Freedom Debt Relief Awards Savings Bond to Billion-Dollar Record Client
March 12, 2011 (PRLEAP.COM) Business NewsFreedom Debt Relief (FDR) is celebrating its landmark billion-dollar debt negotiation milestone by awarding a $5,000 savings bond to the individual whose settled debt hit the mark for the company.
When FDR resolved the debt of a client* from Redwood City, Calif., in December, the company officially became the first company in the nation to attain $1 billion in resolved debt. "The debt we resolved for this client was his final debt, so hitting this milestone with him is especially gratifying," said Andrew Housser, CEO of FDR. "The savings bond award is just one additional, small way we can further help a client who is working his way out of serious debt and toward achieving financial freedom."
The award falls in line with FDR's philosophy of working with its clients not only to resolve current debts, but also to learn and adopt sound personal finance habits leading to debt-free lifestyles. For every client, the company offers individualized personal finance counsel at no additional charge, and works with each person to create and use a simple budget. "FDR is serious about its commitment to help each client who turns to us for debt relief get out – and stay out – of debt," explained Housser.
Freedom Debt Relief leverage, support
The savings bond recipient turned to FDR after accumulating medical and credit card debt he could not pay off himself. "With little success at negotiating with creditors on my own, it didn't take me long to realize I needed to work with a company that had more leverage than I did," he says.
With FDR's team of negotiators "on his side," he states that he was able to resolve his debt in less than 18 months. The software engineer considers his savings bond a big bonus. "To receive this savings bond so soon after completing my debt program is like getting a cherry on top of a sundae," he says. "The money makes a sizable addition to my re-started savings."
$1 billion in resolved debt
Working with nearly 100,000 clients since 2002, FDR reached $1 billion in face value of debt resolved by negotiating settlements on 188,000 individual creditor accounts. "The results indicate that our debt counselors' efforts to help consumers find the best program for their individual situations are working exceptionally well," said Housser. FDR is currently resolving approximately $40 million in debt each month, and expects to resolve an additional $500 million in debt for its clients in 2011.