Freedom Debt Relief has been ranked as one of the most prominent debt settlement firms in the United States. The Consumer Financial Protection Bureau filed a lawsuit against the company. Freedom Debt, the agency alleges, has engaged in deceptive or unethical acts that have damaged consumers. The CFPB seeks monetary relief for Freedom Debt and civil penalties for the company.
The CFPB claims Freedom Debt Relief did nothing to warn customers about their right not to withdraw from the program and claim a refund. Additionally, it says that the company misled customers about the savings they would achieve from their debts. It claims that the company failed to notify customers that their money was being held in an account that was theirs.
According to the CFPB, Freedom Debt Relief violated several consumer protection laws including the Telemarketing Sales Rule and the Consumer Financial Protection Act. The company is also accused of engaging in high-pressure selling tactics and fraudulent activities. The CFPB is seeking monetary and injunctive relief.
The New York State Attorney General's Office has also sued Freedom Debt Relief. They claim that Freedom failed to notify clients of their rights and that it caused harm to many customers. Freedom was also accused by making false statements about the company’s ability to negotiate terms with creditors.
Freedom is not transparent regarding the billing or payment process. Freedom did not have access or control over the consumer's accounts. Once the customer has enrolled in the program, they can negotiate with their creditors for a reduction of the debt. But, when the creditor refuses to negotiate, Freedom collects the full fee. And this does not always happen.
One complaint against Freedom Debt Relief is that it charged upfront fees to the client even if the debt was not settled. It claimed that it wasn't allowed to charge customers until the debt was paid. Many clients who had enrolled in the program lost the money that they had saved. Some fraud could have been prevented if the company had advised clients that they could withdraw from this program and be reimbursed.
Freedom Debt Relief's other problem is their different ownership. Andrew Housser, the company's co-founder and co-CEO, continues to oversee the company's operations, which includes approving its policies. He knew that Freedom did not negotiate with some creditors. According to reports, he could have known Freedom took payments from consumers without negotiating with the creditor.
Freedom's deceptive or unethical business practices should not be ignored, regardless of the legal reason. To learn about your rights and options, anyone who has experienced similar problems with Freedom should consult an attorney. A lawyer can help you develop a strategy and gather evidence that will help you succeed in your case.
FAQ
Why is personal financing important?
If you want to be successful, personal financial management is a must-have skill. Our world is characterized by tight budgets and difficult decisions about how to spend it.
Why do we delay saving money? What is the best thing to do with our time and energy?
Both yes and no. Yes, because most people feel guilty when they save money. No, because the more money you earn, the more opportunities you have to invest.
As long as you keep yourself focused on the bigger picture, you'll always be able to justify spending your money wisely.
Controlling your emotions is key to financial success. If you are focusing on the negative aspects of your life, you will not have positive thoughts that can support you.
Also, you may have unrealistic expectations about the amount of money that you will eventually accumulate. This is because you haven't learned how to manage your finances properly.
Once you have mastered these skills you will be ready for the next step, learning how budgeting works.
Budgeting is the act or practice of setting aside money each month to pay for future expenses. Planning will save you money and help you pay for your bills.
Once you have mastered the art of allocating your resources efficiently, you can look forward towards a brighter financial tomorrow.
What is the difference in passive income and active income?
Passive income refers to making money while not working. Active income is earned through hard work and effort.
You create value for another person and earn active income. It is when someone buys a product or service you have created. You could sell products online, write an ebook, create a website or advertise your business.
Passive income is great because it allows you to focus on more important things while still making money. Most people aren’t keen to work for themselves. They choose to make passive income and invest their time and energy.
The problem is that passive income doesn't last forever. You might run out of money if you don't generate passive income in the right time.
If you spend too long trying to make passive income, you run the risk that your efforts will burn out. It's better to get started now than later. You'll miss out on the best opportunities to maximize your earning potential if you wait to build passive income.
There are three types of passive income streams:
-
There are several options available for business owners: you can start a company, buy a franchise and become a freelancer. Or rent out your property.
-
These include stocks and bonds and mutual funds. ETFs are also investments.
