![]() 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. This settlement is subject to approval by the court.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. The Bureau will remit $493,500 of the $5 million civil penalty it assessed in light of the penalty that the company was ordered to pay the FDIC. ![]() ![]() ![]() ![]() The company has also agreed to a consent order with the Federal Deposit Insurance Corp (FDIC). Today’s settlement enjoins Freedom Debt Relief from engaging in this conduct in the future. The Bureau also alleged that Freedom Debt Relief violated the Consumer Financial Protection Act of 2010 by charging consumers without settling their debts as promised, charging consumers after having them negotiate their own settlements with creditors, and misleading consumers about the company’s fees and its ability to negotiate directly with all of a consumer’s creditors. The Bureau’s lawsuit alleged that Freedom Debt Relief violated the Telemarketing Sales Rule by charging advance fees and failing to inform consumers of their rights to funds they deposited with the company. ![]()
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