Articles by Robert Zangrili on ArticleSnatch.com

Signs of a legitimate Debt Settlement Company

Thu, 19 Apr 2007 00:00:00 -0400

According to recent studies, the average American household has nearly 20 debit and credit cards, with an average of $500 charge on each one; and due to the 2005 Bankruptcy Abuse and Consumer Protection Act it's making it harder than ever for consumers to have their debts wiped out by the courts. What this means is that more and more consumers are feeling overwhelmed and helpless and are seeking professional assistance to reduce debt and avoid bankruptcy. Choosing the right debt settlement company for you is an important first step to getting out of debt. Like all industries, the debt settlement industry has fraudulent businesses. While many debt companies may appear to be similar in goals and structure, it is essential to realize that not all are the same and that some are not to fit your needs. There are debt agencies that will charge high fees and promise to lower your debt, without actually producing any results. Learning basic information about a debt company can help you avoid falling victim to a scam. The most import thing is to ask lots of questions. KEY FACTORS TO DETERMINE IF A DEBT SETTLEMENT COMPANY IS LEGITIMATE: 1. **End Summary** Topics: Fast debt relief]]> Texas debt settlement]]> California debt settlement]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief. FDR is a leading provider of services for consumers who are seeking ways to reduce debt and avoid bankruptcy . FranklinDebtRelief.Com is great resource for debt relief help for consumers with overwhelming credit card debt.

Why Debt Settlement Works Best in Texas

Thu, 19 Apr 2007 00:00:00 -0400

Debt settlement, also known as debt negotiation or debt reduction, is a relatively new way for dealing with your debt problems. In a debt settlement program, by negotiating with a creditor, a client can reduce their debt by as much as 50 percent and be debt free in as little as 12 to 36 months. Debt settlement is a great solution for consumers feeling overwhelmed with credit card debt that find themselves either falling behind on their payments or just able to afford the minimums. Considering the savings, in most cases it's worth doing if you find yourself in any of the aforementioned situations. As with any debt solution, however, there are potential downsides to debt settlement that should always be considered prior to enrollment. First, debt settlement may have an adverse impact on your credit, particularly while you're in the program. **End Summary** Topics: Fast debt relief]]> Texas debt settlement]]> California debt settlement]]>]]> About the Author: ]]> Robert Zangrilli is a debt consultant at Franklin Debt Relief, LLC in Chicago, Illinois. FDR is one of the nation"'s leading provider of debt settlement for credit card debt, but FDR specializes in tailoring specific programs for Texas debt settlement clients.

Credit Factors to Consider before Using a Debt Negotiation Company?

Thu, 19 Apr 2007 00:00:00 -0400

A relatively new approach to debt resolution, debt settlement or debt negotiation is the process of negotiating with creditors to lower the amount that you owe, typically by as much as 50 to 60 percent. A settlement offer is only attractive to a creditor when a consumer is behind on their payments. The reason why this is the case is that statistically a past due debtor is far more likely to either 1) file bankruptcy; 2) never pay the creditor at all; or 3) cost so much money in any collection efforts that a settlement offer is more profitable for the creditor. The financial incentive of debt settlement is clear for the consumer: you are able to cut your balance in half and presumably eliminate interest altogether. The main downside is that since you have to be past due in order for a settlement to be reached your credit will most likely suffer. ¢ Debt Settlement and Consumers with Good Credit: The impact should be pretty significant, particularly in the short-term. **End Summary** Topics: Fast debt relief]]> Texas debt settlement]]> California debt settlement]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief. FDR offers debt relief help for consumers with credit card and other unsecured debt. FDR is a leading provider of services to reduce debt through credit card debt negotiation .

Things You Probably Don't Know Affect Your Credit

Wed, 07 Mar 2007 00:00:00 -0500

As one would expect, the most important causes of credit success or failure will always be payment history and total debt owed. Although together these factors account for about 65 percent of your credit, there are several other aspects of your credit report that lenders look at to determine your credit-worthiness. Many of these factors are not obvious even to the most intuitive of minds. Here are 5 of the most overlooked factors that influence your credit.1. The number of recent inquiries on your credit report. To most people this is not self-evident, but to lenders it makes perfect sense. If you have a lot of recent inquiries from lenders who are looking to determine your credit worthiness, then chances are you may be overextended and short of cash. 2. The proportion of your balances to their credit lines. If you're maxed out on your credit cards, then lenders may consider it a sign of one of three things: a) you're overextended and relying on your credit to make ends meet; b) you're addicted to credit and overuse your credit lines; or c) both. 3. Closing credit card accounts. **End Summary** Topics: Credit card debt settlement]]> Debt settlement company]]> Debt relief]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief. FDR's "New Deal" program is able to reduce the amount that clients owe through personal debt settlement and consumer debt negotiation .

