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A Review of Franklin Debt Relief in Chicago, Illinois |
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Franklin Debt Relief
180 N Wabash St, Suite 320
Chicago, IL 60601
Other Business Names: none
Business Start Date: 2006
BBB members: It appears that Franklin Debt Relief was accredited by the BBB until the BBB instituted
its policy of no longer allowing debt settlement companies to be members.
This policy was created largely in response to the volume of complaints
being lodged against certain companies in the debt settlement industry, not
due to the actions of Franklin Debt Relief it appears since they have not
had a complaint in over a year despite servicing more than a thousand
consumers according to a recent press release. From PayingPaul.com’s
research, Franklin Debt Relief seems to satisfy a very high rate of its
clients.
Complaints: 1 in the past three years
The Association of Settlement Companies (TASC): Franklin is a member in
good standing.
International Association of Professional Debt Arbitrators (IAPDA):
Yes, Franklin Debt Relief is certified by this organization.
What is the total fee of the program?
The fee for Franklin Debt Relief is 15% of the amount owed. It is paid over
the first 18 to 19 months of the program. The fees are included in your
monthly payment.
Do you have a money-back guarantee?
Yes, Franklin Debt Relief offers a guarantee that consumers will save at
least 30% off their balances at the time a debt is settled.
Eligibility
What type of debt do you work with?
Unsecured debt like credit cards, personal loans, medical bills, and
balances from repossessions
What is the minimum amount of debt to qualify?
$10,000
Does a client need to include all of their debt to qualify?
Franklin does not require this to qualify, but they make it clear that doing
this is beneficial to the negotiations.
Do you handle the negotiations yourself?
Yes.
Miscellaneous
Based on their website and conversations with debt consultants from this
company, Franklin Debt Relief seems to be one of the most honest and
insightful companies in the debt settlement industry. Of companies who
service companies themselves instead of outsourcing it to another company,
Franklin appears to have the most solid track record based on their BBB
complaint history, membership with TASC, and certification with IADPA.
(Disclaimer: In no way should this be construed as a formal statement made
by the company about the services it offers. Moreover, although an effort
has been made to keep this information up to date and accurate, in no way is
this a comprehensive overview of the company profiled. For complete
information, please contact a representative from this company.)
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