Consumer complaint received 2019-08-20 00:00:00
Product: Money transfer, virtual currency, or money service — Debt settlement
Issue: Fraud or scam — 
Company: FREEDOM FINANCIAL NETWORK
State: CA

Complaint narrative:
XX/XX/2019 was contacted by a financial advisor from XXXX XXXX XXXX.  He said I wasn't qualified for the loan due to high ratios, then he proceeded to solicit service for Freedom Debt Relief.  At the time, I was unaware that he was employed by XXXX XXXX.  It was very aggressive sale tactic.  I informed his I wasn't late with any of my creditors.  He told me it would take years (15) to get out of debt and this is a quicker solution.  I asked him who would notify the creditors and he said they would.  This ended up to be a lie.  He did not thoroughly explain how the fees worked.  After we enrolled, we had to have the start date at the time of my husband's SSI deposit which is the XXXX of the month.  After we made the second deposit.  On XX/XX/2019, we received a Settlement Agreement for Rise Loan.  The loan was for XXXX, the settlement amount was XXXX.  The settlement fee was not listed on the authorize to settle form.  It did state that "This settlement and any associated fees are scheduled to be paid over 8 payments."   I was taken back when I checked my XX/XX/2019 statement on my dedicated account and it showed my deposits of XXXX, XXXX distributed to Rise and all the remaining funds to fees.  I called customer service and was told that all their fees are to be paid up front not as noted on the settlement agreement.  On XX/XX/2019 I spoke with customer service to again clarify the interest rate and terms.  I told her I was not happy with there service as it causing me more fees from my creditors.  After speaking with customer service a week later, I sent a notice in writing that that we were terminating the plan.  Customer service requested that I call them and I didn't get notice that we were terminated until XX/XX/2019.  At that time, we requested the remaining money in the dedicated account and they informed me that it was all towards their fees due.  I questioned why they would be entitled to the XXXX remaining amount and she stated that we owe the full fee charged for the settlement.  We feel their business practice is very deceptive and they prey on vulnerable people.  This is no different than the payday loan business on steroids.  We had 24 accounts listed and by not notifying our creditors that we enrolled in their plan, would leave us open to not only destroyed credit, but being sued. I would have NEVER agreed to NOT having my creditors notified.  If I would have known that for each account they were going to take all the fees in front of the creditors, I would NEVER have agreed.  Now, we are left with excessive fees, late payment fees, and creditors calling constantly.  Words cannot say how dissatisfied I am.  I feel scammed and they practice deceptive business practices.  Now they tell me out of nearly $900, that most of the money went to them.  This is not right!  Lastly, I noticed that they were sued and settled in XX/XX/2019.  Yet, still their methods of business remain the same and I just became another victim of there scam.

Company response to consumer: Closed with explanation