The company claims to have negotiated and settled the debts of over 300,000 consumers.īy engaging in telemarketing contacts with its prospective customers, Freedom identifies a customer's creditors, what the debtor owes, and the type of debt. Andrew Housser is the co-founder and co-CEO of freedom. This lawsuit was filed to prevent the company from deceiving other potential clients and to ensure they’re duly compensated when cheated.įreedom Debt Relief is a subsidiary of the Freedom Financial Network. He further explained that “Freedom methodologically created a false impression about its influence with creditors, and that it claims it can negotiate with even creditors that it knows do not negotiate with debt-settlement companies.” In the end, some customers that have already made requisite debt-settlement payments still had to negotiate on their own. The Consumer Financial Protection Bureau aimed for compensation on behalf of their harmed customers, civil penalties, and an injunction mandating Freedom and Housser from continuing their unlawful practices.Īccording to CFPB Director Richard Cordray, “Freedom cunningly benefited from indebted consumers that approached the company for help in exiting their predicament.“ They also failed to inform consumers of their right to a refund. Thereby misleading consumers about its reach of services and fees. However, Freedom reneged on this promise, making their customers negotiate their payments themselves without refunding the payment collected. It is alleged that Freedom requested payments from consumers to help negotiate their debt payments. The Consumer Financial Protection Bureau on the 8th of November 2017 filed a legal case against the country’s most popular debt-settlement provider and one of its executives for deceiving a number of consumers. Let’s do a careful consideration of the lawsuit: Detailed Exposé of the Freedom Debt Relief Lawsuit The company launched in 2003, and according to its website, they’ve helped to solve over $6 Billion worth of debt crises. It has its offices in San Mateo, California and Arizona. In November 2017, Reuters reported that the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Freedom Debt Relief, and Executive Andrew Housser, the company’sįreedom Debt Relief is one of the US's most prominent debt relief companies. Compare costs and pros and cons of alternatives such as bankruptcy, debt management (credit counseling and debt payoff planning)įreedom Debt Relief Lawsuit 2017: CFPB sues Freedom Debt Relief for misleading Consumers.You can compare the all-in costs of other debt relief companies.Compare reviews of other debt relief companies. We built the following free resource to help you understand all of your options, so you can compare those options to Freedom Debt Relief You may want to holistically compare all of your options and the potential fees and companies that offer those options. Debt Relief Company's Reviews and Feesĭebt relief via debt settlement can be a helpful option, but it is not the ONLY option. Let's look at Freedom Debt Relief lawsuits that have been filed that can help you make the most informed decision. However, there are certain things that can help you make the decision. When you’re always bombarded with calls about your debt, opting for a debt settlement company seems like the best option available. Are you wondering whether Freedom Debt Relief lies? Or, is Freedom Debt Relief a scam? Let's cover the basics of the 2 lawsuits below. You may be researching whether to pursue debt relief and are wondering whether Freedom Debt Relief has been involved with a lawsuit in 2020 or 2021.
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