An awesome tipster (send in your tips here) sent this to me recently. What’s your take on this not being fee splitting or landing people into trouble?
I was intrigued by the statement:
3rd Party Debt Buyer takes the chance by re-writing the clients loan without even having to have the credit to qualify (Basically giving the client the chance to consolidate their debts plus the fees which they never would qualify if they were to go to the bank or lender).
Personally I’d love to see proof that debt is being purchased in such a way.
I’m also confused by the conflicting statements:
3rd Party Debt Buyer will “not report” New Debt Restructure Loan to CBR’s unless client “Defaults”. These increasing the clients FICO score even more once each creditor is paid. If they were to report the client would have a New Maxed out Loan bringing their debt to ratio down.
As accounts are being purchased by 3rd Party Debt Buyer they will be reporting them as satisfied in full or paid. Allowing the client to increase their FICO score once again within 12 months.
If I’m reading this plan correctly, if the debt restructure program delivers a client that does not get sued through the process or uses any of the “legal” services the agent will probably have to refund all of the advanced commissions they have received on that client since the client would get a full refund. The plan says “If Client never gets sued or uses any of the Legal Package they are refunded 100% back at end of program,” and it says, “The 3rd Party Debt Buyer pays out or fronts 100% of the commissions within 12 months after the legal package has been paid for.” There is also the curious statement, “Affiliate is now advanced their 9-11% commissions per account, as long as, there have been funds saved in their trust account. This is based on how long Affiliate Sales Rep allows or extends the client to pay Legal Package.” – Source
Good Morning Affiliates or Potential Affiliates,
I would like to follow up to see what types of questions you may have. I have attached a thorough detailed description of how our Debt Restructure Program works. Our Program is designed to give the client the service they have been looking without qualify credit wise. In addition keeping us and our Affiliates and Potential Affiliates 100% complaint by restructuring the clients debts and providing Legal Services if need.
I look forward to working with you.
The Attorney Network
The Attorney Network Pitch
I’d love your feedback on this offer and if you think this approach is complaint with the rules and regulations of debt relief.
Post your comments below.
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