Whois & Analysis for freedomdebtrelief.com

Freedom Debt Relief is a US debt resolution company.

It is currently based in San Mateo, California and is a wholly owned subsidiary of Freedom Financial Network, a financial service company also headquartered in San Mateo.

The company states that it has more than 600 employees.

Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.

During a negotiation period, all payments by the debtor are made to the debt settlement company, which typically withholds payments to the creditors, even if the debtor has paid a lump sum or made payments.

Once all the debtor's accounts are in default due to this non-payment, the debt settlement company has leverage to force the debtor to accept a reduced lump sum payment as settlement.

The debtor's credit rating goes down significantly due to the default, especially if the debtor was not behind on payments before the negotiation period commenced.

Even though the accounts are "settled," the default appears on the debtor's credit record for seven years.

Nevertheless, some debtors prefer this method of debt reduction over bankruptcy.

Credit card debt is an example of unsecured consumer debt, accessed through credit cards.

Debt results when a client of a credit card company purchases an item or service through the card system.

Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.

Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors.

In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

In finance, a loan is the lending of money from one individual, organization or entity to another individual, organization or entity.

A loan is a debt provided by an entity (organization or individual) to another entity at an interest rate, and evidenced by a promissory note which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment.

A loan entails the reallocation of the subject asset(s) for a period of time, between the and the .