San Mateo, CA (PRWEB) October 08, 2013
Freedom Financial Network (FFN), the largest negotiator of consumer debt in the nation, reports results for the third quarter of the year that includes resolution of $155.3 million of debt for clients.
The company negotiated the third-quarter resolutions on 26,804 individual creditor accounts while assisting 20,344 clients. FFN’s results equate to negotiating $1.69 million of debt each day throughout the quarter, or more than $70,335 each hour.
The quarter’s results herald the three-year anniversary of the Federal Trade Commission (FTC)’s rules regulating the debt relief industry. The rules include the Advance Fee Ban, which requires debt relief companies to renegotiate, settle or reduce the terms of a consumer’s debt, with his/her agreement, before collecting fees. In addition, debt settlement companies must disclose how long it should take to see results, program costs and any negative consequences that may result.
“Over the past three years, many debt relief firms have decided to exit the business rather than comply with the FTC rules,” said Andrew Housser, co-founder and CEO of FFN. “Those that remain are the strongest and most committed to obtaining results for their clients. FFN results confirm the company’s industry leadership position by consistently helping clients get out of debt while fully adhering to the Federal Trade Commission Advance Fee Ban.”
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 resolve their unsecured debt, often in 24 to 48 months.
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 $2 billion in debt for more than 150,000 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 nearly 600 employees, was voted one of the best places to work in the San Francisco Bay area in 2008, 2009, 2012 and 2013, and in the Phoenix area in 2008, 2009, 2010 and 2012. FFN’s founders received the Northern California Ernst & Young Entrepreneur of the Year Award in 2008.