Freedom Financial Network has proven that there are professional, credible ways to help people get out of debt. The rate of acceleration in the company’s growth – in each of its businesses – is a direct reflection on the ability to obtain real results.
San Mateo, Calif. (PRWEB) May 10, 2017
Freedom Financial Network(FFN) – an innovative financial services company that enables consumers to overcome debt, build wealth and achieve better financial health – has reached record marks in two of its consumer businesses.
The company’s Freedom Debt Relief (FDR) business has surpassed the $6 billion mark in total consumer debt resolved. The Freedom Financial Asset Management (FFAM) business has surpassed $1 billion in consumer loans issued.
Growth in debt negotiations
The FDR milestone comes just over six months after the company reached the $5 billion mark and on the heels of a record 2016. Freedom Debt Relief, one of three companies in the Freedom Financial Network, ended 2016 with more than $1.5 billion in the amount of debt it negotiated for clients during the calendar year. An increase of more than 40 percent over the previous year, the 2016 results equate to negotiating $4.2 million of debt each day throughout the year, or $174,558 per hour.
During 2016, Freedom Debt Relief negotiated resolutions on 301,403 individual creditor accounts – up nearly 46 percent over 2015. The company negotiated resolutions on behalf of 110,003 clients, an increase of 39 percent over the prior year.
For the fourth quarter of 2016, the company negotiated $433.7 million across 84,336 individual creditor accounts. Those figures represent increases of 12.2 and 9.1 percent, respectively, over the previous quarter. Freedom Debt Relief negotiated settlements for 51,012 clients in the fourth quarter, up 7.3 percent.
FFN is the first in its industry to resolve $6 billion in consumer debt. Andrew Housser, FFN co-founder and CEO, points out that FFN has achieved its success by leading the industry in becoming one of the first companies to uphold Federal Trade Commission rules regulating the debt relief industry that took effect in 2010. The regulations aim to help consumers make sure they are working with a legitimate, reliable debt relief company and include a mandate that no debt relief company charge any fees until and unless it resolves debts for its clients.
Growth in personal loans
Freedom Financial Asset Management offers personal loans to help consumers consolidate their debts, lower interest rates and convert revolving debt into fixed-amortizing installment loans. Using a combination of process, technology, analytics and human interaction, FFAM provides long-term risk-adjusted returns for investors in consumer lending. “To put it simply, we think talking to people is valuable,” says Joe Toms, president of FFAM. “By doing so, we uncover information that isn’t available in a credit file or data model.”
According to Toms, the commitment to human interaction and an approach of steady growth are key factors for FFAM. “Although the market has seen a significant shakeout in the formerly white-hot nonbank, peer-to-peer lending space over the past 12 months, FFAM has provided exceptional results for both consumers and investors.”
“The growth in the consumer lending business demonstrates continued innovation and expansion beyond the core debt services that FFN offers,” says Housser. “Freedom Financial Network has proven that there are professional, credible ways to help people get out of debt. The rate of acceleration in the company’s growth – in each of its businesses – is a direct reflection on the ability to obtain real results for clients, day after day, quarter after quarter, year after year.”
Freedom Financial Network (http://www.freedomfinancialnetwork.com)
Freedom Financial Network, LLC (FFN), is a family of companies providing innovative solutions that empower people to live healthier financial lives. For people struggling with debt, Freedom Debt Relief offers a custom program to significantly reduce and resolve what they owe more quickly than they could on their own. FreedomPlus tailors personal loans to each borrower with a level of customer service unmatched in the industry. Bills.com helps homeowners better understand their loan options and make smarter mortgage decisions.
Headquartered in San Mateo, California, FFN also operates an office in Tempe, Arizona, and employs more than 1,600 people. The company has been voted one of the best places to work in both the San Francisco Bay area and the Phoenix area for several years. In 2016, FFN ranked No. 1 in the Extra-Large category of the Phoenix Business Journal's Best Places to Work awards.