Freedom Debt Relief is the largest debt settlement company in the United States. However, the company is facing a lawsuit from the Consumer Financial Protection Bureau. Freedom Debt, the agency alleges, has engaged in deceptive or unethical acts that have damaged consumers. CFPB seeks monetary relief and civil penalties against the company.
According to the CFPB, Freedom Debt Relief didn't inform consumers that they had the right to cancel their participation and get a refund. It also claims that Freedom Debt Relief misled customers about how much they could save on their debts. The company also failed to inform customers that their money was in an account that belonged to them.
Freedom Debt Relief, according to the CFPB, violated numerous consumer protection laws such as the Telemarketing Sales Rule (and the Consumer Financial Protection Act). These charges are in addition to the accusations that Freedom Debt Relief is accused of engaging high-pressure sales tactics and committing fraud. The CFPB is seeking monetary and injunctive relief.
New York State Attorney General's Office is also sueing Freedom Debt Relief. They claim the company did not give clients sufficient notice of their rights, and it has harmed many consumers. Freedom is also accused of making false statements regarding the company's ability negotiate with creditors.
The complaint also states that Freedom has not been transparent about the billing and 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. This is not always possible.
Freedom Debt Relief received one complaint that it charged clients upfront fees even though the debt was not settled. This is because it said it was not allowed to charge the customer until the debt was settled. Many clients who enrolled in this program lost the money they had saved. If the company had told clients that they could have withdrawn from the program and received a refund, this may have prevented some of the fraud.
Freedom Debt Relief also has a problem with their ownership structure. Andrew Housser is the co-founder of the company and the co-CEO. He continues to supervise the company's operations. This includes the approval of its policies. He also knew that Freedom was not willing to negotiate with creditors. According to reports, he could have known Freedom took payments from consumers without negotiating with the creditor.
The lawsuit was brought forth by Freedom because of its unethical and deceptive business practices. Anyone who has had similar issues with Freedom should consult a lawyer for more information about their rights. A lawyer can help you develop a strategy and gather evidence that will help you succeed in your case.
FAQ
What side hustles will be the most profitable in 2022
The best way today to make money is to create value in the lives of others. If you do this well the money will follow.
Even though you may not realise it right now, you have been creating value since the beginning. When you were little, you took your mommy's breastmilk and it gave you life. You made your life easier by learning to walk.
You will always make more if your efforts are to be a positive influence on those around you. In fact, the more you give, the more you'll receive.
Everyone uses value creation every day, even though they don't know it. You are creating value whether you cook dinner, drive your kids to school, take out the trash, or just pay the bills.
In actuality, Earth is home to nearly 7 billion people right now. That means that each person is creating a staggering amount of value daily. Even if you created $1 worth of value an hour, that's $7 million 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 say you wanted to double that number. Let's assume you discovered 20 ways to make $200 more per month for someone. You would not only be able to make $14.4 million more annually, but also you'd become very wealthy.
Every day there are millions of opportunities for creating value. This includes selling information, products and services.
Although many of us spend our time thinking about careers and income streams, these tools are only tools that enable us to reach our goals. The real goal is to help other people achieve their goals.
You can get ahead if you focus on creating value. You can get my free guide, "How to Create Value and Get Paid" here.
Why is personal financing important?
Anyone who is serious about financial success must be able to manage their finances. We live in a world with tight finances and must make tough decisions about how we spend our hard earned cash.
So why should we wait to save money? What is the best thing to do with our time and energy?
The answer is yes and no. Yes, as most people feel guilty about saving their money. No, because the more money you earn, the more opportunities you have to invest.
Focusing on the big picture will help you justify spending your money.
Financial success requires you to manage your emotions. You won't be able to see the positive aspects of your situation and will have no support from others.
Your expectations regarding how much money you'll eventually accumulate may be unrealistic. This is because you haven't learned how to manage your finances properly.
Once you've mastered these skills, you'll be ready to tackle the next step - learning how to budget.
Budgeting is the act or practice of setting aside money each month to pay for future expenses. By planning, you can avoid making unnecessary purchases and ensure that you have sufficient funds to cover your bills.
So now that you know how to allocate your resources effectively, you can begin to look forward to a brighter financial future.
What is personal finances?
Personal finance is the art of managing your own finances to help you achieve your financial goals. It is about understanding your finances, knowing your budget, and balancing your desires against your needs.
If you master these skills, you can be financially independent. This means you are no longer dependent on anyone to take care of you. You're free from worrying about paying rent, utilities, and other bills every month.
You can't only learn how to manage money, it will help you achieve your goals. You'll be happier all around. Positive financial health can make it easier to feel less stressed, be promoted more quickly, and live a happier life.
What does personal finance matter to you? Everyone does! Personal finance is a very popular topic today. Google Trends shows that searches for "personal finances" have increased by 1,600% in the past four years.
People use their smartphones today to manage their finances, compare prices and build wealth. They read blogs such this one, listen to podcasts about investing, and watch YouTube videos about personal financial planning.
Bankrate.com estimates that Americans spend on average 4 hours per day viewing TV, listening to music and playing video games, as well reading books and talking with friends. This leaves just two hours per day for all other important activities.
When you master personal finance, you'll be able to take advantage of that time.
How can a novice earn passive income as a contractor?
