Freedom Debt Relief Resolves $123 Million in Consumer Debt During Second Quarter

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Credit advocate remains nation’s largest debt negotiator

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With these results, FDR is maintaining its position as the company that has resolved more debt than any other company in the country.

Freedom Debt Relief (FDR) resolved nearly $123 million in consumer debt during the second quarter of the year.

“With these results, FDR is maintaining its position as the company that has resolved more debt than any other company in the country,” said Andrew Housser, the company’s co-founder and CEO. “The results we obtain for our clients, as they work their way out of debt, provide clear indication of FDR’s ability.” The company achieved the second-quarter results by negotiating resolutions on 18,329 individual creditor accounts.

Several thousand of the creditor accounts that FDR resolved in the quarter were from the company’s Fresh Start program, implemented eight months ago. The program, which launched last fall in accordance with the then-new Federal Trade Commission rules regulating the debt relief industry, 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 results continue to confirm that Fresh Start is one of the most effective debt relief programs available to consumers,” 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 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.

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 nearly $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 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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