOM DEBT RELIEF FULL#
#CANCEL FREEDOM DEBT RELIEF PROFESSIONAL#

This is your Dedicated Account, and it’s where you’ll make your monthly program payments. Work with ADR to set up a special savings account that you control.

Set Up Your Dedicated Account and Customize Your Deposit.

In consultation with your ADR rep, determine which debts you want to enroll in the program. Discuss your financial situation and debts with an ADR representative to determine whether you’re a good fit for the company’s debt relief services. You won’t be kicked out of the program if you miss a single payment, but ADR insists on consistent payment for best results.Īccredited Debt Relief has a simple, three-step onboarding process: You must have the financial capacity to make consistent monthly payments. Note that not all unsecured creditors negotiate with debt relief companies like ADR. Debts secured by collateral, like home loans and auto loans, aren’t eligible. ADR only works with unsecured debts, such as credit cards, unsecured personal loans, payday loans, and medical bills.

You don’t have to enroll all your eligible debt but do have to meet this minimum balance. You must enroll at least $10,000 in eligible debt to participate in the program. What happens if you decide to withdraw from the programĮligibility Requirements for Accredited Debt Relief’s Debt Settlement ProgramĪccredited Debt Relief’s debt settlement program has three key eligibility requirements:.What to expect from its negotiation and debt settlement process.The eligibility requirements for its debt relief program.Key Features - Accredited Debt Relief ProcessĪccredited Debt Relief helps people consolidate their debt without a loan and negotiates unsecured debt settlements on their behalf.

#CANCEL FREEDOM DEBT RELIEF FULL#

Total Timeframe to Full Settlement: Varies, but typically 1 to 4 years Minimum Enrolled Debt: $10,000 for debt settlementĭebt Settlement Fees: 15% to 25% of enrolled debt Let’s see how it compares to Freedom Debt Relief, which also offers debt settlement for people with significant unsecured debts. It’s not the only debt relief company in the United States though. Read on to learn more about its process, upsides, and downsides.Īccredited Debt Relief is a top provider of debt relief and a nationally recognized leader in debt settlement specifically. If you’re straining under the weight of your unsecured debt balances, Accredited Debt Relief deserves your consideration. For the trouble, ADR takes a healthy cut of the amount of debt enrolled in the program, although many still come out well ahead.

#CANCEL FREEDOM DEBT RELIEF PROFESSIONAL#

Professional debt settlement companies like Accredited Debt Relief (ADR) exist to help consumers pare down this type of obligation, which can wreak havoc on household budgets.Īlthough ADR makes no guarantee of results, it advertises its ability to reduce enrolled debt balances by up to 50% and help clients zero them out within approximately two to four years. Together, that’s more than $1 trillion in high-interest, unsecured consumer debt. Personal loan balances grab another $323 billion. That’s an increase of 31% from a decade earlier.Ĭredit card balances account for approximately $756 billion of that consumer debt load. consumer debt approached $15 trillion in 2020, according to Experian. This settlement is subject to approval by the court.Total U.S. The Bureau will remit $493,500 of the $5 million civil penalty it assessed in light of the penalty that the company was ordered to pay the FDIC. The company has also agreed to a consent order with the Federal Deposit Insurance Corp (FDIC). Today’s settlement enjoins Freedom Debt Relief from engaging in this conduct in the future. The Bureau also alleged that Freedom Debt Relief violated the Consumer Financial Protection Act of 2010 by charging consumers without settling their debts as promised, charging consumers after having them negotiate their own settlements with creditors, and misleading consumers about the company’s fees and its ability to negotiate directly with all of a consumer’s creditors. The Bureau’s lawsuit alleged that Freedom Debt Relief violated the Telemarketing Sales Rule by charging advance fees and failing to inform consumers of their rights to funds they deposited with the company.

Cancel freedom debt relief