Freedom Review

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Freedom

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Freedom Reviews

WRITTEN BY

Lauren Le-Hair

Resource for people struggling with debt

About Freedom

Achieve came to life in September 2022 after the rebranding of the Freedom Financial Network. Freedom was established in 2002 by serial entrepreneur Andrew Housser. The company provides debt consultancy and advocacy services, specializing in debt consolidation and resolution.

Achieve also offers bankruptcy advice, credit counseling, personal loans, and mortgage/HELOC loans. The Achieve network of companies includes Freedom Debt Relief and Bills.com, with the group now employing over 2,600 people from its bases in California and Arizona.

8.0

LS SCORE

8.0

CREDIBILITY

8.0

SUPPORT

8.0

ACCESSIBILITY

Debt Relief
Mortgages

Debt Relief
Mortgages

Freedom Debt Relief Review

Debt Relief is one of the services offered to customers by Achieve. They can help you manage your debt into a position where you are making one monthly payment against all debt with a view to eliminating your debt within 24-48 months.

Freedom Debt Relief Highlights

MIN CREDIT SCORE

None

ORIGINATION FEE

None

PREPAYMENT FEE

None

OTHER FEES

Yes

SOFT CREDIT PULL

Yes

LENDER TYPE

Direct

Pros & Cons

No upfront fees are payable
Cashback offered if debt resolved is lower than fees charged (100% of the difference is repaid)
The unique approach taken to every case via your personal debt expert
Long-established debt relief company with excellent credit connections

Can pay fees of up to 25% of the enrolled debt
Not available nationwide
Debt relief will negatively affect your credit score

Debt Consolidation Types

Debt relief consultation service
Debt consolidation loans

Freedom Debt Relief Terms & Requirements

To be considered for debt relief help from Achieve, you will need to be able to demonstrate the following:

Have over $7,500 of debt
All debt must be unsecured
Must live in an approved state
Must be able to show steady income
Must be able to save an amount each month to contribute towards debt resolution

During the debt resolution process, you will stop paying your creditors and save that money for a future payment. Achieve’s experts will negotiate with your creditors on your behalf for a lower settlement amount during this time. This is why your credit rating is negatively affected, as the payments you miss are flagged on your credit report.

Achieve offers a free consultation concerning credit relief. Given that the company has resolved over $15 billion of debt since 2002, we recommend contacting Achieve if you are in debt trouble as the free consultation will be able to point you in the right direction on managing your debt.

How to Apply

You can apply for debt relief with Freedom (achieve) online or via phone. We chose to start the application process online for extra convenience.

After selecting “Get a free assessment”, we were prompted to enter basic personal details, including our name, phone number, email, and date of birth.

Freedom Screen 1

How much debt do you have?

We then entered our address and SSN for verification purposes and authorized a soft credit check.

Following this, we were informed that we had passed the pre-qualification process, and we were invited to call a number to discuss our position with a debt relief expert. We called the number, spoke to someone after being on hold for a short period of time, and started the discussion process.

The debt relief expert discussed the process with us and informed us that debt relief would damage our credit profile but, if successful, could lead to us being out of debt in 2 to 4 years. The expert was helpful and guided us through the process clearly and in a manner that was easy to understand.

Overall, the application process was simple, and if you are in debt trouble that feels unmanageable, we recommend calling Achieve to discuss your position with them.

Qualification Requirements

At least $7,500 of debt
Reside in an approved state
Be able to demonstrate stable income
Have unsecured debt

Achieve’s debt relief program is only available in certain states, but its website does not notify which states are eligible for the program. As the application process is so quick, the best way to identify if you qualify for debt relief from Achieve is to apply online.

Required Information

As you proceed through the debt resolution process, you will need to provide Achieve with the following documentation:

Name
Address
Date of birth
SSN
Email address
Phone number
Employment history
Proof of monthly income
Bank statements
Housing status, including monthly housing payments
Details of all loans and credit cards

Application Steps & Time Frames

The initial application took us 3 minutes, and we were able to organize a phone call with a debt relief expert the same day to discuss our situation. If you engage with Achieve to manage debt resolution for you, you can expect to complete the program within 2 to 4 years.

State Availability

Available in all states

Freedom Mortgages Review

Achieve offers a Home Equity Line of Credit (HELOC) through their subsidiary, Achieve Loans, formerly known as Lendage. HELOC offers fixed-rate advances that use the borrower’s home equity as collateral. HELOCs are generally provided at a competitive interest rate and are an easier way to consolidate debt than mortgaging or taking out a traditional loan with a bank. They are helpful for the flexibility offered as there are fewer conditions for use than with a standard personal loan.

Freedom Mortgages Highlights

REPAYMENT TERM

10 or 15 year terms

MIN CREDIT SCORE

600

FUNDING TIME

15 days

ORIGINATION FEE

2.5% of the requested amount

PREPAYMENT FEE

None

UNDERWRITING FEE

None

OTHER FEES

Yes

SOFT CREDIT PULL

Yes

NMLS

138464

LENDER TYPE

Direct

Pros & Cons

Mortgage Type

Home Equity Line of Credit

Freedom Home equity Highlights

LOAN AMOUNT

$15,000 - $150,000

FIXED APR

10.25% - 16.00%

Pros & Cons

More straightforward to obtain that financing via mortgaging your property
Drawdown as much funding as is required, so you are not incurring interest on an unneeded amount
HELOC is a debt solution tailored to your specific needs

Requires your home to be used as collateral
Origination fees and underwriting fees are payable
APRs are pretty high, so they will only be helpful if your existing debt for consolidation is higher
The limit of $150,000 is relatively low for HELOC