Start with the basics. Learn how to create value and then discover ways to make a profit from that value.
You might have some ideas. If you do, great! You're great!
Finding a job that matches your interests and skills is the best way 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.
Whatever topic you choose to focus on, ensure that it's something you enjoy. This will ensure that you stick with it for the long-term.
Once you have found a product/service that you enjoy selling, you will need to find a way to make it monetizable.
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).
You'll need promotion for your rates in either case. It can be shared on social media or by emailing your contacts, posting flyers, and many other things.
Keep these three tips in your mind as you promote your business to increase your chances of success.
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Be a professional in all aspects of marketing. You never know who will be reviewing your content.
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Know what your topic is before you discuss it. Fake experts are not appreciated.
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Emailing everyone in your list is not spam. Send a recommendation directly to anyone who asks.
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Use a good email provider - Gmail and Yahoo Mail are both free and easy to use.
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Monitor your results. You can track who opens your messages, clicks links, or signs up for your mail lists.
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Your ROI can be measured by measuring how many leads each campaign generates and which campaigns convert the most.
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Ask your family and friends for feedback.
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You can try different tactics to find the best one.
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Keep learning - continue to grow as a marketer so you stay relevant.
Which passive income is easiest?
There are many ways to make money online. Many of these methods require more work and time than you might be able to spare. So how do you create an easy way for yourself to earn extra cash?
The solution is to find what you enjoy, blogging, writing or selling. You can then monetize your passion.
For example, let's say you enjoy creating blog posts. You can start a blog that shares useful information about topics in your niche. When readers click on the links in those articles, they can sign up for your emails or follow you via social media.
This is known as affiliate marketing and you can find many resources to help get started. Here's a collection of 101 affiliate marketing tips & resources.
As another source of passive income, you might also consider starting your own blog. It's important to choose a topic you are passionate about. Once you have established your website, you can make it a monetizable resource by selling ebooks, courses, and videos.
Although there are many ways to make money online you can choose the easiest. Make sure you focus your efforts on creating useful websites and blogs if you truly want to make a living online.
Once you have created your website, share it on social media such as Facebook and Twitter. This is known content marketing.
How does rich people make passive income from their wealth?
There are two options for making money online. One way is to produce great products (or services) for which people love and pay. This is called "earning” money.
Another way is to create value for others and not spend time creating products. This is called passive income.
Let's suppose you have an app company. Your job involves developing apps. Instead of selling apps directly to users you decide to give them away free. This is a great business model as you no longer depend on paying customers. Instead, you rely upon advertising revenue.
To help you pay your bills while you build your business, you may also be able to charge customers monthly.
This is how internet entrepreneurs who are successful today make their money. They give value to others rather than making stuff.
Statistics
- 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)
- 4 in 5 Americans (80%) say they put off financial decisions, and 35% of those delaying those decisions say it's because they feel overwhelmed at the thought of them. (nerdwallet.com)
- These websites say they will pay you up to 92% of the card's value. (nerdwallet.com)
- Etsy boasted about 96 million active buyers and grossed over $13.5 billion in merchandise sales in 2021, according to data from Statista. (nerdwallet.com)
- According to the company's website, people often earn $25 to $45 daily. (nerdwallet.com)
External Links
How To
How to make money from home
You can always improve no matter how much money online. Even the most successful entrepreneurs can struggle to grow and increase profits.
The problem is that when you're starting, it's easy to get stuck in a rut--to focus solely on making revenue rather than growing your business. You might find yourself spending more time on product development than marketing. You may even forget about customer service.
It is important to evaluate your progress periodically and ask yourself if you are improving or maintaining your status quo. If you're ready to boost your income, consider these five ways.
Productivity is not just about output. It's also about being able to do tasks well. Find out what parts of your job take the most effort and are energy-consuming, and then delegate these tasks to another person.
For example, if you're an eCommerce entrepreneur, you could hire virtual assistants to handle social media, email management, and customer support.
You could also assign a team member to create blog posts and another to manage your lead-generation campaigns. Delegating should be done with people who will help you accomplish your goals quicker and better.
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Marketing should be a secondary focus.
Marketing does not necessarily have to involve spending a lot of money. Some of the most effective marketers aren't even paid employees. They are self-employed consultants, who make commissions on the sale of their services.
Instead of advertising your products via print ads and radio, or TV, consider joining affiliate programs. These programs allow you to promote other businesses' products and services. You don't have to buy the expensive inventory to generate sales.
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Get Help From An Expert to Do What You Don't Know
You can also hire freelancers for expertise in specific areas. If you don't have the skills to design graphics, you can hire a freelancer.
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Get Paid Faster By Using Invoice Apps
Invoicing can be a tedious task when you are a contractor. Invoicing is especially time-consuming when multiple clients want the same thing.
But apps like Xero and FreshBooks allow you to invoice customers quickly and easily. It's easy to input all of your client details once you have the app and send them invoices.
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You can sell more products with affiliate programs
Affiliate programs can be great because you don't need to have stock. You don't have to worry about shipping costs. All you need to do is set up a link between your website and the vendor's site. Then, you receive a commission whenever someone buys something from the vendor. Affiliate programs can help build a reputation and increase your income. It doesn't matter how good your content or services are, as long as they help you attract people.