Freedom Debt Relief Overview
Introduction
- Ascend Finance YouTube channel focuses on debt relief companies.
- Aim: Help understand cost, legitimacy, pros, and cons of debt relief to aid in decision-making.
- Presenter: Ben, former CEO of a debt relief firm.
Main Topics Covered
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Is Freedom Debt Relief Legitimate?
- Freedom Debt Relief is considered a legitimate company.
- Important to understand cost, legal implications, and credit score impact.
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Hiring a Debt Relief Firm vs. Settling Debt Yourself
- Firms may charge up to 25% of enrolled debt as fees.
- DIY debt relief calculator available for estimating costs and duration.
- Consider all options using free resources to make informed decisions.
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Cost of Freedom Debt Relief Fees
- Fees are a percentage of enrolled debt (15-25%).
- Example: $10,000 debt could result in $1,500-$2,500 fee.
- Important to compare quotes and understand client service agreements.
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Legal Implications: Can You Be Sued?
- Possible to be sued during a debt relief program; depends on creditors.
- Accounts may be sent to collections or law firms.
- Important to understand creditor-specific risks.
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Impact on Credit Score
- Likely negative impact, especially if accounts are current.
- Accounts fall behind, leading to a drop in credit score.
- Settlements marked as "paid settled for less" instead of "paid in full".
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Decision Making: Should You Sign Up?
- Consider own financial situation and available resources.
- DIY debt calculator can assist in decision-making.
- Pros and cons exist for both DIY and hiring a firm.
Conclusion
- Decision to join a debt relief program is personal and should be well-informed.
- Use available resources and contacts for guidance and evaluation.
- Contact for assistance: Call or text 833-272-3631 for evaluations or questions.
This summary provides an overview of the key points discussed regarding Freedom Debt Relief. Use it to understand the basic details and implications of joining a debt relief program.