Debt Reduction

Freedom Debt's "Debt Reduction Program" is customized for each client to find the optimal solution to lower your monthly payments, deal with your creditors, and reduce your debts in the shortest time possible.

Typically, we negotiate your accounts down to about 50% LESS than what you owe. For example, through our debt reduction program, if you owe $30,000 to your creditors, we may be able to save you over $15,000. Do you have questions? Contact us today, to see if you qualify and how much we may be able to save you.

An important aspect of the program is that your accounts will be SETTLED IN FULL, meaning you owe absolutely nothing on your accounts. The creditors are required to report your account satisfied with a "0" balance on your credit report, which helps your debt to income ratio and eliminating the accounts reporting as outstanding debt.  That is a very important aspect of your credit report referred to as "debt to high credit ratio" as too much outstanding debt can actually be very detrimental to your credit report.  

If being debt free in as little as 12-30 months (even faster in some cases) for less than half of what you owe sounds good, give one of our debt consultants a call, use the contact form or email us and one of our debt consultants will contact you to discuss your specific situation.

Debt Reduction Steps

The Debt Reduction Program is easy and effective. Here is a step-by-step overview:

• Step 1: Call or e-mail us for a free consultation. We will assess your financial situation and determine your potential for debt reduction.
  
  
• Step 2: We will help you to determine a comfortable monthly amount to save towards negotiated settlements. This amount is typically significantly less than your current minimum payments, and goes toward paying off your actual debt (not simply paying interest charges and fees). These funds will be saved every month in a new FDIC insured account that we set up for you, but which you have control of.
  
  
• Step 3: Once you enroll in the "Debt Reduction Program" we immediately contact your creditors and handle all future creditor communications. You must close all accounts that are being negotiated and you are requested to avoid using credit cards while in the program.
  
  
• Step 4: We begin negotiating with your creditors individually. Typically, we attempt to reduce debts by around 50% of your current balances. We stay in contact with you to keep you informed of our progress. 
  
  
• Step 5: Once a settlement is reached and payment is made to eliminate the account at the reduced amount you'll receive a "Good News" notification from us indicating the details of the settlement.
  
  
• Step 6: We request that your creditors report to the credit rating bureaus that your accounts are settled in full. Congratulations, you are now Debt-Free!