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What's New
| A Review of Franklin Debt Relief in Chicago, Illinois |
| 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. |
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| Washington DC |
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When George W. Bush signed the new bankruptcy laws in Spring of 2005, few could predict the long-term impact this would have on the ability of truly overwhelmed debtors to seek debt relief through bankruptcy. After a couple years with the new law, however, it is clear that creditors won this battle in a landslide. The biggest difference between the bankruptcy law of yesterday and today is that you can no longer choose which chapter bankruptcy you want to file. This should be of the utmost importance to District of Columbia debtors with an above average salary or monthly income. The reason: you could be forced to file Chapter 13 bankruptcy. Under this plan, your debt could be paid back in full over a five year period, while still causing tremendous damage to your credit score. Here’s some Washington D.C. median income figures from 2006 to get a rough idea of where you stand: 2-person families 65,913 3-person families 59,619 4-person families 71,571 5-person families 35,754 6-person families 49,423 7-or-more-person families 75,135 If your income exceeds the median in DC, you will need to pass the bankruptcy means test in order to qualify for Chapter 7 bankruptcy. Rather not deal with the headache and credit impact of filing bankruptcy? Let PayingPaul.Com match you with a pre-qualified debt service for help! Or feel free to check out some other resources about Washington D.C. debt laws: Washington DC Consumer Credit Counseling Services Washington DC Bankruptcy Laws Washington DC Debt Collection Bankruptcy Statistics for the District of Columbia 2004: 1,892 2005: 2,386 2006: 523 Washington D.C. saw a precipitous drop in the number of personal bankruptcy cases as a result of the passing of bankruptcy reform. In all, the total filings was 78% less in 2006 than in 2005. Needless to say, it’s safe to say that the new legislation was successful in pushing more District of Columbia consumers to bankruptcy alternatives like credit card debt negotiation and credit counseling programs. |