Make Money--Debt Settlement

Discussion in 'New Member Introductions' started by dan1980, Aug 26, 2009.

  1. dan1980

    dan1980
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    I was at a point in my life where i lost my job, didnt have any money, etc. Recently through one of my good friends i started doing debt settlement. It sounded foreign and i had no experience in the industry. He got me trained and set up within a week and i have been closing deals ever since.I am not making a lot of money, but i get to work from home, make my own hours, and my costs for living are covered. I just wanted to share this information and hopefully it helps some of you out. Check out my website, scrippsconsultants.com and you can check out free information on what debt settlement is. Thanks guys and have a blessed day.
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum Dan, glad to hear that things are working out for you.
     
  3. Happy

    Happy
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    Congrats that you are returning to your normal condition again.I will surely like to visit your website.Till then BEST OF LUCK... :~)
     
  4. harismon

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    Congratulation wlith your succes to end your problem. You can share here the HOW TO.
     
  5. GekiDan

    GekiDan
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    You can definitely post your site's URL on your signature or post it to the Member's Ads Section so other members can see it and learn from your experiences.
    Anyways, welcome to BAF.
     
  6. seanstevens

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    As a Credit Manager I completely object to the debt settlement business and whenever it rears its ugly head I'll fight it all day long.

    That said, everyone has to make a living, so best of luck to you.
     
  7. Fergal

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    I'm not very familiar with debt settlement business, truth be told I thought it was similar to debt collection or credit management. We'd all prefer, expect and deserve to get full payment on our debts. But surely there are times when half a loaf is better than no bread and part payment is better than no payment? Why do you object to it so much Sean?
     
  8. seanstevens

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    I'd agree that there are times that part payment is better than no payment - if it is in the best interests of everybody concerned.

    The problem with debt settlement (and I speak generally, not all companies are the same and in extreme circumstances it has a place) is that when they get involved they work in a way that could be described as unethical. Telling consumers to ignore communications and not get involved in any sort of negotation with their credit provider. They aim to close the line of communication so that the credit provider gets to the point that they are desperate enough to take a part payment just to close the case. It's good for the consumer as they pay off part of the debt and walk away (albeit with a damaged credit history), the debt settlement company makes a slice, the credit provider thinks they have escaped a possible bad debt a writes of the balance. What the debt settlement company doesn't care about is the face that the credit provider may well miss it's internal goals and this in turn leads to job losses (I've seen it happen). It's the credit & collections team that get hit hard for missing goals and in some cases earn a lot less that the original consumer.

    What gets me more is the fact that if the consumer would swallow his/her pride and contact the credit provider (ask to speak to the credit manager, not just a telephone assistant) and you can do a deal direct that suits everyone. A good credit manager never wants to take legal action or be nasty to a customer - our job is to preserve business in order to grow the company. A good credit manager would work with the consumer directly and work out a suitable payment plan (personally, I'd rather get paid $10 a week over a year and have a happy consumer who in the future would come back to me than accept half my money and never see them again).

    Sean
     
  9. Fergal

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    Thanks for the excellent explanation Sean. So would it be true to say that debt settlement companies work for the company who owes the money and credit managers work on behalf of the company that is owed the money?
     
  10. seanstevens

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    That's corrrect Fergal.

    The debt settlement company works for the individual or company that owes money. The credit manager works for the company that is owed the cash.

    A good credit manager will always be willing to negotiate a debt if there is a valid reason, so if anyone finds that they are in a bad position owing debt, don't keep quiet about it, talk to them and they should help you.

    Just a note for Dan who started the thread. Good luck with the job, I hope you make a success of it, there will be plenty of people out there who will love your service.
     

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