| 1st Freedom Debt Solution Review |
 This debt settlement company has a happy-looking website that has scant information on it about what they do for you from a debt settlement standpoint. Yes, they have the standard page that tells what their services are, but it appears to be the same re-hashed information from other companies’ websites. Quick facts about 1st Freedom Debt Solution: Founded in: 2007 Years in Business: 2 Number of employees: Not disclosed BBB Rating: None – not listed BBB complaints: None Free Information: Via their website and toll-free number. Escrow or Payment Plan Available: They call these a “Special Purpose Account” but fail to give information on who owns the account and who has access to the funds in them. Source of Funds: Monthly payments into the Special Purpose Account. Fee Structure: 16% of the total indebtedness that is entered into the program. There is also an application fee of $99. Avg Settlement: Not disclosed, but they do have a “Past Settlements” page that purportedly shows debt amounts and how much they have been settled for. This could be made up information, however. Refund Policy: This company does not say anything about a refund, however, they do have a money-back guarantee once your case is accepted. About the Company 
1st Freedom Debt Solution is located in Irvine, California. There is some controversy over how long they have been in business. Dunn & Bradstreet says 2007, but they are not listed with the Better Business Bureau and that usually indicates a business age of less than one year. For some people that is a red flag. Beginning the Process Call their toll-free number or fill out the website form. Types of Debt Serviced Unsecured only. Worth Noting The money-back guarantee is worth taking a look at. There are probably details to this that give them an “out” if you do not do certain things, so it is incumbent on you to read the fine print on any agreement before you sign. Program Caution and Your Responsibilities The standard cautionary statements apply - read your agreement before signing and make sure you understand what your role and responsibilities are in the program. Will Debt Collectors Still Call? They send Cease and Desist letters once you sign your agreement and are in the program but they do not make any promises that the calls will stop. In fact, they provide scripts to use in order to help know what to say should creditors continue to contact you. Related Articles: |
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