Debt Relief Industry

I Wonder How They Are Getting Around Fee Splitting?

I’m in possession of an email sent out by Coast to Coast Financial Counseling that is promoting the huge big new opportunity for debt settlements affiliates, surprise…bankruptcy. Yes, you know that thing you’ve been selling against all this time, well guess what, the ugly girl you were making fun of is now your girlfriend.

Subject: Bankruptcy: Hitting a Home Run

The email says, “Why would you not leverage this additional revenue opportunity by simply re-directing all your DS program cancellations and initial leads that cannot afford DS to begin with, into the BK software?”

Compensation upon Filing: max $500 for Chapter 7
Compensation upon Filing: max $600 for Chapter 13

And, Student Loan is averaging $1295-$1495 in fees. Just ask the question during application period.

I’m a bit puzzled how this company can pay $500 upon a successful Chapter 7 bankruptcy filing and get around the whole attorney fee splitting issue, or have they?

I reached out to the sender of the email from Coast to Coast for clarification but by the time of publication they had not responded.

Sincerly,
Steve

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

6 Comments

  • Goes right along with my whole financial advice from a sales person beef. It is always bad if they don’t sell it, but if they do, then all the sudden it has wonderful benefits and features that all consumers should consider.

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