Credit Card Debt Settlement Company CEO Warns of Misleading Ads
Frequent news reports about fraudulent or ineffective credit card debt settlement companies have provoked strong reaction from legitimate, professional debt negotiators. Consumers in significant credit card debt can choose to pursue debt reduction or settlement options on their own, or they can call upon experienced negotiators who understand how to reach fair deals. Some established debt settlement professionals worry that overheated television and radio ads could give prospective clients unrealistic expectations about what they can achieve from a settlement.

Robert Zangrilli, CEO of Chicago-based Franklin Debt Relief, commented on his company's website denouncing misleading advertisements like the "Debt Crisis in America" series running on cable and satellite television networks. The ads, produced in the style of a cable news bulletin, imply that federal bailout programs can provide $10,000 or more in government assistance to Americans in credit card debt, when so such program exists. "Most of the consumers we're talking to are smart enough to realize what is going on, but I fear their may be other consumers who are falling for this stuff," Zangrilli said.

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Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.