Freedom Club USA Offers Debt Discharge. Scam?
There are many debt discharge programs available today, especially on the internet. FreedomClub USA is a particular one that I’m casually keeping tabs on.
The reason that I know about this discharge program is because I paid a lot of money to a similar program about 5 years ago. That program, after 2 years, fell apart because the guy running it supposedly passed away.
Needless to say, I and many other people lost several thousand dollars as a result. This is my personal report on FreedomClub USA.
Anyway, when the program closed, I was approached via email about FreedomClub USA. I spoke to a live person and they assured me that they had figured out a way to discharge all types of debts including mortgage, auto, credit card, student loan, and even IRS debt. Sounded good, but after having lost several thousand dollars to a similar program and another $2,500 to an auto debt discharge program, I was done gambling my money away.
Nothing substantial has happened in the last 3 years but it appears FreedomClub is still busily collecting peoples money and raising their hopes of debt elimination.
Advertised Debt Elimination Payouts Are Outrageous And Therefore Appealing
FreedomClub states that you are entitled to receive upto 56 times the amount of your debt with the bank. For example, if you have a $50,000 debt, you are entitled to receive $2,816,111 per FreedomClub. How do I know this? I used their excel spreadsheet calculator which I downloaded from their website. They do have a disclaimer though… “** FCUSA makes no guarantees of payment. This is offered on a best efforts basis.” How convenient! But, this seemingly absurd payout is what I suspect draws in a lot of people.
Just The Fees Are Day Light Robbery
FreedomClub USA charges people $300 annually to become a member and $1,000 for lifetime membership. They also have an elaborate scheme where you have to pay many, many thousands of dollars to eliminate your debts. For example mortgage debt is $2,700, credit card $4,000 for up to 3 credit cards, etc.
For me, all this would cost in excess of $20,000!! This is ridiculous for a idea that they are still trying to “make work”.
So, Scam Or Not?
I’m not necessarily suggesting that FreedomClubUSA is a scam, but it seems highly unlikely that debts could be discharged this easily without the Banks putting up a serious fight. I would be highly cautious of FreedomClub’s program or any other for that matter.
The only way I know of eliminating most of your debt is through a federal program called Chapter 7 Bankruptcy!
I will continue to watch what happens with FreedomClubUSA’s program, but, for now, my money is not leaving my back pocket (actually, my mattress).
If you are in FreedomClub USA’s current program or are thinking of getting into it, let us know your thoughts by commenting below. For a snapshot of FreedomClub USA’s month-by-month updates please see FreedomClub USA Updates.
No related posts.
I too stumbled upon Freedomclubusa.com over 3 years. I signed up for the
free enewsletter. I promptly retrieved it from my email. I read it was
given a glimpse into information I never knew exist. A Privatize-central
banking system gain control of american money system back in December 23,1923.
claims spread across the internet with mutilple reliable source have stated:
The federal Reserve is a private corp it loans $$ to the U.S GOVT plus interest.
I notice Freedomclubusa.com offers edcational programs to their members.
Education equals knowledge in turns results in wealth creation for members.
I too find it very oddly how the approach of the methods of the club, Im not suggesting they are a scam but, Freedomclubusa.com.
The club has been around for 5 years and continuing to expand. Now with knowning, keep this in mind, that if this WAS a complete Total SCAM anyone knows with a sane mind this operation would’ve came to a STOP a very long time ago by the (AG) attorney General. Freedomclubusa could be operating in safeguildlines means.
Strange though! I investigated FCUSA over 2 1/2 years ago there was contact with a FEDERAL AGENT and FREEDOMCLUBUSA and NO ORDERS of a SHUTDOWN. WHY! Perhaps this may be an legitimite club. I have heard they encourage people to research/investigate into matters pretaining to the history of banking.
The matter of opinion is 1 or 2 things. Either they actually have a legitimite
process or their educational program keeps them in business. By the way the FOUNDER of Freedomclubusa.com- implies no gurantees/BEST EFFORT only.
I believe they are hired as an administrative to file a claim on your behalf.
The process itself thru best efforts claim to reap hugh substanial amounts of
monetary rewards/settlement. In some case its 70%members & 30%FCUSA.
It simply amazes me how scams come & go all the time. Recently a friend of mind sent me a recorded call of the founder on the phone with the guy who is head of the research team.
I’m leaving this one up too viewers to decide… Due your due diligence on this one.
From the operations of RedShieldsLLC..
