Franklin Debt Relief
Free Consultation Form
First Name:
Last Name:
Phone No.: --
Email :
Debt Amnt:

Debt Relief Solutions
What's New?

Non Profit Debt Relief Scams

Non-profit debt relief companies have become an increasingly popular option in recent years, due to the economic downturn and...


Reputable Debt Consolidation

A lot of people turn to debt relief agencies after their credit score has already been significantly damaged by late...


Follow FDR in


  Home About Us Blog Privacy Policy Testimonials Contact Us
Debt Reduction  Assistance
Call Today: (877) 274-1260
If you successfully complete our program, it’s possible that you’ll enjoy these benefits:
Settle your debts for less than you owe
  (read here for full details about how much you can expect to save)
Resolve your unsecured debts in 18 to 60 months
  (read here for full details on how long our program lasts)
No Up Front Fees - Don't Pay Till You See Results!
Debt Reduction  Myths

With more and more Americans turning to debt reduction, the level of media attention to debt relief options has increased dramatically. Unfortunately, much of what is communicated and widely assumed about debt reduction is false or skewed. The purpose of this article is to dispel some of the most common misconceptions about debt reduction solutions.

*You need a home to be eligible for debt reduction. Debt negotiation does not necessitate home ownership whatsoever. Since it involves providing a service and not a loan, debt settlement can potentially resolve your debt for less than you owe and help you avoid bankruptcy without any collateral necessary.

*Debt reduction involves consolidating your debts and lowering your interest rate. While credit counseling companies do offer this service, debt settlement programs may be able to settle your actual debt for less, not just interest rates, although interest does continue to accrue until the debt is settled.  Click here to read full details about our debt settlement savings estimate

*Debt reduction with credit counseling doesn’t affect your credit negatively. While FICO (company responsible for the most widely used credit scoring service) has publicized that enrollment in a debt management program (DMP) does not have a negative effect on your credit score, some lenders will paint quite a different story. Some lenders go as far as to compare the effect of credit counseling on your credit as equivalent to a Chapter 13 bankruptcy filing.

*The negative effect of a debt reduction on your credit is permanent. Although the exact effect of debt settlement or credit counseling is impossible to predict, we do know that it will likely be negative, at least in the case of debt settlement, but it will not be permanent.  For starters, any negative remarks showing on your credit can only be reported for up to seven years. Moreover, by improving your debt to income ratio from settlement (assuming you successfully settle all of your unsecured debts) and showing positive payment history after completion of a debt reduction program, your eligibility for credit will be a matter of time. 


Debt Settlement | Debt Negotiation | Avoid Bankruptcy | Bankruptcy Alternatives | Debt Relief | Debt Reduction | Debt Settlement Company | Debt Settlement Consolidation | Bankruptcy Resources
Debt Consolidation Resources | Debt Settlement Resources | Credit Counseling Resources | Useful Resources
? 2009 Franklin Debt Relief LLC. All Rights Reserved