Debt Consolidation Program

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.

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.

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 eligible loans like personal loans, credit card debts and payday loans.

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, payday loans, peer-to-peer loans and BNPL loans; you can expect a good result from the Debt Consolidation Program.

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.