Franklin Debt Relief Completion Rates Outperform Industry Averages

May 25, 2010 - PRLog -- When a consumer enrolls in a debt management plan whether it be Chapter 13 bankruptcy, credit counseling or a debt negotiation plan, there can be many obstacles that may occur which can cause a consumer to not finish a program.
   After reviewing every enrolled client since 2006 Franklin is please to find that it has a 58 percent completion rate compared to The Association of Settlement Companies (TASC) average of 34.5 percent.  Franklin’s is considering a completion as 100 percent of accounts settled, the TASC completion rate is only 70% of accounts settled.  Franklin’s COO, Steven Van Note, said that although Franklin is a proud member of TASC he feels that Franklin holds itself to a higher standard.
   “In our program,” Van Note said.  “We are dealing with consumers in severe financial hardships from divorce to serious medical problems.  When someone is in such a tight situation the probability of them having another instance occur where they can not continue in a program can be high.  It should be noted when considering these numbers that the debt settlement industry average of 34.5 percent is higher than the success rates of both credit counseling and Chapter 13 bankruptcy.”
   Van Note said that because his customer service reps are accessible and solution orientated, they are able to work with clients to overcome financial obstacles.  He said other programs are not looking at the big picture which is reducing consumers total unsecured debt amount, companies focus on the month to month and often times decisions can be too fee orientated.
   “Clients are going to trip up along the way,” Van Note said.  “If they miss a payment because their brakes went out or the water heater busted, we will work to postpone payments so that the client can afford to fix those issues and then get back on track for resolving their debt.  If a client can no longer work because of a severe medical issue, well then it is unlikely we can continue to help that client and perhaps they should seek advice from a bankruptcy attorney.”
   Van Note said other debt settlement companies and credit counseling companies alike do not offer enough support for financially distressed clients.  He said the key to increasing completion rates is from working with clients through the rough patches to ensure a successful program in the end.
   Brendan O’Connor, Franklin’s Affiliate Manager, said that he is glad that the customer support offered by Franklin allows his client companies a certain peace of mind.
   “It goes a long way when a sales force is confident in the product they sell,” O’Connor said.  “Not only do our affiliates feel good about helping consumers, but the clients they enroll are more likely to payout a greater amount of fees than the average company in our industry.”
   O’Connor said a consumer should look to find information on Franklin’s debt program at http://www.franklindebtrelief.com, and businesses looking to become an affiliate debt settlement company should visit http://www.backenddebt.com/ for information.
   “Finding the right backend debt settlement processing company can be difficult because there is a lot at stake including time, money and hard work,” O’Connor said.  “I think if a company went to our website http://www.backenddebt.com/ they would find a lot of valuable information whether they are thinking about entering the debt settlement industry or simply changing backend providers.”

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