Expert Debt Settlement Attorney Program For Green States and Red States

However, now there are new FTC rulings and sure to come new legislation that appears to show a strong preference for the attorney-based debt resolution model, as opposed to the non-attorney debt settlement model. Well actually, the debt settlement industry and all those who are not affiliated with an attorney based debt resolution model are done, finished, and scrambling to the attorney model.

Obviously, an attorney has a license on the line during all representations of a client; however, a debt settlement affiliate has no accountability and little or no chance of being held responsible for recompense for their actions. the long and short of it is the traditional green state debt settlement model (down to 20 states) is a defunct model as of Oct. 27th 2010.

This is incredible considering that the loan modification companies, credit repair companies, mortgage offices, call centers and the like were just about to make life changing money, but no fear there’s always a plan b. Lead generation companies are scrambling for answers, as the demand for debt settlement leads must shift quickly to providing debt resolution leads.

The FTC Ruling states clearly, Debt-settlement companies will now only be able to charge a fee once a customers debt has been reduced, settled or renegotiated. the rule goes into effect Oct. 27. Ouch

An attorney has a fiduciary duty to a client, meaning they must always, first and foremost, have the clients best interest in mind. Of course, this is not the case at all for the non-attorney based model, and therefore it is abundantly clear the significant difference between the two versions based upon who has more to lose and keeping the client protected.

Now that you understand why it is so important to your business to align your company with attorney-based debt resolution, you must take note of a couple of crucial points:

Choose an attorney-based debt resolution alliance which has stood the test of time, catering to both industry veterans and to those who are new to the business.

Be always mindful of your cash flow Seasoned veterans of the business know it is critical to work with a company that has committed to commissions which are accelerated, being paid within the first 3 to 5 months. This is an essential element in holding off the costs incurred for leads and client acquisition, as well as your ability to pay commissions due to your representatives. Exhausting working capital is the single most influential reason that businesses go out of business.

Make arrangements for a training program for your sales force, as this is a dominant factor in the success of your representatives. Additionally, work with a company that offers an excellent, ongoing and comprehensive training course. Salespeople armed with the knowledge, confidence and interpersonal skills required will be successful. with competent debt resolution training, you will start to close a transaction each day, per agent. an office with 10 salespeople can be expected to close 200 deals a month.