FREED's Debt Resolution program is a great choice for people with high levels of unsecured debt and if they are in a financial hardship due to a job loss, pay cuts, medical emergencies, etc. If you are behind on your credit card or loan payments and are struggling with your personal finances while the balance on your loans/credit cards keep growing, then our program could be right for you.

Yes, 100%. Debt settlement is absolutely legal. Currently in India, there are no consumer-friendly debt relief options for people struggling with debt. FREED was founded to solve this massive problem. Our mission is to provide debt relief solutions and services and financial literacy to debt burdened customers to enable them to reduce and eliminate debt, build wealth and achieve financial freedom. Moreover, we charge our service fee for the Debt Resolution Program only when we settle your debt, you don't pay if we don't settle, it is as simple as that!

No. FREED or for that matter anyone, cannot guarantee a certain percentage on your settlements. Every creditor and account are unique, and we cannot predict as to how the negotiations will pan out. Furthermore, the success of our negotiations is highly dependent on you keeping your end of the bargain as well, by making regular monthly payments into your Special Purpose Account. This is a teamwork and we need your full cooperation to achieve the best results for you.

You only pay FREED when the settlement for an account is completed. If FREED cannot settle a creditor's account for you, you will not be charged for it.

Your savings are deposited in a Special Purpose Account that is managed by a leading Trusteeship firm. Only you can authorise outgoing payments from this account and remain in control of these funds at all times.

A Special Purpose Account (SPA) is your savings account that can only be used to pay off your creditors. Once all your outstanding debt is settled, any amount remaining in your SPA is refunded back to you.

Yes, the Debt Resolution Program will negatively impact your credit in the short term, but your credit score starts to improve once you have completed the program and are debt-free. If you are already behind on your payments, chances are that your credit score and rating has already taken a hit and the negative effects of our program on your score may not be as substantial. Besides, very few people with debt troubles have a healthy credit score. We often ask our customers if getting out of debt is more important to them compared to a short-term negative impact on their credit, in almost all the cases, we hear that being debt-free is more important. The good news though, is that credit scores tend to improve quickly once the Debt Resolution Program has been completed. By engaging in good credit behaviour, anyone's credit score can recover over time. Moreover, as you set out on your path to rebuild your credit-worthiness, you would rather like to see "Settled" against your accounts, rather than a "Willful Default".

If you have one credit card or loan with a low balance that you are able to pay down to zero, then we recommend keeping that account for emergencies and not enrolling that account in the program. It will be tough to negotiate settlement offers with your creditors if they see that you are settling on some accounts but not on others.

Once your loan and credit card accounts become delinquent, your creditors will continue to add interest and late fees onto your balances. Typically, your balance will increase until a settlement is reached. Bear in mind that the interest is going to accrue regardless of whether you make minimum payments or not. At FREED, our goal is to negotiate significant reductions on the total amount you owe, even after the interest and late fees have been added to your balance. We account for the additional fees and the interest loading on your balance when working out the repayment estimate for you. Even if your creditor charges extra fees and interest, the fee we collect to settle the debt will not increase.

Your creditors will continue to call you to recover the debt. However, there are certain codes of conduct that the debt collectors must adhere to, and there are laws that protect you from illegal collections activity. Our Creditor Harassment Protection Program (CHPP) is a service we provide to our enrolled customers to help them deal with harassment form collection agents.