Question 1

How do I know if Debt Relief or Loan Settlement is the best option for me?

Accepted Answer

Loan relief isn’t just reducing the loan owed by you, it is about eliminating your loan and living a loan free life. If you are living paycheck to paycheck because of the loan that you owe or if you are already behind on your monthly payments, chances are that you need loan relief.

Question 2

What types of loan can FREED help me with?

Accepted Answer

Most of your unsecured debts (without collateral) can be enrolled. If the majority of your debt load consists of personal loans, credit card debts, consumer loans, payday loans, peer-to-peer loans, BNPL loans, and education loans; you can expect a good outcome from FREED's Loan Settlement Program.

Question 3

How does Debt Relief or Loan Settlement affect my Credit?

Accepted Answer

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.

Question 4

How much does Loan Settlement cost?

Accepted Answer

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.

Question 5

How much will I save with FREED's Loan Settlement Plan?

Accepted Answer

At FREED, our goal is to negotiate significant reductions on the total amount you owe, even after interest and fees. Most clients save significantly on their enrolled debts upon completing the program.

Question 6

What is FREED's Debt Consolidation Program?

Accepted Answer

FREED's Debt Consolidation Program is a preventative measure for customers, who are over-leveraged with debt. Living paycheck to paycheck by making minimum payments on your debt means you're one unforeseen expense away from being in a debt trap and delinquency. Our Debt Consolidation Program helps relieve your financial burden by reducing your EMI through lower interest rates or longer tenure. Upon enrolling in the FREED Debt Consolidation Program, all your current creditors are paid off using a new consolidated loan offered by our Lending Partners. Your existing multiple monthly payments at varying interest rates will be replaced by a single reduced monthly EMI on your new consolidated loan.

Question 7

What is a Debt Consolidation loan?

Accepted Answer

FREED's Debt Consolidation Program allows customers to apply for a loan that is used towards paying off their current outstanding personal loan, credit card and any other unsecured credit balances. This new consolidated loan allows you to convert multiple monthly payments into a single reduced monthly EMI with a pre-decided tenure.

Question 8

What are the uses of a Debt Consolidation loan?

Accepted Answer

The Consolidation loan offered by our Lending Partners through FREED's Debt Consolidation Program, can only be used to pay off the current debt you owe. The Consolidation loan would be used to pay off all eligibile loans like personal loans, credit card debts, consumer loans, payday loans, and unsecured education loans.

Question 9

What type of debts can I consolidate with FREED's Debt Consolidation Program?

Accepted Answer

Most of your unsecured debts (without collateral) can be consolidated under FREED's Debt Consolidation Program. If the majority of your debt load consists of personal loans, credit card debts, consumer loans, payday loans, peer-to-peer loans, BNPL loans, and education loans; you can expect a good result from the Debt Consolidation Program.

Question 10

Can debt consolidation save me money?

Accepted Answer

FREED's Debt Consolidation Program is designed to offer you a monthly reduction of 10-30%* on your loan obligation or EMI on the eligible accounts.

Question 11

Why should I get a Debt Consolidation loan to pay off my credit cards?

Accepted Answer

Credit cards can carry an APR (effective interest rate) of up to 48%. When you make the minimum due payment on your credit card, it covers all the interest and charges on your card while covering a very small fraction of the principal. This means making minimum payments is neither the quickest nor the cheapest way to becoming debt free. FREED's Debt Consolidation Program can lower the EMIs on your personal loans by either reducing the APR or by extending the tenure so give you monthly relief on your debt obligations.

Question 12

Can I keep using my credit cards while enrolled in the Debt Consolidation Program?

Accepted Answer

We recommend that you don't take on additional credit after enrolling into FREED's Debt Consolidation Program. The purpose of the Program is to help you eliminate debt and the monthly savings that you realize from the Program should be utilized for building your financial future.

Question 13

How will Debt Consolidation affect my credit score?

Accepted Answer

No, it may actually improve your score due to the instant repayment of your unsecured loan accounts.

Question 14

Can I get a Debt Consolidation loan with a low credit score?

Accepted Answer

In case you have a low credit score you may not qualify for FREED's Debt Consolidation Program. A low or falling credit score might be the result of missing a few monthly payments. If your debt has grown past your capability to make monthly payments, the right Debt Relief Program for you might be FREED's Debt Resolution Program.

Question 15

How long does it take to get approved for a Debt Consolidation loan?

Accepted Answer

Usually, the pre-approval can happen immediately while the actual approval may take up to 48 working hours.

Question 16

Will Debt Consolidation reduce my monthly EMI?

Accepted Answer

Yes. FREED's Debt Consolidation Program helps you reduce your monthly EMIs by either lowering your interest or increasing your repayment tenure.

Question 17

What is FREED Shield?

Accepted Answer

FREED Shield is a protection and support tool designed to help individuals escalate their complaints of harassment from recovery agents. It guides you on your rights, escalate harassment complaints, and supports you through your loan settlement journey.

Question 18

How does FREED Shield protect me?

Accepted Answer

With FREED Shield, you can: Upload proof of harassment (audio recordings, call logs, screenshots, videos), Flag abusive calls, threats, late-night calls, Report home or office visits, calls to relatives, or WhatsApp messages at odd hours, Submit instances of morphed or threatening images, Get guidance on what's legally allowed and what's not, Receive support on how to respond safely and escalate issues appropriately.

Question 19

What types of harassment can I report through FREED Shield?

Accepted Answer

You can upload and report: Abusive or threatening phone calls, Calls after 7 pm or before 9 am, Continuous or repeated calls, Home visits without notice, Recovery agents visiting your office, Calls made to your relatives, friends, or employer, WhatsApp or SMS messages at odd hours, Morphed images, fake documents, or intimidation tactics, Any communication that violates RBI's Fair Practices Code.

