Freedom Financial Network has proven that there are professional and credible ways to help people get out of debt. The pace of the company’s growth acceleration – in each of its businesses – is a direct reflection of the ability to achieve real results.
San Mateo, Calif. (PRWEB)
May 10, 2017
Freedom Financial Network(FFN) – an innovative financial services company that helps consumers overcome debt, build wealth and improve financial health – has hit records in two of its consumer businesses.
The company’s Freedom Debt Relief (FDR) business has surpassed the $ 6 billion mark in total consumer debt resolved. Freedom Financial Asset Management (FFAM) activity exceeded $ 1 billion in consumer loans issued.
Growth in debt negotiations
The FDR milestone comes just over six months after the company hit the $ 5 billion mark and on the heels of a record high in 2016. Freedom Debt Relief, one of three Freedom Financial Network companies , ended 2016 with more than $ 1.5 billion in debt that it negotiated for clients during the calendar year. An increase of over 40% from the previous year, the 2016 results were equivalent to negotiating $ 4.2 million in debt every day throughout the year, or $ 174,558 per hour.
In 2016, Freedom Debt Relief negotiated resolutions on 301,403 individual creditors accounts, an increase of almost 46% over 2015. The company negotiated resolutions on behalf of 110,003 clients, an increase of 39% compared to the previous year.
For the fourth quarter of 2016, the company traded $ 433.7 million on 84,336 individual creditors accounts. These figures represent increases of 12.2 and 9.1 percent, respectively, from the previous quarter. Freedom Debt Relief negotiated settlements for 51,012 customers in the fourth quarter, up 7.3%.
FFN is the first in its industry to settle $ 6 billion in consumer debt. Andrew Housser, co-founder and CEO of FFN, points out that FFN has achieved its success by leading the industry by becoming one of the first companies to comply with Federal Trade Commission rules regulating the debt relief industry which came into effect in 2010. The regulations aim to help consumers make sure they are working with a legitimate and reliable debt relief company and include a mandate that no debt relief company charges any debt. fees until she resolves the debts of her clients.
Growth in personal loans
Freedom Financial Asset Management offers personal loans to help consumers consolidate debt, reduce interest rates, and convert revolving debt into fixed-amortization installment loans. Using a combination of process, technology, analysis and human interaction, FFAM provides long-term risk-adjusted returns for investors in consumer loans. “To put it simply, we think talking to people is precious,” says Joe Toms, president of FFAM. “In doing so, we uncover information that is not available in a credit report or data model.”
According to Toms, commitment to human interaction and a steady growth approach are key factors for FFAM. “Although the market has seen significant upheaval in the previously hot-heated non-bank and peer-to-peer lending space over the past 12 months, FFAM has delivered exceptional results for consumers and investors.”
“The growth of the consumer loan industry demonstrates continued innovation and expansion beyond the core debt services offered by FFN,” said Housser. “Freedom Financial Network has proven that there are professional and credible ways to help people no longer have debts. The pace of the company’s growth acceleration – in each of its businesses – is a direct reflection of the ability to deliver real results for customers, day after day, quarter after quarter, year after year.
Freedom Financial Network (http://www.freedomfinancialnetwork.com)
Freedom Financial Network, LLC (FFN), is a family of companies providing innovative solutions that empower people to lead healthier financial lives. For those struggling with debt, Freedom Debt Relief offers a personalized program to dramatically reduce and resolve what they owe faster than they could on their own. FreedomPlus tailors personal loans to each borrower with a level of customer service unmatched in the industry. Bills.com helps homeowners better understand their loan options and make smarter mortgage decisions.
Based in San Mateo, California, FFN also operates an office in Tempe, Arizona, and employs more than 1,600 people. The company has been voted one of the best places to work in the San Francisco Bay Area and Phoenix area for several years. In 2016, FFN was ranked # 1 in the Extra-Large category of the Phoenix Business Journal’s Best Places to Work awards.
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