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noladog2008 · Posted: Sun Apr 13, 2008 2:13 pm Subject: Settled Debt as PAID IN FULL????

Has anyone dealt with Emilio Francisco and the debt reduction Law Center? They claim--in writing, via email--that the difference between them and other debt settlement companies is that they will have creditors mark settled debts as "paid in full" or "satisfied" rather than "settled" as is standard with most companies.

This sounds to good to be true. What do you guys think?

Posted: Sun Apr 13, 2008 6:29 pm Subject:

I think that it would be impossible to claim that on a 100% level. One of the clients my company worked for would never budge from reporting debts as a settlement if they were settlements and it is one of the largest creditors out there. I'd say this company is full of doggie doo.

Posted: Sun Apr 13, 2008 6:39 pm Subject:

I agree that they are offering up a pile of BS too.

Guest · Posted: Wed Apr 16, 2008 1:46 am Subject:

first of all, the only time a settled debt can be reported as paid in full is when the settlement is performed directly with a bank. No collector can negotiate how the account is reported.

second, there are very few banks who will even negotiate the reporting of a settled account and those very few who will negotiate the reporting will only report paid in full on accounts settled for 80-90% and the only reason why they would negotiate this is by reducing the interest and penalties from when you fell behind hence the 80-90% settlement and this is only possible for accounts that are not already charged off.

that said, emilio whoever and the rest of the clowns with law degrees are full of BS.

cushman82879 · Posted: Thu May 08, 2008 5:34 pm Subject: It Works!!!!!

I have been working with this law firm for 2 years now and they have settled my debts for 40-50% of the balance owed on each account. I had 8 accounts at 45K xxxx if you have any questions. They really do know what they are doing..email removed for your safety..Bossy4455

Posted: Fri May 09, 2008 5:42 am Subject:

If you don't mind cushman what type of fees do they charge?

Posted: Fri May 09, 2008 6:09 am Subject: Another guest?

Guys, don't believe anyone posting as a guest. 99.9% of the time they are just the company itself in question.
Evil or Very Mad

Posted: Fri May 09, 2008 8:26 am Subject:

I just looked them up on the BBB. Man they are awesome, so awesome in fact that they have a big fat F rating !!!! Run Away

Posted: Sat Jun 07, 2008 5:43 am Subject: It is a good program

In reply to the last post, I am now a member, all I know is that I am currently using Emilio Francisco and they have taken care of my accounts and I have only had to settle for 40-50% of what I owed. My credit report reflects these accounts as "paid in full" I would be happy to show anyone interested my results.

Posted: Tue Jun 10, 2008 12:25 pm Subject:

I am not sure how our companies promised to report but I just pulled credit reports this week and one that we had settled a large account with is listed as "Paid as agreed". Is that normal?