-
Real estate - This includes buying and flipping homes, renting properties, and investing in commercial real property.
What are the top side hustles that will make you money in 2022
The best way today to make money is to create value in the lives of others. You will make money if you do this well.
Even though you may not realise it right now, you have been creating value since the beginning. As a baby, your mother gave you life. The best place to live was the one you created when you learned to walk.
Giving value to your friends and family will help you make more. You'll actually get more if you give more.
Without even realizing it, value creation is a powerful force everyone uses every day. You create value every day, whether you are cooking for your family, driving your children to school, emptying the trash or just paying the bills.
In actuality, Earth is home to nearly 7 billion people right now. Each person creates an incredible amount of value every day. Even if you create only $1 per hour of value, you would be creating $7,000,000 a year.
That means that if you could find ten ways to add $100 to someone's life per week, you'd earn an extra $700,000 a year. This is a lot more than what you earn working full-time.
Now let's pretend you wanted that to be doubled. Let's imagine you could find 20 ways of adding $200 per month to someone's lives. Not only would you make an additional $14.4million dollars per year, but you'd also become extremely wealthy.
Every day offers millions of opportunities to add value. This includes selling products, services, ideas, and information.
Although we tend to spend a lot of time focusing on our careers and income streams, they are just tools that allow us to achieve our goals. Ultimately, the real goal is to help others achieve theirs.
Create value to make it easier for yourself and others. Start by downloading my free guide, How to Create Value and Get Paid for It.
What is personal financial planning?
Personal finance is the art of managing your own finances to help you achieve your financial goals. This includes understanding where your money is going and knowing how much you can afford. It also involves balancing what you want against what your needs are.
Learning these skills will make you financially independent. You won't need to rely on anyone else for your needs. You can forget about worrying about rent, utilities, or any other monthly bills.
You can't only learn how to manage money, it will help you achieve your goals. It makes you happier overall. If you are happy with your finances, you will be less stressed and more likely to get promoted quickly.
What does personal finance matter to you? Everyone does! Personal finance is the most popular topic on the Internet. Google Trends indicates that search terms for "personal finance” have seen a 1,600% increase in searches between 2004-2014.
People now use smartphones to track their money, compare prices and create wealth. You can read blogs such as this one, view videos on YouTube about personal finances, and listen to podcasts that discuss investing.
Bankrate.com reports that Americans spend four hours a days watching TV, listening, playing music, playing video games and surfing the web, as well as talking with their friends. This leaves just two hours per day for all other important activities.
If you are able to master personal finance, you will be able make the most of it.
What is the easiest way to make passive income?
There are many online ways to make money. Many of these methods require more work and time than you might be able to spare. How can you make extra cash easily?
Find something that you are passionate about, whether it's writing, design, selling, marketing, or blogging. It is possible to make money from your passion.
For example, let's say you enjoy creating blog posts. Make a blog and share information on subjects that are relevant to your niche. Then, when readers click on links within those articles, sign them up for emails or follow you on social media sites.
This is called affiliate marketing. You can find plenty of resources online to help you start. Here are some examples of 101 affiliate marketing tools, tips & resources.
You might also think about starting a blog to earn passive income. It's important to choose a topic you are passionate about. However, once you've established your site, you can monetize it by offering courses, ebooks, videos, and more.
While there are many options for making money online, the most effective ones are the easiest. If you really want to make money online, focus on building websites or blogs that provide useful information.
Once you've created your website promote it through social media like Facebook, Twitter LinkedIn, Pinterest Instagram, YouTube, and many other sites. This is known as content marketing and it's a great way to drive traffic back to your site.
How can a beginner earn passive income?
Learn the basics and how to create value yourself. Then, find ways to make money with that value.
You might have some ideas. If you do, great! If not, you should start to think about how you could add value to others and what you could do to make those thoughts a reality.
Find a job that suits your skills and interests to make money online.
If you are passionate about creating apps and websites, you can find many opportunities to generate revenue while you're sleeping.
But if you're more interested in writing, you might enjoy reviewing products. Or if you're creative, you might consider designing logos or artwork for clients.
