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Review 11/20/2010
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This organization is listed with many negative reviews under names with different spellings on Trustlink (try "Freedom Financial Management, Inc."). I wish I had known of Trustlink before getting involved with Freedom Financial.
They charge a lot to do something you can easily do better yourself. Their business model is based on the consumers fear of what they don't know about how creditors work. I paid Freedom Financial $7000 to do what I could have done myself with the information in a $12 book (Mandy Akridge's Negotiate and Settle Your Debts - A Debt Settlement Strategy).
Did Freedom Financial do anything for me? I enrolled in a program with a monthly debit from my bank account to stockpile money to work out settlements later. I was completely up to date with all my cards when they encouraged me to stop paying and let them take care of the rest. It wasn't clear to me that if I had been more involved I could have better managed the drop in my credit score. You are better served if you stay in touch with your creditors yourself.
Over the course of a year Freedom Financial worked with some of my creditors. They did manage 2 settlements for me with the money I had set aside. What the companies agreed to lose, however, is taxable to me so my taxes will look as if I earned $20,000 more than I did.
When I got an offer directly from a third creditor I had to negotiate it myself because some creditors won't work with Freedom Financial; they know money is going to this company instead of to them to settle debts so you will have to deal with these creditors yourself. The process of settling this one showed me how little I was getting for my money. I tried to contact Freedom Financial to cancel in September 2010 but they were unreachable via phone, email, and US Mail. My certified letter requesting they stop taking my money was ignored so I had to take care of this through a stop payment at my bank.
Yesterday I received a notice that I was part of a class action suit against Freedom Financial. I may get some of the money paid to them back, after all.
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