Sep 9, 2023 · For-profit debt relief/settlement generally aren't recommended. Instead, non-profit credit counselors (try https://nfcc.org) can work with creditors to help set you up on a plan similar to what you'd pay with debt relief, minus your credit tanking, collectors calling, and creditors suing.

Dec 10, 2015 · In June 2024, the Federal Trade Commission announced that it took action to stop Prosperity Benefit Services, a student loan debt relief scheme that the agency says bilked more than $20.3 million from consumers seeking debt relief by pretending to be affiliated with the Department of Education.

Another option would be a Debt Management Plan, not to be confused with debt settlement programs or debt relief programs. Debt Management Plans are administered by non-profit NFCC affiliated Credit Counseling Organizations. They work basically the same as hardship programs but they contact your creditors for you.

Dec 22, 2022 · The debt relief program was able to negotiate with all my credit card companies except Khols and Target. I paid Khols off and left Target unpaid for 2 years. Target was the only one that had a lawyer serve me paperwork.

May 15, 2021 · I’ve looked at Helbing Law Group, Better Path Financial and Freedom Debt Relief. The first two were exactly the same procedure: they guarantee they can reduce the amount to 40%, but they charge a 25% fee on top. I stop making payments, go to collections and pay them to settle. I am assuming Freedom will be the same deal.

Sep 26, 2022 · Then periodically based on the money you paid in, they will contact each of the places where your unsecured debt ended up and settle your debts. They will likely give you an agreed amount that you are paying them that is 50 cents on the dollar, and then they will negotiate a settlement of the debt for 5-25 cents on the dollar and pocket the ...

To consolidate our debt, my wife has looked into Freedom Debt Relief, a debt relief program. I'm just wondering - does anyone have any experience with a debt relief program? I know it impacts credit due to missed payments, a tactic the debt relief program uses to gain the leverage needed to settle with your creditors.

Nov 30, 2022 · Making phony debt relief promises: In marketing their services, the scheme’s operators claimed to use several bogus methods to reduce or eliminate consumers’ credit card debt. For example, they falsely claimed that consumers may qualify for a federal debt relief program or that a consumer doesn’t owe the debt because it hasn’t been ...

Oct 27, 2010 · When people are struggling to pay their credit card bills, some turn to companies offering what are advertised as debt relief services. The Federal Trade Commission (FTC), the nation’s consumer protection agency, amended the Telemarketing Sales Rule (TSR) to add specific provisions to curb deceptive and abusive practices associated with debt relief services. When the Rule was announced, the ...

Jan 21, 2025 · The FTC is now using the money from the settlement to provide refunds to customers. The settlement also banned the defendants from debt relief services and telemarketing sales in the future. If you get a check, please cash it within 90 days. You can find answers to common questions about FTC refund payments on our FAQ page. If you have any ...