Freedom Debt Relief Resolves Half Billion in Consumer Debt During 2011

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Credit advocate remains nation’s largest debt negotiator

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The results we obtain for our clients, as they work their way out of debt, provide clear indication of FDR’s abilities, skill and commitment.

Freedom Debt Relief (FDR) has announced its 2011 year-end results, including its resolution of nearly a half billion dollars in consumer debt during the year.

The largest negotiator of consumer debt in the nation resolved a total of $474 million on 71,574 individual creditor accounts in 2011. The results include resolving more than $100 million of debt on 16,873 individual creditor accounts for consumers under FDR’s Fresh Start program. The program, launched for all clients enrolling after Oct. 26, 2010, provides consumers with a no-advance-fee program in accordance with new Federal Trade Commission (FTC) rules regulating the debt relief industry, said Andrew Housser, CEO of FDR.

“These figures speak to the fact that FDR is maintaining its position as the industry leader,” said Housser. “The results we obtain for our clients, as they work their way out of debt, provide clear indication of FDR’s abilities, skill and commitment to adhering to the industry’s FTC regulations.”

The Fresh Start program ensures that consumers pay no upfront fees, and that FDR collects only the fees associated with an individual debt when it has resolved that debt. The program fully complies with both the spirit and the letter of the FTC advance-fee ban, explained Housser. “Many companies claiming to comply with the letter of FTC rules have sought loopholes that might allow them to continue charging fees before consumer debts are settled,” he said. “FDR clients will find no upfront fees charged under any loopholes in the regulations.”

FDR 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, FDR’s debt resolution program helps clients who qualify for, and commit, to the program resolve their unsecured debt, often in 24 to 48 months. According to Housser, debt resolution 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 Debt Relief (http://www.freedomdebtrelief.com)
Freedom Debt Relief provides consumer credit advocacy, also known as debt resolution, services. Working as an independent advocate for consumers to negotiate with creditors and lower principal balances due, the company has resolved more than $1.5 billion in debt for more than 120,000 clients since 2002. The company is an accredited member of the American Fair Credit Council (formerly The Association of Settlement Companies) and a platinum member of the International Association of Professional Debt Arbitrators. FDR holds the Goldline Research Preferred Provider certification for excellence among debt relief companies.

Freedom Debt Relief is a wholly owned subsidiary of Freedom Financial Network LLC (FFN). Based in San Mateo, Calif., FFN also operates an office in Tempe, Ariz. The company, with more than 500 employees, was voted one of the best places to work in the San Francisco Bay area in 2008 and 2009, 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.

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Aimee Bennett
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