The Tax Implications of Debt Settlement and Why Chances Are You Shouldn't Care

Wed, 07 Mar 2007 00:00:00 -0500

(The author of this article is not a tax attorney, CPA, or enrolled agent, and this is not to be considered tax advice. If you need tax advice, you should consult someone who is certified in this arena.Did you hear about Bill Gates? He decided to give away all his shares of Microsoft and start working at a car wash in Seattle. When Larry King asked him why he decided to do it, Gates admitted that he was losing too much money on the taxes. You see---by making $7 an hour, he would be in the lowest tax bracket, and if he could manage to make less than $19,000 a year, then he would not have to pay any taxes at all! Back when he was making a $1 billion annually, he was left with $500 million after taxes every year. So Gates thinks he can make more money this way. As preposterous as the above example sounds, it's exactly the same logic employed by consumers who fear the tax implications of debt settlement. For one, most people enrolled in debt negotiation programs don't have to pay taxes on their savings as is (more on this later). **End Summary** Topics: Debt settlement]]> Debt reduction]]> Debt relief]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief. Franklin Debt Relief is a leading provider of services to settle debt for consumers with bad debt from credit cards seeking a fast debt relief solution.

The Credit Implications of Paying the Minimums on Credit Cards

Wed, 07 Mar 2007 00:00:00 -0500

One thing that has always boggled my mind about the America education system is that we don't have mandatory classes on credit. Think about it. Chances are for 99% of our population that high school Chemistry class they took in 11th grade turned out to be pretty useless in their adult lives. In no way am I advocating that we drop Chemistry from our curriculums, but it's completely unreasonable that we cannot find the funding or space for a mandatory course on credit. To be honest, it's the one thing that's useful for us all---from the chemist to P.E. instructor---and when you factor in that banks are increasingly targeting 18 year old college kids with credit card solicitations, it makes even more sense to educate the younger population about the appropriate use of credit. The most common misconception about credit is that the only thing that matters is your credit history---whether you've made payments on time and fulfilled your financial obligations in a timely manner. Sure your payment history is important, but it still only composes just over one-third of your credit score. Moreover, your payment history is only reflected in your credit score. **End Summary** Topics: Debt settlement]]> Debt reduction]]> Debt relief]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief. FDR's "New Deal" program is aimed at providing credit card debt settlement programs and services for consumers who are seeking ways to avoid filing bankruptcy .

Secured Debt Consolidation

Sat, 17 Feb 2007 00:00:00 -0500

If you have equity in your home and you're overextended with credit card debt with high interest rates, then it would be foolish for you not to consider taking out a home equity loan. After all, it's probably the only sensible financial product out there that can lower your debt without affecting your credit. In general, if it is available to you, then you may want to use a home equity loan to ease your debt burden before anything else, including debt settlement consolidation. Like most things, however, there are downsides to getting a home equity loan or refinancing your mortgage that must be considered before choosing a solution that's appropriate to your individual situation. 1. Bear in mind the possibility of foreclosure. If it's even a question whether you'll be able to afford the monthly payment on your debt consolidation loan, then avoid it at all costs. By securing the loan with your property, you could be risking your home when wide array of options are already available to you. **End Summary** Topics: Fast debt relief]]> Texas debt settlement]]> California debt settlement]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief. FDR specializes in debt settlement consolidation where a client takes out a second mortgage and uses it to fund their debt settlement program . Clients who do this are able to reduce their load by up to 40 percent and become debt free with credit card.

