That said, if you have a lot of money going out to credit cards each month, and those are at higher interest rates, you may be able to get those on a lower monthly payment plan, which may free up cash that allows you to keep up on your Freedom Financial loan. For this reason, if your monthly cash flow is impaired to the point that you will need a more permanent lower payment solution in order to confidently deal with your Freedom Plus loan, I would then look to settling the loan balance for less than the amount owed, or look into your qualifications for filing bankruptcy. Unlike credit card debts, longer term monthly payment reduction is typically not an option on fixed loans Freedom Financial makes. Talking to your lender over the phone may result in their being able to offer some short term payment flexibility once they understand more about your situation. If you are not yet late with your Freedom Plus loan payments, or barely behind (only missed one or two payments so far), and especially if you are only experiencing a temporary monthly cash flow set back, call Freedom Financial. Lowering your monthly payments working directly through Freedom Financial I will outline all 3 options below, and with a focus on settling with Freedom for less because payment plans and bankruptcy are more straight forward than negotiating settlements. These consist of lowering your monthly payment through different programs, settling your Freedom Financial loan for less, or hitting the financial reset button using bankruptcy. I tend to focus on 3 mainstream options when working with someone who can no longer cover their monthly payments on unsecured debts. 1620 Dodge St.If you have reached the point where your Freedom Plus loan is no longer affordable, you do have a few debt relief solutions to consider. Loans are made and serviced by First National Bank of Omaha (FNBO ®). Other restrictions may apply.īy agreeing to these terms, you are also authorizing FNBO to verify your employment, income and other relevant information. Loans cannot be used for postsecondary educational expenses or tuition, or to consolidate post-secondary educational loans. Please note, new personal loan holders will generally see their FICO ® Bankcard Score 9 (the version of FICO ® Score we use to manage their account) within 45 days of account opening. See Key Information on Your Loan for more details.ģFICO and “The score lenders use” are trademarks and/or registered trademarks of Fair Isaac Corporation in the United States and other countries. Your APR will be in the range of 10.74% Fixed APR (if you are enrolled in AutoPay) to 18.99% Fixed APR, depending on your creditworthiness. Example: On a 12.99% Fixed APR loan you will have (1) 36 monthly payments of $33.69 per $1,000 borrowed or (2) 48 monthly payments of $26.82 per $1,000 borrowed or (3) 60 monthly payments of $22.75 per $1,000 borrowed or (4) 72 monthly payments of $20.07 per $1,000 borrowed. See the Key Information on Your Loan for more details.ĢYour repayment terms will depend on your APR and loan term for which you qualify. When you enroll in AutoPay, a rate as low as 10.74% fixed APR may be available, depending on your creditworthiness. To qualify, you must set up automatic payments from a checking or savings account at the time of loan origination. You may receive a 0.25% interest rate discount by enrolling in AutoPay. The lowest rate may not be available for the term chosen. Please note that all applicants may not qualify for the lowest rate. *Please read " Key Information on Your Loan."ġYour fixed APR will be established when we discuss your specific request with you and will be in the range of 10.99% fixed APR to 18.99% fixed APR, depending on your creditworthiness.
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