Posts: 19
Registered: ‎07-29-2007

Freedom Point!!!

Hey everyone here is a question my younger sister asked me and I have no idea as I have not used a company like this before. 
She is married and her husband was a marine.  While active in Iraq there were some problems with the house and she had to use her credit cards to pay for some repairs etc...
My question is they took 4 credit cards and called the company Freedom Point to get one of those "ONE LOW MONTLY PAYMENT PLANS"  Well Freedom point is not paying her bills on time hurting her credit...When she called to cancel her account with them they stated it would hurt her credit more to cancel...She has already dropped to under 540...
Does anyone know if this is true???  They are able to pay more than the min balance each month and could pay off the cards in a little over one year...Not to mention Freedom Point is charging a service type fee on top of the monthly payments....And with only 166.00 a month going towards the cards it will take many many years to pay them off at that rate...
Any help would be greatly apprec....Thanks...
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007

Re: Freedom Point!!!

I would pass. They aren't doing anything you cannot do for yourself.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+