I just received the following tip but have no way to verify if it is true or factual. Can anyone add any additional information and either confirm or deny the statement? I want to make sure it is reported factually.
Hi Steve, I heard that legal helpers out of Illinois announced to all their processors and affiliates that they will no longer be paying them as of today. Hopefully you have some sources that can get you a copy of this letter.
Sincerly,
Steve
Steve
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In simple terms, they are keeping the $79 monthly fee and the full settlement fee. They split the retainer fees with the affiliates so that will remain unchanged. Maybe now someone will actually answer the phones over there?
So the income opportunity left is just the problematic legal fee sharing and the ongoing revenue for affiliates is no longer? That has to put affiliates out of business, don’t you think?
The only reason they would stop paying sales affiliates is if they stop taking on new enrollments. If I’m not mistaken, they are only getting rid of the back end support/negotiations not affiliate/sales
That is true. Word is that Legal Helpers will be servicing all clients directly through their law firm, no longer involving the debt settlement companies that had been servicing the LHDR clients up through last week.
How is this going to impact the servicers and their income moving forward?
Any supposition why LHDR might have done this?