Franklin Debt Relief Reviews
Looking for honest Franklin Debt Relief reviews? You’re in the right place!
In this Franklin Debt Relief review, we will discuss each and everything about the company and will help you decide whether or not it is worth considering. Let’s begin!
WHAT IS FRANKLIN DEBT RELIEF?
Franklin Debt Relief is a Wood Dale based debt settlement company established in 2006. It is named after the two popular Franklin’s from the history – The president Franklin D. Roosevelt and the patriot Benjamin Franklin. The main aim of the company is to offer relief to those who are having financial stress. This debt company is currently offering debt relief services in over 100 states of the USA. The company is well-known and has been in the industry for over 15 years.
MAIN HIGHLIGHTS
* Franklin Debt Relief requires the clients to have a minimum debt balance of $10,000. This is the debt requirement of a majority of companies.
* Franklin Debt Relief company is IAPDA and AFCC accredited. American Fair Credit Council (AFCC) is a renowned trade association in the industry. Further, the company also has its debt resolution experts that have been accredited and well-trained by the International Association of Professional Debt Arbitrators or IAPDA.
* Franklin Debt Relief (FDR) is a well-established company that has been serving the industry for 15 years.
* Franklin Debt Relief only works for unsecured debts including personal loans, credit card accounts and payday loans.
* Franklin Debt Relief is available in over 100 states of the USA.
* Franklin Debt Relief is based on a third-party company to settle the debts.
* Franklin Debt Relief offers a reliable customer support 24 x7.
FRANKLIN DEBT RELIEF – KEY FEATURES
TIME IN INDUSTRY
The company was founded back in 2006 in Chicago, making it 15 years old.
DEBT EDUCATION
Franklin Debt Relief offers a detailed FAQ section on their site that provides an in-depth education of how the company works, who can benefit from the program, how your credit will be affected, how they get the funds, what are the prerequisites and many more questions along with the detailed answers. It’s a good way to educate the customers but there a lot that can be done for offering a thorough education. But fortunately, there is also a blog that publishes articles about debt relief myths, credit scores, student loan debt, how to avoid frauds and scams and more. These educational materials are based on solid research and financial principles. However, the deal is, FDR hasn’t updated the blogs, they are outdated to be precise. But again, the education material is great to get started.
Moreover, they could also offer training programs and specify tools to their customers. FDR runs a few training programs but they lack a proper structure. Right now these facilities are not available but we can see them in the upcoming days.
MOBILE FRIENDLY
Franklin Debt Relief’s website can’t be used and accessed through mobiles and tablets. It can only be used through a desktop.
AVAILABLE SERVICES
FDR is a debt settlement company which is trusted by thousands of its customers. Its debt specialists work personally with each customer and help them by negotiating with the credit card companies to settle for a minimum possible debt. If you pay consistently, there are fair chances that half of your debt will be removed. FDR has many benefits, but they have made it clear that debt settlement is not for each and everyone out there. The customers with less than $10,000 of debt balance and the ones without a reliable income source can’t avail the services offered by Franklin Debt Relief. And not just the FDR, these guidelines are offered by a majority of debt settlement companies.
ONLINE PORTAL
FDR doesn’t have any online portal or platform for debt settlement. The customers use their escrow account to track and monitor their account and keep themselves up to date.
ACCREDITATIONS
Franklin Debt Relief is both IAPDA and AFCC accredited which makes it highly reliable and trusted.
FRANKLIN DEBT RELIEF – PROS & CONS
PROS
* It’s a well established and trusted debt settlement company.
* Doesn’t require any monthly consultancy fee
* It is IAPDA and AFCC accredited
CONS
* Requires a minimum debt balance of $10,000
* No online portal
* Outdated articles on blog
FRANKLIN DEBT RELIEF – FREQUENTLY ASKED QUESTIONS
WHAT IS THE AIM OF FRANKLIN DEBT RELIEF?
Franklin Debt Relief provides its customers with debt relief services for their unsecured debt such as personal locals, payday loans and credit card debt.
HOW MUCH DOES FRANKLIN DEBT RELIEF CHARGE?
FDR works on a contingency fee basis. Know that the companies operating under this model have their charges based on a fixed percentage of debt at the time the consumer registered. Sometimes, the charges are also based on a fixed percentage of savings negotiated by the debt settlement company. In general, most debt settlement companies help the clients to waive off 40% to 60% of their enrolled debt.
Talking about Franklin Debt Relief, they do charge for their services but the specific rates haven’t been disclosed yet. Also, the charges may vary from one customer to another, so it’s always better to get the quote directly.
The good news is, they don’t charge any monthly consultation fee.
DOES FRANKLIN DEBT RELIEF OFFER ANY MONEY-BACK GUARANTEE?
The answer is no. Franklin Debt Relief doesn’t offer any kind of guarantee that states that you don’t have to pay until your debt is settled. However, no debt settlement company can ask for upfront payment, it’s illegal. Most companies require you to pay the amount in installments.
WHAT ARE THE MINIMUM DEBT REQUIREMENTS OF FRANKLIN DEBT RELIEF?
Franklin Debt Relief only considers the clients with a minimum unsecured debt balance of $10,000. Clients with less debt balance than this can’t avail the debt settlement programs and may consider getting credit counseling services or a debt consolidation loan from the company instead.
THE BOTTOM LINE
Franklin Debt Relief is a trusted company that has been in the industry for over 15 years now. It is both AFCC and IAPDA accredited which makes it reliable and secure. If you match the prerequisites of the company, you can consider its services. However, we recommend taking a free consultation from the company before making any final decision.