*Please note that clients who are able to stay in the program and get their debts settled realize approximate savings of 50% before our fees and 35% including our fees. All claims are estimates and are based on the enrolled debts and the program tenure. Not all clients are able to complete their program for various reasons, including their ability to keep up with the program payments and save sufficient funds. Not all debts are eligible for enrollment in the Debt Resolution program. FREED doesn’t recommend enrollment in a Debt Resolution Program unless there is a genuine financial hardship experienced by a client leading to non-payment of dues.
There is no guarantee that your debts would be resolved within a specific period of time or they would be lowered by a specific amount or percentage. We do not assume your debts, make monthly payments to your creditors or provide tax, accounting or legal advice. Please read and understand all program details prior to enrollment. Enrolling in the Debt Resolution Program will have an adverse impact on your credit rating and may result in you being subjected to aggressive collection measures or even being sued by creditors. The accounts you enroll may continue to accrue fees and interest, however, negotiated settlements that we obtain on your behalf would resolve the entire account balance, including accrued fees and interest.
FAQs
FREED founder and CEO, Ritesh Srivastava was always looking for a way to leverage this rich experience to help the debt-burdened consumers in India regain their financial freedom and become debt free.
Is there really a government debt relief program? ›
There aren't any free government debt relief programs for credit card or personal loan debt other than bankruptcy. Many types of government debt relief exist in the form of grants and low-interest loans for specific purposes.
How do I clear my debts quickly in India? ›
Content
- 7 ways to pay off debt fast.
- Pay more than the minimum payment every month.
- Tackle high-interest debts with the avalanche method.
- Set up a payment plan.
- Put extra money toward paying off your debts.
- Start a side hustle.
- Limit unnecessary spending.
- Don't let your debt hit collections.
If you have to pay off loans that are tied to high interest rates, those must be settled before ones with a lower level of interest. As interest builds up with your principal debt amount, it is wise to pay off those with high interest as you save money in the longer term.
Who are the owners of FREED and FREED? ›
FREED is a luxury outerwear brand founded by Marissa Freed, dedicated to creating animal-free and cruelty-free garments with a focus on zero waste.
Who is the founder of free now? ›
FREENOW was formed in February 2019 from a joint venture between BMW and Daimler Mobility. Thomas Zimmermann is CEO of the FREENOW Group.
Is debt relief a good idea? ›
If your debt load has become unmanageable, debt relief is worth considering. Just be sure to explore your options, including any interest and fees you might incur. And once your debt is gone, create a budget and savings plan to ensure you never wind up in a similar situation again.
Who has the best debt relief program? ›
Best Debt Relief Companies for September 2024
- Best Overall for Debt Settlement, Best for Credit Card Debt, Best for Low Fees: National Debt Relief.
- Best for Tax Debt Relief: CuraDebt.
- Best for Customer Service: Accredited Debt Relief.
- Best for Customer Satisfaction and Reputation: New Era Debt Solutions.
Debt settlement cons
Debt settlement companies can charge fees. The creditor may require you to close the account, which will result in losing access to that credit line. The amount of forgiven debt may be considered taxable income by the IRS, so there may be tax implications.
How long can you legally be chased for a debt in India? ›
Limitation on Filing of Cases for Debt Recovery under the Limitation Act, 1963 or Time Limitation for Debt Recovery: It's important to note, regardless of the legal avenue pursued, the Limitation Act sets a time bar for recovering debts, typically three years from the date the debt becomes due.
A report from a notable financial services firm has revealed that India's household debt had surged to an all-time high of 40% of the gross domestic product in December 2023. The household sector's financial savings were also at a low of 5% of GDP in December 2023.
Can debt collectors come to your house in India? ›
They can come to your house but unless they show something that identifies them as high court enforcement officers you don't have to let them in or cooperate with them in any way. Also if they refuse to leave you can call the police and have them charged with trespassing.
Who owns most debt in India? ›
Which company has the highest debt?
- #1 ADANI GREEN ENERGY.
- #2 TVS MOTORS.
- #3 ADANI TRANSMISSION.
- #4 VEDANTA.
- #5 BHARTI AIRTEL.
A creditor who wishes to recover debts in India, for example a company that has unpaid debts from another legal entity, can commence a commercial lawsuit under the Commercial Courts Act. In this case, debt collection in India takes place before a competent civil court for commercial matters.
Is loan settlement legal in India? ›
– Borrowers are advised to seek legal and financial counselling before agreeing to a settlement to understand the implications fully. Consumer Protection Laws: India has several laws and regulations to protect consumers' rights in financial transactions, including loan agreements.
Who is the founder of free agent? ›
FreeAgent was launched in September 2007. The company was founded by Ed Molyneux, Olly Headey and Roan Lavery. In 2012 FreeAgent acquired the American startup 60mo, in order to expand into the US market. It topped Deloitte's list of fastest growing technology firms in 2013.
Who is the founder of free people? ›
About Free People. Back in the 1970's, a young man named Dick Hayne planted a seed in the maze of streets and trees that make up West Philadelphia, Pennsylvania. He opened a store and called it Free People.
Who is the founder of Liberate? ›
Liv Bowser is the CEO and founder of Liberate and is the leading voice for wellbeing and mental health in the workplace.
What made Alan Freed famous? ›
From popularizing the R&B records that became the foundation of rock to planning the first rock and roll concert, Alan Freed was the tireless promoter of the genre.