Question 20

What happens after I upload a proof of harassment?

Accepted Answer

Our team: Reviews your evidence, Validates it against RBI guidelines, Advises you on the next steps, Helps draft compliant responses if needed, Guides you on formal escalation routes if your rights are violated.

Question 21

Will FREED Shield stop recovery harassment calls?

Accepted Answer

No service can stop calls entirely. But FREED Shield ensures you know how to handle them, what's legal, and when you should escalate.

Question 22

Is FREED Shield a legal service?

Accepted Answer

No. FREED Shield does not provide legal representation. It helps you: Understand your rights, Recognize harassment, Escalate issues in a compliant, structured manner.

Question 23

Can FREED Shield help if recovery agents come to my home or office?

Accepted Answer

Yes. FREED Shield guides you on: What recovery agents are allowed to do, What violates RBI rules, How to handle the visit safely, What documentation to collect for escalation, How to upload evidence through the FREED Shield portal.

Question 24

Will my evidence be shared with my lender automatically?

Accepted Answer

No. FREED Shield only shares information with your explicit consent, and only when needed for escalations.

Question 25

Do I need to be enrolled in DRP to use FREED Shield?

Accepted Answer

No, anyone facing recovery stress can subscribe to FREED Shield. However, pairing it with a structured settlement plan strengthens your long-term outcome.

Question 26

Is uploading evidence mandatory?

Accepted Answer

Not at all. But uploading proof helps us give more accurate guidance and take stronger escalation steps if required.

Question 27

What formats can I upload?

Accepted Answer

You can upload: Audio recordings, Screenshots, PDFs, Images, Videos, Call logs, WhatsApp chat exports.

Question 28

How quickly will FREED Shield respond after I submit a complaint?

Accepted Answer

We respond within business hours, and harassment-related cases are treated as priority.

Question 29

Will reporting harassment affect my credit score?

Accepted Answer

No. Reporting harassment has no impact on your credit score.

Question 30

How do I sign up?

Accepted Answer

You can subscribe via the FREED website or app. Once enrolled, you will get access to the FREED Shield dashboard where you can upload proofs and raise concerns anytime.

Question 31

What is the difference between a credit report and a credit score?

Accepted Answer

A credit report includes detailed information about your credit history, such as loans, credit cards, payment history, account status, and more. Your credit score (or CIBIL score) is the 3-digit number, between 300 and 900, that bureaus calculate from that report. Banks look at both.

Question 32

If I check my credit score, would it decrease?

Accepted Answer

No. Checking your own score is a soft inquiry. It has zero impact on your CIBIL score or credit score. Only bank-initiated hard inquiries, when you apply for a loan, can affect it.

Question 33

Will my credit score remain consistent across all credit bureaus?

Accepted Answer

Not always. Each bureau uses a slightly different algorithm and may hold different data. Your scores will usually be close, but small differences are normal. FREED's checker is powered by Experian.

Question 34

How often does my credit score change?

Accepted Answer

Whenever new information reaches the bureau, such as a new loan, a closed account, a missed EMI, or a credit card limit change. Banks typically report this data to bureaus once a month. So your CIBIL score can change monthly.

Question 35

Do late payments affect my credit score?

Accepted Answer

Yes, significantly. Timely payment is the single most important factor in your credit score. A payment that's 30+ days late will appear on your report and lower your CIBIL score. The longer the delay, the bigger the drop.

Question 36

What is a good CIBIL score for a personal loan in India?

Accepted Answer

Most banks and NBFCs look for a credit score of 700 or above for personal loan approval. A score of 750+ gives you access to better interest rates. Below 650, approvals become difficult.

Question 37

What happens to my credit and CIBIL score if I settle a loan?

Accepted Answer

Loan settlement marks your account as "Settled" on your credit report; this status stays for up to 7 years. Your CIBIL score will drop after the settlement. Settlement is a last option for borrowers who genuinely cannot repay, not a financial strategy.

Question 38

What is an EMI Score?

Accepted Answer

An EMI Score measures your monthly installment affordability and debt-to-income ratio to evaluate how comfortably you can handle current or new loan EMIs.

Question 39

How is the EMI Score calculated?

Accepted Answer

It considers your total monthly income, existing loan obligations, credit card balances, and repayment history to generate an affordability index.

Question 40

Does checking my EMI Score affect my CIBIL score?

Accepted Answer

No. Checking your EMI Score on FREED is a soft calculation that has zero impact on your official credit score.

Question 41

How can I improve my EMI Score?

Accepted Answer

You can improve your score by reducing overall unsecured debt, clearing high-interest credit card dues, or consolidating existing loans into a single lower EMI.

Your questions
deserve
clear answers.

75,000+

₹450 Cr+

4.8/5

32,645+

75,000+

₹450 Cr+

4.8/5

Loan Settlement

Make smarter financial decisions.

Make smarter
financial decisions

Your questions deserve clear answers.

75,000+

₹450 Cr+

4.8/5

32,645+

75,000+

₹450 Cr+

4.8/5

Loan Settlement

How do I know if Debt Relief or Loan Settlement is the best option for me?

What types of loan can FREED help me with?

How does Debt Relief or Loan Settlement affect my Credit?

How much does Loan Settlement cost?

How much will I save with FREED's Loan Settlement Plan?

What types of loan can FREED help me with?

How does Debt Relief or Loan Settlement affect my Credit?

How much does Loan Settlement cost?

What types of loan can FREED help me with?

How does Debt Relief or Loan Settlement affect my Credit?

Make smarter financial decisions.

Make smarterfinancial decisions

Your questions
deserve
clear answers.

Make smarter
financial decisions