Freedom Consultancy experiences a very high call volume which affects our ability to process loan applications quickly and efficiently. As such we ask that you first check through our FAQ section for an answer to your query. Failing that, please use the contact form below and a member of our team will contact you back within 2 business hours. Please be patient and understand that we must respond to inquiries in rotation. If your inquiry is urgent, please type URGENT in the subject field.
No. Although the vast majority of our loan applicants are referred by registered facilities we do accept loan applications from people that have not yet chosen a treatment program but are exploring financial options. The only requirement is that approved loan applications must be used at a registered treatment facility in our network. Please check our directory for details of participating programs.
FreedomLoans helps clients obtain financing for every type of adolescent and adult behavioral health program, both outpatient and residential, short-term and long-term, intervention and aftercare: therapeutic boarding schools, military schools, special needs schools, wilderness programs, residential treatment centers, weight loss centers, eating disorder clinics, addiction treatment, and elective or alternative medical therapies.
If your credit score is less than 650 or your DTI is more then 42% you will need a co-signer that has credit of 650 or higher or an alternate borrower on your application. A FreedomLoan does not have to be taken out by the person accessing the program; many of our loans are taken out by friends or family members on behalf of their loved one.
Your debt to income ratio your outstanding monthly debt (mortgage/ rent, installment loans, credit card payments, auto loan payments) calculated as a percentage of your monthly income. Debt to income ratio helps us establish if you have enough room in your monthly budget to afford a loan repayment. If your DTI is higher then 42% you will need to submit your loan application with a co-signer who has credit of 650 or above.
If you are currently unemployed or receive state benefits you will probably not be approved. We strongly suggest that you apply for aFreedomLoan with a co-signer that has credit of 650 or above, or a substitute borrower that can take out the loan on your behalf.
If you are approved we will return the decision to you with a loan offer. If you accept the loan offer we will issue loan documents for your signature and instructions of what verification document(s) we may require (last pay stub, last tax return, bank statements, etc) which can be faxed to us so that we can check for errors. If everything is ok, we will authorize your treatment provider to admit you, which could be as soon as the same day.
That depends on the lender. Some lenders pay the borrower directly, whereas others remit the loan amount directly to the facility, program, or school. Loans are chosen based on the family’s eligibility, financial need, and the type of loans their program of choice will accept. We let you know in advance about the lender’s payment procedures and schedule.
Interest rates start at 5.99%; the exact rate depends on the borrower’s credit score, credit history, and financial profile. Loans offering the first six months interest free are also available. For those with poor credit, interest rates can be as high as 21.99%. Interest rates fluctuate with market changes.
Our rates vary according to credit, debt to income ratio and other financial history factors but range 5.9%APR – 21.9%APR, with terms available up to 8 years. Please use the loan calculator for guidance.
RANCHO MILAGRO RECOVERY is a Residential Treatment Facility which implements current evidence based practices, tailored to address the needs of each particular client in order to provide individualized quality client care