Achieve Review

Achieve legitimacy and licensing

Yes. Achieve is the consumer brand of Achieve Company, founded in 2002 by Andrew Housser and Brad Stroh, the same founders behind Freedom Financial Network. Its personal loans come from Achieve Personal Loans (NMLS 227977), the lender formerly called FreedomPlus, and are originated by Cross River Bank. Home equity lines come from a separate affiliate, Achieve Loans (NMLS 1810501).

The BBB rates Achieve A+ and lists it as accredited since September 9, 2021, with 107 complaints in the last three years. Trustpilot shows 4.7 out of 5 from about 13,000 reviews, though Achieve invites customers to review, which tends to lift scores. In the CFPB database, complaints are filed under Freedom Financial Network: 682 in the last three years, nearly all answered on time.

The part to understand is the family tree. Achieve says Freedom Debt Relief is its subsidiary and a separate brand, not replaced by Achieve. Old Achieve debt relief pages, once marketed as Achieve Resolution, now redirect to freedomdebtrelief.com.

Achieve personal loan rates and fees

Achieve’s legal disclosure lists fixed APRs of 6.25% to 35.99% that include an origination fee of 1.99% to 9.99%. The fee is taken out of the loan, so on a $20,000 loan with an 8.99% fee you receive about $18,200 but repay the full $20,000. The 6.25% floor is limited to borrowers with excellent credit who borrow less than $12,000 for 24 months.

Achieve’s own example: a 4-year, $20,000 loan at a 15.49% rate with an 8.99% fee has a 20.77% APR, a payment of about $561.60 a month and a total cost of $26,966.26.

Read the numbers carefully. Achieve’s FAQ text still says APRs of 8.99% to 29.99% and fees of 1.99% to 8.99%, which do not match the disclosure. Go by the APR and fee printed in your loan offer. There is no prepayment penalty.

Achieve loan requirements and discounts

Achieve requires a minimum credit score of 560, or 660 for loans of $35,000 or more. Meeting the minimum does not guarantee approval: Achieve also looks at your debt, income and credit history. Expect the best odds well above 560. Loans are not available in every state, and minimum amounts vary by state.

Three discounts can lower your rate:

• Co-borrower: add a qualified co-borrower with enough income.
• Retirement assets: show enough savings in a 401(k), IRA, Roth IRA or TSP.
• Direct pay: let Achieve send at least 85% of the loan straight to the debts you are paying off.

Achieve says average interest savings from these discounts ran 0% to 4% on qualifying 2024 loans, and not everyone gets them.

Achieve HELOC and home equity loans

Achieve Loans offers a fixed-rate home equity line of credit for homeowners, often marketed for debt consolidation. Lines run from $15,000 to $700,000 at 6.10% to 15.17% APR, with 10, 15, 20 or 30 year terms and a 5-year draw period. You get the full amount at the start and can pay down and redraw during the draw period. The minimum credit score is 600, the home must be owner occupied, and combined loan to value is capped at 75% to 90%.

Closing costs are significant: $750 to $10,304 depending on the line and state, including an origination fee of up to 3.5% and a $725 underwriting fee where allowed. Achieve says funding can take as few as 5 days, though its comparison table lists 10 to 12 business days. Your home secures the line, so missed payments put it at risk. Compare a HELOC from your own bank or credit union before you sign.

Achieve debt relief, Freedom Debt Relief and the CFPB case

If you ask Achieve about debt relief, you are sent to Freedom Debt Relief, a debt settlement company in San Mateo, California. It asks you to make monthly deposits into a dedicated account while it negotiates with creditors to accept less than you owe. Its fee is 15% to 25% of enrolled debt, charged only after you approve a settlement and the first payment is made, and programs average 24 to 48 months. You can cancel at any time; remaining funds in your account, minus fees already earned, are returned within seven business days.

Freedom Debt Relief has a record with regulators:

• CFPB, 2017 to 2019: the CFPB sued in November 2017, alleging the company charged fees without settling debts as promised, charged fees after consumers negotiated their own settlements, and misled people about fees and its ability to negotiate with all creditors. It settled in July 2019, agreeing to $20 million in restitution and a $5 million civil penalty. Refunds went out from October 2020 to December 2022.
• New York, 2020: the state Attorney General secured $3.6 million for more than 8,000 New Yorkers over savings claims that broke a 2011 agreement, under which the company had refunded $1.1 million and paid $100,000 in penalties.
• Washington, 2011: about $800,000 in refunds plus $70,000 in costs over fees above the state’s 15% cap.
• Advertising, 2025: the National Advertising Division asked Achieve to change some debt resolution ads, including calling payments “lower” rather than “low” and making clear only unsecured debt qualifies. Achieve agreed.

Debt settlement usually means you stop paying creditors, so late fees build, your credit drops and you can be sued. The FTC warns that forgiven debt may be taxable.

Achieve complaints and how to avoid problems

Of the 682 CFPB complaints filed under Freedom Financial Network in the last three years, the largest groups were debt or credit management (233), credit reporting (224), debt collection (125) and personal loans (77). The most common issues were incorrect information on credit reports, services not provided as promised, and improper use of credit reports. Fifty-three were closed with monetary relief.

To avoid problems:

• Ask whether you are being offered a loan or a debt settlement program. They have very different effects on your credit.
• Compare the APR and the cash you will receive, not the monthly payment.
• If you choose direct pay, keep paying each old account until it shows a zero balance.
• Pull your credit reports at AnnualCreditReport.com after the loan funds, and dispute any errors with the bureau and Achieve.
• If a problem is not fixed, file a complaint with the CFPB.

The rules that protect you

Federal rules bar a debt settlement company from collecting fees before it settles a debt, so walk away from anyone who wants money up front. The CFPB suggests considering a nonprofit credit counselor, or negotiating with the creditor yourself, before you hire a settlement company. Lenders must show you the APR and finance charge in writing before you accept a loan, and for a HELOC on your main home you have three business days after closing to cancel under the federal right of rescission.