Freedom Mortgages Terms & Requirements

Achieve only offer HELOC, and as such, it is a requirement that you already own a property and have a sufficient amount of equity in the property. The following are also requirements to take advantage of Achieve’s HELOC product:

Mortgage Requirements

A minimum credit score of 600 if HELOC is to be used for debt consolidation
A minimum credit score of 670 if HELOC is to be used for cashout purposes
A maximum debt-to-income ratio of 45%
Property must be owner-occupied, with a loan to value of not greater than 80% (including the proposed HELOC request)

Mortgage Terms

APRs of between 10.25% and 16% are available dependent on conditions including credit rating and loan-to-value position
An origination fee of 2.5% charged
Underwriting fee of $685 charged
Loans available for between $15,000 and $150,000

Repayment Terms

Repayment terms of 10 or 15 years are available
Repayments must be made monthly

Generally, the terms and conditions associated with the Achieve Home Equity Line of Credit are not overly competitive. The APRs offered are higher than average, and many competitors do not charge origination or underwriting fees. While other debt-relief options from Achieve are very competitive, we would recommend shopping around for better terms if you are looking for HELOC.

How to Apply

We decided to test the application process for getting HELOC from Achieve, as the company has a reputation for a straightforward, streamlined application process. After navigating to the Home Equity Loan section of the website, we were greeted with a simple opening screen to start the process.

We were then met with another simple screen to confirm that we wanted to use the financing for debt consolidation and that we were homeowners. After this, we were asked to enter our basic personal details.

Screen 1

How much do you want to borrow?

Qualification Requirements

We followed up this by giving our home address and Social Security Number. Finally, we ticked that we submitted to a soft credit check being undertaken. We then clicked “See My Offer” to complete the pre-qualification.

We were approved, and the next step was to speak with a personal advisor from Achieve Loans. They helped guide us through a more in-depth application process and advised us of all the information we would need to provide, including proof of identity and proof of income and home ownership. At this stage, a hard credit check was performed.

If your application is successful, funding will be processed and sent to you within 15-18 days on average.

The initial pre-qualification process was quick, and we got an idea of the HELOC rates available to us. The second part of the application wasn’t quite as fast, but the personal advisor was friendly and efficient, and the application process was not complicated.

Qualification Requirements

To be eligible for a HELOC from Achieve, you must meet the following requirements:

US citizen or permanent resident
A minimum credit score of 600 for debt consolidation or 670 for cash out
A minimum debt-to-income ratio of 45%
Must have steady verifiable income
Property must be owner-occupied

State Availability

Achieve does not off HELOC in all states. Unfortunately, Achieve does not say which states offer HELOC and which do not. Therefore the best way to establish which areas are eligible is to start the pre-qualification process, and you will be informed if you are in an ineligible state.

Required Information

When going through the application process, we had to provide the following documentation to Achieve:

Proof of ID
Proof of income
Proof of home ownership
Social Security Number
Email address
Employment history
Phone number

State Availability

Available in all states

Privacy & Security

Achieve is BBB-accredited with an A rating and 4.78 out of 5 stars. Under the Achieve banner, Lendage is also accredited with 4.51 out of 5 stars. Both websites use a secure encryption certificate to protect user data and transmit it safely.

Most online reviews are positive, with customers expressing satisfaction with the fast, hassle-free process. Many reviewers also indicate they successfully saved money on interest and lower monthly payments.

While Achieve does not have a history of privacy or security concerns, its predecessor Freedom Financial Network reached a settlement of $25 million in 2019. This resolution was due to a lawsuit by the Consumer Financial Protection Bureau, which accused Freedom of deceiving customers. While not admitting guilt, Freedom paid $20 million in restitution to affected customers and $5 million as a civil penalty.

Customer Support

Achieve has a well-regarded customer support team known for its quick response times. You can reach Achieve’s customer support via phone call or online form. We were interested in arranging a free consultation and called the specific helpline to discuss our situation. The call was answered quickly without being placed on hold, and we had our consultation arranged within minutes. The level of customer support we received lived up to the excellent reputation of Achieve’s customer service team.

Phone Support

(800) 220-7791

Mon-Fri

6am-5pm PST

Sat-Sun

Closed

In Conclusion

Ultimately, we believe that Achieve is worth contacting if you are experiencing financial difficulties and would like to discuss your options with someone. Freedom’s expertise in addressing all levels of debt concern, from bankruptcy to smaller debts, is excellent, as you know that your particular circumstances will find the right experts to deal with your debt issues.

FAQ

Is Achieve the same as Freedom Financial Network?

Yes, Freedom Financial Network rebranded as Achieve in September 2022.

How much debt do I need for Achieve to work with me?

It depends on the type of debt you have and the solution that you are looking for. The best option is to contact Achieve for a free consultation.

How much does Achieve charge for debt relief services?

Typical fees are between 15-25% of the amount of enrolled debt.

Freedom Disclaimer

Achieve.com, a d/b/a of Bills.com, LLC (NMLS ID #138464), operates as a marketing lead generator for affiliates and non-affiliates and as a broker for loans and debt resolution services offered by its affiliates.
We also provide specific mobile applications that allow consumers to view and analyze their finances. We may take applications for our affiliates, but we do not make credit decisions, originate loans, process consumer loans or bill payments, or provide other financial services.
We do not collect any fees or other compensation from consumers. Any financial solutions for which you may be evaluated for are offered by Service Providers with whom we are affiliated and/or compensated by those who participate on our website. Terms and conditions apply to each; not all are available in every state.

Disclosure

WRITTEN BY

Lauren Le-Hair

As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.

8.0

LS SCORE

8.0

CREDIBILITY

8.0

SUPPORT

8.0

ACCESSIBILITY

Opening Hours

Mon-Fri

6am-5pm PST

Sat-Sun

Closed

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