Debt Relief for the Elderly and Disabled

Sat, 17 Feb 2007 00:00:00 -0500

(Note: this is not to be considered legal advice, and it is dealing with the hypothetical average elderly and/or disabled person. Each case is unique and to determine the legal ramifications of your individual scenario you should consult an attorney.) Debt settlement, also known as debt negotiation or debt reduction, is a relatively new way for dealing with your debt problems. In a debt settlement program, by negotiating with a creditor, a client can reduce their debt by as much as 50 percent and be debt free in as little as 12 months. In order to accomplish these savings, however, a client must voluntarily stop paying their creditors. By doing this, a creditor is forced to confront the following question: How can I collect the most money from this past due debtor with the least amount of effort and the least total expense to my company? Typically the answer to this question in the minds' of creditors is accepting a lump sum settlement for less than the full balance owed. **End Summary** Topics: Bankruptcy alternative]]> Debt negotiation]]> Debt settlement]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief in Chicago, Illinois. Clients of FDR's "New Deal" debt relief program are able to reduce their monthly payment and debt by up to 50 percent. FDR is a leader in credit card debt reduction .

Credit Counseling Vs. Debt Settlement

Sat, 17 Feb 2007 00:00:00 -0500

Credit counseling or debt settlement? While naturally Franklin Debt Relief is inclined to argue on behalf of debt settlement over credit counseling, we also recognize that it's impossible to declare which program is better because it depends on a number of variables that differ from individual to individual. The purpose of this article is break down which factors you should consider before choosing the appropriate option. 1. What can you afford? Credit counseling programs tend to be a lot more expensive than debt settlement programs. The reason is simple: credit counseling only produces results on the interest rates, whereas debt settlement is able to actually negotiate the amount you owe. Simply put, if you are in a true financial bind, then the clear choice for you should be debt settlement, and on a pure money saved basis, debt settlement will almost always be the answer. Although this is undoubtedly an important factor, it is not the only variable to consider before making a decision on which program is best for you. 2. What sort of credit impact can you tolerate? Some credit counselors out there will undoubtedly tout that their program doesn't affect your credit score negatively. **End Summary** Topics: Credit card debt relief]]> Debt negotiation]]> Avoid bankruptcy]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief FDR's "New Deal" debt settlement service is able to lower the debt amount and monthly payments of its clients by up to 50 percent. Franklin Debt Relief is a leading debt reduction company in Chicago, Illinois.

Will You Have to Pay Back the Debt Anyway?

Sat, 17 Feb 2007 00:00:00 -0500

The most widely held misconception about bankruptcy is that it's the debtor's version of the get out of jail free card in Monopoly. While most people know that bankruptcy affects your credit for 7 to 10 years, very few people know that it's possible that you'll have to pay back the debt anyway, even if you file a Chapter 7 straight bankruptcy. The formal definition of bankruptcy is a proceeding in federal court in which an insolvent debtor's assets are liquidated and the debtor is relieved of further liability. On the other hand, the commonplace definition of bankruptcy is probably the process of completely wiping out your debts for free. In the majority of cases, the latter definition may be appropriate, but in some scenarios, it's likely that even with bankruptcy, you'll still have to pay back at least a portion of the debt.So when is it likely that you'll have to pay back your debts? **End Summary** Topics: Credit card debt settlement]]> Debt settlement company]]> Debt relief]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief, LLC in Chicago, Illinois. FDR's "New Deal" program helps consumers avoid bankruptcy . FDR is a leading provider of bankruptcy alternatives .

Advice when Choosing a Bankruptcy Lawyer

Sat, 17 Feb 2007 00:00:00 -0500

1. First and foremost, ask yourself, Do I even need a bankruptcy lawyer to file my case? If your case is fairly straightforward, then chances are you can get a bankruptcy petition preparer to file your case for much less than the cost of hiring a lawyer. Despite popular conception, bankruptcy law is not very complicated, so hiring an expert most of the times does not make sense. The real question then becomes, How complicated is my case? In short, if a) you have 100 percent unsecured debt (credit cards, medical bills, personal loans, repossessions, etc.); b) you're unemployed with no assets (car, home, brokerage accounts, etc.) and c) you did not accumulate the debt very recently or in any way that can be construed as fraudulent (i.e. buying a big screen TV on a credit card a month before you filed) then you may not need a bankruptcy lawyer to file your case.2. If your case is more complicated, then will you receive the sort of personal attention that you deserve in order to have your case properly handled? **End Summary** Topics: Bankruptcy]]> Avoid Bankruptcy]]>]]> About the Author: ]]> Robert Zangrilli is the CEO of Franklin Debt Relief. FDR's "New Deal" program is a leading bankruptcy alternative for consumers with overwhelming consumer debt. Visit Franklin Debt Relief's website for tips on how to avoid bankruptcy .