No matter what you choose to concentrate on, it is important that you pick something you love. If you enjoy it, you will stick with the decision for the long-term.
Once you've identified a product/service which you would enjoy helping others to buy, you will need to determine how to monetize that product or service.
There are two main approaches to this. The first is to charge a flat-rate for your services (like freelancers) and the second is per project (like agencies).
Either way, once you have established your rates, it's time to market them. This includes sharing your rates on social media and emailing your subscribers, as well as posting flyers and other promotional materials.
These three tips can help increase your chances to succeed when you promote your company:
-
e professional - always act like a professional when doing anything related to marketing. It is impossible to predict who might be reading your content.
-
Be knowledgeable about the topic you are discussing. No one wants to be a fake expert.
-
Avoid spamming - unless someone specifically requests information, don't email everyone in your contact list. If someone asks for a recommendation, send it directly to them.
-
Use a good email service provider. Yahoo Mail or Gmail are both free.
-
Monitor your results. Track who opens your messages, clicks on links, and signs up for your mailing lists.
-
Your ROI can be measured by measuring how many leads each campaign generates and which campaigns convert the most.
-
Get feedback. Ask friends and relatives if they would be interested and receive honest feedback.
-
To find out which strategy works best, you can test different strategies.
-
Continue to learn - keep learning so that you remain relevant as a marketer.
Statistics
- U.S. stocks could rally another 25% now that Fed no longer has ‘back against the wall' in inflation fight (marketwatch.com)
- According to a June 2022 NerdWallet survey conducted online by The Harris Poll. (nerdwallet.com)
- According to the company's website, people often earn $25 to $45 daily. (nerdwallet.com)
- As mortgage rates dip below 7%, ‘millennials should jump at a 6% mortgage like bears grabbing for honey' New homeowners and renters bear the brunt of October inflation — they're cutting back on eating out, entertainment and vacations to beat rising costs (marketwatch.com)
- Mortgage rates hit 7.08%, Freddie Mac says Most Popular (marketwatch.com)
External Links
How To
How to Make Money From Home
No matter how much money you make online, there's always room for improvement. Even the most successful entrepreneurs face challenges in growing their businesses and increasing profits.
The problem with starting a business is that it's easy for you to get stuck in a routine and not focus on your goals. You may spend more time on marketing rather than product development. Or you may neglect customer service altogether.
You should evaluate your progress regularly and assess whether you're making improvements or just maintaining the status quo. These five methods can help you increase your income.
Productivity isn’t about the output. To be productive, you must also be able accomplish your tasks. Delegate those parts to someone else.
Virtual assistants can be employed to help you manage customer support, social media management, and email management.
A team member could be assigned to create blog posts, and another person to manage your lead generation campaigns. When delegating, choose people to help you achieve your goals faster and better.
-
Focus on sales instead of marketing
Marketing doesn’t always have to mean spending a lot. Some of the greatest marketers are not paid employees. They are consultants who work for themselves and earn commissions based upon the value of their services.
Instead of advertising your products on TV, radio, and print ads, look into affiliate programs where you promote other businesses' goods and services. For sales to be generated, you don’t need to buy expensive inventory.
-
Hire An Expert To Do What You Can't
If you lack expertise in certain areas, hire freelancers to fill the gaps. A freelance designer could be hired to help you develop graphics for your site, if, for example, you don't know much about graphic design.
-
Get Paid Faster By Using Invoice Apps
When you work as a contractor, invoicing can take hours. Invoicing can be especially difficult if you have multiple clients that want different things.
But apps like Xero and FreshBooks allow you to invoice customers quickly and easily. You can enter all your client information once and send them invoices directly through the app.
-
You can sell more products with affiliate programs
Affiliate programs are great because they let you sell products without needing to stock inventory. And you don't need to worry about shipping costs either. You only need to create a link between your site and the vendor's website. When someone buys from the vendor, you will receive a commission. Affiliate programs not only help you make more money but they can also help you build your brand. If you can provide high-quality content and services, you will attract your audience.