Julie Franchetti will offer a presentation on The Pitfalls of Debt – Understanding Your Debt and Resources Available to Help You at a Brown Bag Lunch at the Camden Public Library on Friday, July 22 at noon. The lunch is one of a monthly series of in-depth financial topics to help individuals plan investments and family budgets. The series is supported by a grant from FINRA, the nation’s financial regulatory agency.

Franchetti is the examiner-in-charge with the Maine Bureau of Consumer Credit Protection. Her responsibilities include overseeing the bureau and its 26 areas of credit regulation including mortgage companies. Prior to her present position, she spent nine years with the Maine Public Utilities Commission in Maine as a senior consumer assistance specialist.

Franchetti will cover topics that include what a debt management service provider (known to many as consumer credit counseling) can and cannot do; who’s licensed and who’s not; and what to look for and when to go to a debt management provider. She will also talk about the foreclosure process and options available to consumers, including information about Maine’s Foreclosure Prevention Program.

Participants will also have the opportunity to ask questions or discuss other topics of interest relating to debt management, including understanding a credit report, the risks of pay day loans, and protecting oneself from predatory lending.

The FINRA grant also enables the library to offer a newsletter on financial planning and related local events, and to offer Quicken Premier software. The Quicken package will be made available to all participants in the Brown Bag Lunch Series for free. The goal of the library is to create a financially literate community and to make online financial tools more accessible to library and community members.