The average consumer just doesn’t believe this is the way it is. But…it is.

Thanks for reinforcing the look inside the debt settlement marketing practices.

Steve

You are providing an insightful window into a dirty little secret of the Debt Settlement industry. Do you notice anything in that Press Release about helping consumers? Anything about trying to match up consumers to programs that will best fit their needs? Nope, its all about selling consumers to the highest bidder.

Folks, if you are unfamiliar with how this works for most of these ads you hear on the radio and see on TV. Usually, the spot is purchased by a lead provider. So when you call in looking for help, you get an inbound telemarketer. They ask a couple of questions and then send you off to the debt settlement company that is willing to PAY THE MOST amount of money to get you.

Notice they are talking 50 or 60 dollars to talk to you. I have seen companies advertise live transfer leads from TV for over 100 bucks. So when you call into that Ad, some company shelled out a lot of money to talk to you, plus they have to pay the telemarketer, oops, did I say telemarketer, that isn’t PC. What I meant was “Executive Certified Financial Consultant.”

Ya no kidding. I did a consult the other day and my client mentioned she had just sat through a sales pitch from an Executive Certified Financial Consultant over at xyz settlement company. Lord knows I tried to hold it in, but I just busted out laughing when I heard that. You really have to hand it to these guys for keeping a straight face when they tell people this stuff.

Basically the job of the Executive Certified Financial Consultant (I love that) is to sell you the program. Heck they just spent 100 bucks to talk to you, so by golly they better sell their butts off. What if they can only convince 1 in every 10 callers to sign up into their program. Wow, that would be 1000 dollars, just for the leads, not to mention the daily pay for the Executive Certified Financial Consultant. You know, with a title like that, they must command huge money.

Now they also still have to pay for their overhead, their fancy tele-marking inbound phone and computer lines. Wow, before you know it, this company is spending 2,000 dollars just to sign up a client. Well they have to make profit, you know, so another 1,000 there. Wow that is 3,000 bucks just to sign you up. Hey that’s no problem, the consumer is picking up the tab.
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