FYI – U.S. Treasury Auction Schedule
For The Last Week Of JULY 2009
70 day CMBs, (Commercial Mortgage Backed Securities)
$30 billion (Friday, 24th)
13 week Bills, $32 billion (Monday, 27th)
26 week Bills, $31 billion (Monday, 27th)
19 year, 6 month TIPS (Treasury Inflated Protected Securities)
(reopened), $6 billion (Monday, 27th)
52 week Bills, $27 billion (Tuesday, 28th)
2 year Notes, $42 billion (Tuesday, 28th)
5 year Notes, $39 billion (Wednesday, 29th)
7 year Notes, $28 billion (Thursday, 30th)
That’s $235,000,000,000 for the last week of July ‘09!
U.S. Treasury Auction Schedule for
August, ’09 in progress –
August 5th, Fed bailed out over $7 billion in U.S. Treasury Bonds
August 6th, Fed bailed out $7 billion in U.S. Treasury Bonds
* Fed’s non-transparence policy (unknown total to date)
3 year Notes, $37 billion (Tuesday, Aug 11th)
10 year Notes, $23 billion (Wednesday, Aug 12th)
10-year Notes, $15 billion ( Thurs, Aug 13th)
6-month Bills, $30 billion ( Mon, Aug 17th )
•China holds $801 billion in U.S Securities ( May ’09)
•Japan holds $677 billion in U.S. Securities ( May ’09)
•Total Notes held by all countries -> $3,293 Billion•Issuing $2 trillion in new bonds this year to finance economic and financial rescues. (facing poor demand)
•U.S. Treasury near debt ceiling -> $12.1 Trillion
•U.S. Secretary of the Treasury, Tim Geithner stated debt ceiling will be breached mid October, ‘09
•Reported, by way of U.S. Treasury Swaps, the U.S. Treasury engaging friendly foreign central banks as indirect auction bidders.
The FCUSA debt redemption creative stimulus package by design exceedingly reimburses the member participants and rewards FCUSA. Is it 100% a “win-win” or are there consequences or is it even feasible?
A typical mortgage redemption of $150,000 by way of the “conversion” process, (4) times compensatory and factoring (80) times punitive damages equates to $48,000,000. FCUSA lays claim the debt redemption fabricates matching dollars for the U.S Treasury. A mortgage redemption of $500,000 x (4) x (80) = $160,000,000. If again by the example with 1000 FCUSA members submitting a debt/mortgage redemption of $150,000 x (4) x (80) x (1000) = $4,800,000,000. (100,000 participants = $4.8 TRILLION) FCUSA proposed Phase II debt redemption structure (presumably fashioned after the “B” process) a disproportionate 90/10 split whereby FCUSA retains 90% and the claimant’s net is 10%, forfeiting the majority of the settlement and agreeing to a nominal portion of the award. FCUSA planned electronic filing of the (3) default judgment letters is arguably a stand alond Admiralty Law process. Taking in account the designated CEO recipient is unaware of receiving them, yet alone bank filters and gate-keepers.
IF indeed FCUSA acting as as Debt Processer Arm of the U.S. Treasury intending to transact bills electronically must be certified and registered with the U.S Treasury’s Internet Payment Platform (https://www.ipp.gov) Bills submitted are required to be approved and the funds allocated for payment must be available.
Does the U.S. Treasury have the capacity or the capability to sustain a TSUNAMI of FCUSA Debt Redemptions while swimming in RED ink? Is the FCUSA Debt Redemption 100% a “win-win” consequentially overwhelming the already excessive note auctions further accelerating the devaluation of the U.S. Dollar? FCUSA contends whatever new currency is adopted, in the event the U.S. Dollar totally craps out, it will be business as usual, REALLY? –
Interesting perspective on FCUSA’s program… Seems quite absurd in what FreedomClub is trying to do when you look at it this way!
Thank you so much for this aitrcle, it saved me time!
A person who wanted to purchase my home that is going into foreclosure is in this FCUSA program. He said he had a trust fund with 9m and after a month at least 2 times he could not prove that he had any sort of collateral in his accounts to do any transaction. He previously had said he was going to help someone out of an eviction and again, no money was forecoming from his trust fund. Sounds like a scam to me, and he paid money out with no guarantee that they can provide anything. There seems to be a reason why the funds can’t be deposited, and then a new procedure has to be put into place, and it keeps repreating itself. SCAM. Pure and simple. Why they have not been shut down is another mystery.
Please do not allow yourself to join the large number of people scammed by JASON YATES (who operates website company http://weequalsus.com). Since November 2010 many purchased a mortgage cancellation process from Yates. Though he stated the whole process could be completed in 59 days, after MANY MONTHS he has still not gotten the forensic audit to most who paid him for it. Many have lost their homes waiting for it. His former 2 administrators think he simply pocketed the money. He also has scammed 6 investors for 186,000 in a leveraging program in which his contract assured they would be repaid their initial investment, but he has NOT done so. For further info to protect you, call me at 626-527-5207 (Dr.James Padgett)
Your story was really inoframtvie, thanks!