Freedom Debt Relief Resolves $122 Million in Consumer Debt During First Quarter

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Debt resolution company stays on track as nation’s largest debt negotiator

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The results we have attained for our clients, helping them work their way out of debt, are proof of FDR’s abilities in resolving serious debt.

Freedom Debt Relief (FDR) resolved nearly $122 million in consumer debt during the first quarter of the year.

“To date, FDR has resolved more debt than any other company in the country, and with these first-quarter results, is on track to maintain that position in the industry,” said Andrew Housser, the company’s co-founder and CEO. “The results we have attained for our clients, helping them work their way out of debt, are proof of FDR’s abilities in resolving serious debt.” The company achieved the first-quarter results by negotiating resolutions on 17,993 individual creditor accounts.

Several thousand of the creditor accounts that FDR resolved in the quarter were from the company’s Fresh Start program, implemented just six months ago. The program, which fully complies with the Federal Trade Commission rules regulating the debt relief industry that took effect last fall, ensures that consumers pay no up-front fees, and that FDR collects only the fees associated with an individual debt when it has resolved that debt.

“These early results confirm that Fresh Start will be one of the most effective debt relief programs available to consumers, and that FDR continues to be a strong market force,” says Housser.

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 programs help qualified clients resolve their unsecured debts, generally 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.

Working with nearly 100,000 clients since 2002, FDR reached the $1 billion mark in face value of debt resolved last December by negotiating resolutions on 188,000 individual creditor accounts. FDR expects to resolve close to $500 million in debt for its clients in 2011.

Freedom Debt Relief (http://www.freedomdebtrelief.com)
Freedom Debt Relief provides consumer 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 billion in debt for nearly 100,000 clients since 2002. The company is a charter member of 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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