San Mateo, Calif. (PRWEB) October 23, 2012
Freedom Financial Network (FFN), the largest negotiator of consumer debt in the nation, reported strong third-quarter results that include resolution of $108.5 million of debt for clients, and increasing employee count by 10 percent.
FFN’s results – which equate to settling nearly $1.2 million of debt each day throughout the quarter, or more than $49,000 each hour – were up 6 percent over the second quarter. The company negotiated settlements on 19,137 individual creditor accounts – a 4 percent increase over the previous quarter. Settlements helped more than 15,000 clients, according to Andrew Housser, co-founder and co-CEO of FDR.
“While the latest financial data released by national sources indicates an improving economy, we still find that many consumers need help with serious levels of debt accumulated over time,” says Housser. In fact, the average total client debt for FFN’s clients at the time of enrollment in the company’s debt relief program was $32,411, up slightly from the second quarter.
FFN offers clients the Freedom Debt Relief program. Consumers pay no up-front fees, and pay only those fees associated with an individual debt when FFN has resolved that debt. This practice is in accordance with the advance fee ban that the Federal Trade Commission (FTC) has mandated on the debt relief industry.
Due to the strong third-quarter results, which FFN projects to continue, the company was able to add more than 50 new employees – an additional 10 percent – to its workforce during the quarter. “It is rewarding to see the tremendous effort we have put into delivering results under the new FTC regulations starting to pay off,” says Housser. “FFN’s success has allowed the company to start growing its workforce again, adding jobs at a time when the economy is still struggling.”
FFN is a consumer credit advocate that negotiates directly with creditors on consumers’ behalf to resolve debt balances. Offering an alternative to credit counseling, debt consolidation and bankruptcy, the company’s debt relief program helps clients who qualify for, and commit to, the program resolve their unsecured debt, often in 24 to 48 months. According to Housser, this type of debt relief is best suited for individuals who are carrying serious debt, who are struggling to make required minimum payments, and who would otherwise often be considering bankruptcy or credit counseling.
Freedom Financial Network (http://www.freedomfinancialnetwork.com)
Freedom Financial Network, LLC (FFN), provides comprehensive consumer credit advocacy services. Through its Freedom Debt Relief, Freedom Tax Relief and ConsolidationPlus products, FFN works as an independent advocate to provide comprehensive financial solutions, including debt settlement, debt resolution and tax resolution services for consumers struggling with debt. The company, which has resolved more than $1.5 billion in debt for more than 120,000 clients since 2002, is an accredited member of the American Fair Credit Council, and a platinum member of the International Association of Professional Debt Arbitrators. The company holds the Goldline Research Preferred Provider certification for excellence among debt relief companies.
Based in San Mateo, Calif., FFN also operates an office in Tempe, Ariz. The company, with more than 550 employees, was voted one of the best places to work in the San Francisco Bay area in 2008, 2009 and 2012, and in the Phoenix area in 2008, 2009 and 2010. FFN’s founders received the Northern California Ernst & Young Entrepreneur of the Year Award in 2008.