This came in through the reader question section of the site but I thought debt relief industry readers would have a lot to share to help Doyle by putting in in the industry section. I’ll leave this one for everyone to offer their feedback and advice to help Doyle.
I just came across your site and I love it! What a neat idea!
I will get right to the point…
I want to start helping people settle thier debts. Yes, I want to start a debt settlement company. I actually have spent most of the last 7 years working with in some form or fashion in money management and so I do have quite a bit of experience with consumer debt issuses.
In the past though, I have mainly worked as sales reps for other companies. I had to learn first hand about all of the bad pactices, gotchas, and just plain crooked debt settlement companies and other financial products on the market.
Anyway, after getting fed up with with eveything I quit the financial services business in early 2009 and have since been back into construction and working for an environmental firm. I currently make $60K a year at my job, but I am working 70-80 hours per week and am out of town 4-5 days per week. I don’t like this situation and neither does my wife and kids!
Anyway, I have decided that it’s time to go back to doing what I love. (helping people get on track fanancially) Except, this time, I am going to create my own program. I am open to suggestions as to how to structure the fees, but what I am thinking at this point is to have a small monthly fee and then charge a backend performance fee based on the amount saved, charged after each debt is negotiated.
Anyway… there is no way I am going to over everything you would need to know about me in a breif email. I would like to continue furthur dicussion with you about this. I will be happy to go into furthur detail about my background and experience, show you debts that I settled, and what ever you would like to know.
So I have two basic questions for you.
1) Do you have any suggestions for me? Fee structure models that work?
2) Would you be willing to refer people to me? [Sorry, no.]
I am sure that you know as well as I do that most people can settle thier own debts, especially with the education that you provide on your website and other good books and information. The problem is that not everyone WANTS to settle thier own debts. Thier are many people out there that would prefer to pay someone else to do it for them, just the same way that many people would prefer to pay someone else to change the oil in their car.
I am asking if you would consider referring those people that come to you, specifically asking for someone to do it for them. Obviously, you would need to know much more about me in order to do this.
One other note is that I want to intentionally grow this business SLOWLY. I have a good job and don’t need the money to support my family right now. (Although I expect it to in the future) I only want to start with a few clients and add on as I have the time to take care of them. Happy customers are the best advertising! So this would be you trying me out as well. I would want to prove my value to you slowly as well and in the future we may be talking bigger things.
I look forward to your reponse and I hope we can conrinue discussing this!
I can always use your help. If you have a tip or information you want to share, you can get it to me confidentially if you click here.