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Freedom Debt Relief offers answers, clarity for those struggling with debt

As the economy declined, Americans are feeling impact, with an average of $ 16,000 more debt per person, including those with credit profiles. Freedom Debt Relief co-founder and co-CEO Brad Stroh remembers those who are facing serious debt problems that they have choices when it comes to the aid.

"If you have trouble paying bills, receiving calls from collectors, are struggling to pay bills from a medical episode or accident, or begin to think it's best not to open the mail, you are too deep "Said Stroh, whose company is established for claims more than 50,000 customers in the last six years." It is time to reassess – and the good news is that you can get help without having to go bankrupt.

Resolution of corporate debt, such as the alleviation of debt freedom (FDR), the consumer's behalf to negotiate with creditors. They settled on a lesser amount can usually reduce the principal balance owed by the consumer – instead of interest rates – and lower total payments by 40 percent to 60 percent with a payback period of two or three years. Credit scores can be adversely affected, but the responsible use of credit after completing a program of debt repayment can rebuild credit relatively quickly.

Debt consolidation rolls multiple debts into a loan or mortgage. She may or may not make lower payments. Borrowers with a mortgage to consolidate put their homes at risk and could rise to credit card debt a few years. Those who are considering consolidation of debt must ensure they can meet the payments due. Those who intend to use a mortgage to consolidate must ensure that do not risk their homes.

Credit Counseling offers low interest rates, a repayment period of five to 10 years. Principal's total debt is not reduced. Many companies operate funded credit counseling creditor, so that management plans debt created for consumers can be more consistent with the interests creditors. In addition, credit profiles can prevent access to credit for consumers is in a program, like many lenders consider management plans of the debt, even bankruptcy.

Bankruptcy is a less viable option for most consumers today, following reforms several years ago. These changes include establishing a "means test" to determine eligibility for the protection of Chapter 7, which removes most of the consumer debt. Those whom the law considers to have sufficient income (as defined by the median household income in each state) re – ¬ pay at least part of the debt can not get the protection of Chapter 7. Presentation Chapter 13 – which re ¬ portable consumer to pay the debt in a plan payment – are still available, but typically offer less favorable terms than those found in the resolution of the debt, and the result of a significant black mark in a credit report.

Questions to ask a debt partner
People who are looking for a reliable organization help win the battle against debt Stroh seven questions may be asked to choose a reputable company:

1. Compensation: Is Get the company any form of consideration or compensation against the creditors themselves? Some firms receive funding in the form of what we call "participation equitable "payments from creditors. The payments are incentives for consumers in the plans for debt management (DMP), and could result in a conflict of interest between creditors and the interests of consumers.

2. Professional Associations: The company – a member of industry associations, or should be subject to a quality standard ascertainable by third parties for accreditation? A "yes" answer means the company is willing to practice, review and respond to consumer complaints.

3. Individualization: the company provide consultations real and provide advice and free consumer education? Or is it simply the address of the company to all consumers in a plan of debt management?

4. Free education: Company to provide educational materials, including budgeting and financial advice, for free? Many companies consider educational material of an additional source, not a benefit to their customers.

Background 5.: What is the context of the management team of the company? Look for good education and experience – not a team that jumps from opportunity to opportunity to make their fortunes.

6. History: How long has the company been in business?

7. Success: What is the abandonment of the company and the success rate? Request these statistics. Big business credit cards credit report that many consulting firms have a dropout rate reaches 90 percent.

About Financial Freedom Network (www.freedomdebtrelief.com)

Headquartered in San Mateo, Calif., Freedom Financial Network, LLC (www.freedomfinancialnetwork.com) offers resolution of consumer debt through their freedom Debt Relief and Freedom Tax Relief divisions. The company works for the consumer, negotiating with creditors to lower principal balances due, that can often result in savings of up to half the amount due.

Freedom Debt Relief (FDR), has served over 50,000 customers since 2002 and currently has 28,000 customers working with the company to solve their debt problems. In the past month, the company has resolved over 3,500 cases of clients, Account Executive more than $ 20 million. On average, Franklin Delano Roosevelt established the cases on behalf of its clients for 47 percent of the outstanding balance — a savings of 53 percent.

Company co-founders and co-CEO Andrew Housser and Brad Stroh, were named to the Silicon Valley / San Jose Business Journal "40 Under 40" list in 2008, are the recipients of Northern California 2008 Ernst & Young Entrepreneur of the Year. The company, with 475 employees, has been chosen as one of the best places to work, both in the bay of San Francisco and Phoenix, home to a satellite office.

About the Author

Mbhat_fdr has more than 5 years experience as a financial adviser at freedomdebtrelief.com, his key areas are loan consolidation, debt relief, mortgages etc.

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