SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Frankin Credit Management Corporation
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
353487101
(CUSIP Number)
Check the following box if a fee is being paid with this statement |X|.
Page 1 of 7 Pages
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SCHEDULE 13G
CUSIP No. Page 2 of 7 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vincent A. Merola
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
5) SOLE VOTING POWER
295,938 shares of Common Stock
-------------------------------------------------
NUMBER
OF 6) SHARED VOTING POWER
SHARES Not Applicable
BENEFICIALLY -------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH 295,938 shares of Common Stock
REPORTING -------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH Not Applicable
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
295,938 shares of Common Stock, $.01 par value
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.4%
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12) TYPE OF REPORTING PERSON
IN
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Schedule 13G
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ITEM 1(A). NAME OF ISSUER:
Franklin Credit Management Corporation (the "Company")
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
Six Harrison Street, New York, New York 10013
ITEM 2(A). NAME OF PERSON FILING:
Vincent A. Merola
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The principal business office of Vincent A. Merola is Six Harrison
Street, New York, New York 10013.
ITEM 2(C). CITIZENSHIP:
United States of America
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 par value (the "Common Stock")
ITEM 2(E). CUSIP NUMBER: 353487101
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING IS A:
Not applicable
ITEM 4. OWNERSHIP.
Vincent A. Merola:
(a) Amount beneficially owned: 295,938 shares of Common Stock
(b) percent of class: 5.4%(1)
(c) Number of shares as to which such person has:
- --------
(1) Based upon approximately 5,520,121 shares of Common Stock reported to
be outstanding on July 12, 1996.
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(i) Sole power to vote or to direct the vote: 295,938 shares
of Common Stock
(ii) Shared power to vote or to direct the vote: Not
applicable
(iii) Sole power to dispose or to direct the disposition of:
295,938 shares of Common Stock
(iv) Shared power to dispose or to direct the disposition of:
Not applicable
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable
ITEM 10. CERTIFICATION.
Not applicable
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SIGNATURE
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After reasonable inquiry and to the best knowledge and belief of
the undersigned, the undersigned certifies that the information set forth in
this Statement is true, complete and correct.
Date: September 9, 1996
/s/ Vincent A. Merola
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Vincent A. Merola
