He was the second son of the Count Henry VI of Waldeck and Elizabeth of Berg and was considered a belligerent man.
In 1399, he was appointed bailiff of the districts Fritzlar, Hofgeismar, Battenberg, Rosenthal, Elenhog and Wetter of the Electorate of Mainz.
Henry reckoned that this office provided him with enough power that he could afford to break his alliance with the Landgraviate of Hesse.
Frederick thought that he had a good chance to succeed Wenceslaw, but Archbishop John II of Mainz favoured the election of Rupert, the Elector Palatine.
The newly elected King Rupert investigated the attack on Duke Frederick and Henry was sentenced to the foundation of an altar with perpetual requiem mass at the St. Peter's Church in Fritzlar.
Henry led numerous feuds with neighboring nobles, including the Lords of Padberg and the Bengler League.
Every year on the day of Saint Regina's feast on June 20 a mass and a procession are held in the Hanseatic City of Korbach in remembrance of this feud.
In 1424, Henry and his son Wolrad pledged half of their territory for life to Landgrave Louis I for 22000guilders.