FREEDOM PLUS PLUS
FREEDOM PLUS FREE

Lenders may decide to sell the legal rights to collect on your unpaid debts.

Resolving your Freedom loan with a debt buyer You will be able to plan for your settlement much better after our call. I can dig into your total strategy with you during the phone consult. And it is super important (downright critical for some of us) to prioritize which creditors and debt collectors we resolve a debt with first, second, third, etc.

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I do find that most people I have helped resolve Freedom Plus loans have had multiple other unsecured accounts they needed to settle. You can also click the schedule with Michael box below (or the get help tab at the top), and I can review your settlement strategy with you on the phone. You can post the information anonymously in the comments below and I can post my feedback to you here. I can help you best determine what your Freedom Plus loan may settle for when I know all of these details. Freedom Financial could send your unpaid Plus loan to a debt collector, just like most lenders do.Īs with virtually all settlements, what you can target as a realistic outcome is often a combination of who the original creditor is, who the collection company at the time of negotiations may be, how high a collection target you appear to be, and the resources you have available to pay your settlement. The majority of unsecured debts that go unpaid will eventually get sent out to third party collection companies. Settling your Freedom Plus loan with a debt collector There is some irony to settling your loan with Freedom Financial for less because they were first the debt settlement company Freedom Debt Relief (still are), before they got into the lending business.Īt the time of this article, we tend to see better settlement outcomes by negotiating either with Freedom internally, or more recently the collection company your Freedom Plus loan may be sent or sold to. If your financial situation has deteriorated to a place where you simply cannot make your Freedom loan payments anymore, and certainly if you are already late a few months, negotiating a settlement with Freedom Plus to pay less than what you owe will often be on the table.

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That said, if you have a lot of money going out to credit cards each month, and those are at higher interest rates, you may be able to get those on a lower monthly payment plan, which may free up cash that allows you to keep up on your Freedom Financial loan. For this reason, if your monthly cash flow is impaired to the point that you will need a more permanent lower payment solution in order to confidently deal with your Freedom Plus loan, I would then look to settling the loan balance for less than the amount owed, or look into your qualifications for filing bankruptcy. Unlike credit card debts, longer term monthly payment reduction is typically not an option on fixed loans Freedom Financial makes. Talking to your lender over the phone may result in their being able to offer some short term payment flexibility once they understand more about your situation. If you are not yet late with your Freedom Plus loan payments, or barely behind (only missed one or two payments so far), and especially if you are only experiencing a temporary monthly cash flow set back, call Freedom Financial. Lowering your monthly payments working directly through Freedom Financial I will outline all 3 options below, and with a focus on settling with Freedom for less because payment plans and bankruptcy are more straight forward than negotiating settlements. These consist of lowering your monthly payment through different programs, settling your Freedom Financial loan for less, or hitting the financial reset button using bankruptcy. I tend to focus on 3 mainstream options when working with someone who can no longer cover their monthly payments on unsecured debts. If you have reached the point where your Freedom Plus loan is no longer affordable, you do have a few debt relief solutions to consider.

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