Alan Franklin, a New Jersey entrepreneur and onetime American Express Co. strategist, is out to shake up the nation's credit counseling establishment.

Mr. Franklin has set up a counseling service in Trenton, N.J., that he says is bringing much-needed innovation to a business that many banks and other lenders view as a bulwark against consumer bankruptcies and chargeoffs.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.