Secret Shopper Debt Settlement Call. How Do You Think They Did?

Yesterday I made my first secret shopper call after the FTC TSR went fully into force. My vote of the call yesterday was a FAIL. You can read my comments on that call here.

So today I decided to call the exact same company back and confirm what the sales representative had told me yesterday. That didn’t happen. Today I was told a slightly different story on fees and how it works. If I understand it correctly, of the first 16 payments, 70% is held for fees that will be earned when debts are eventually settled.

If you listen to the call in the mindset of a scared and nervous consumer the way the service is explained becomes very confusing. In fact I’m not sure I totally understand what the fees were. Are they 33% or $12,000?

Even the math doesn’t add up. If the monthly payment is $814 and that includes the $84.95 monthly fee that leaves $729.05 that is split 70-30 or $510.33 in fees that’s deposited but 16 of those payments only equals $8,165.36 and not $12,000.

What seems more likely is the $84.95 is actually not included in the monthly payment as stated.

Listen to the call and post your observations and comments below.

Damon Day - Pro Debt Coach

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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.
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