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A reader and tipster (send in your tips here) in the debt settlement industry sent us an email they recently received from Performance Settlement, an AFCC member.
The email made some recruiting performance claims that should be a snap for Performance Settlement to respond to and verify.
This issue isn’t so much a consumer issue foremost but an issue to protect affiliates that might want to explore such a relationship. Does it hurt to verify the claims? Can that possibly hurt the industry?
The Recruitment Email
From: Kemper Elliot [mailto:performancesettlement@gmail.com]
Sent: Tuesday, October 29, 2013
Subject: 15 Reasons Why This is the Most Profitable Telephone Sales Service/Product Any Where!
No license for branch or individual required by sales affiliate (Parent Company supports All)
100% compliant licensed and bonded by each state and FTC compliant
Intake and Approval is all done electronically through PS robust software real time
Cash flow positive in 8 months
Average Pay per rep on above scenario is 7-10k monthly
Net Revenue per desk starting month one is 30k a month conservative
Average desk is only required to close 20 units a month to meet this goal
Cost per Acquisition Between 500-700 with Avg. Debt Load 30k plus being only metric
that must be met to achieve these goals
Total intake is 7 E-Signatures with full paperless technology
No other documentation required from sales affiliate other than E-Signature Doc’s
Once E-Signature is completed sales affiliate has completed their total function
Approval process is 100% completed by PS within 24 hours or less
No start up costs by sales affiliate as PS infrastructure handles everything
65k desk cost total per desk
100% of initial 65k investment paid back in 15 months
Call or E-Mail Performance Settlement Today!
CALL 888-249-1599
E-mail: sales@performancesettlement.com
Anyone See Any FTC or CFPB Issues?
Not wanting to influence debt relief readers I’d love for you to post your comments if you see any problematic claims made in the recruitment email above.
If Performance Settlement can backup their sales claims this might just be the best piece of free advertising they got for their recruitment efforts.
Performance Settlement Has Been Asked to Comment Here
I’ve reached out to the folks over at Performance Settlement and asked them to comment on this post and provide supporting documentation for their performance claims.
The Performance Settlement Website
Performance Settlement claims to be located at 4940 Campus Drive, Newport Beach, CA 92660. – Source
Performance Settlement is a registered California LLC and registered on August 27, 2013, Just two months ago. That makes me wonder how they have such a track record of sales affiliate performance claims if they are only about 60 days old?
The PerformanceSettlement.com was registered in July, 2013 and is registered to Daniel Crenshaw.
Performance Settlement is a member of AFCC. – Source
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A reader sent in a statement regarding this story. They said, “I looked at their link from your article, I don’t think the claims on this spreadsheet are compliant either. Shouldn’t their at least be more explanation and disclaimers.” http://www.performancesettlement.com/pscalc.xlsx
What do you think? Agree or disagree?
Disagree…. Google “how long will it take to pay off my credit card” or wealth accumulation at 8% and you will see pages and pages of similar calculators. It’s just a comparison chart, what part of these figures could possibly be misconstrued as not compliant?
Don’t know what the reader had in mind. Just passing it on. Maybe actual completion rates?
Did you have any issue with the solicitation message?
Cost per acquisition seems a little high and they payout is generous but I think it’s pretty accurate.
What I think speaks volumes though is the claim that 100% of initial 65k investment paid back in 15 months. That’s $65k per desk!! That’s quite an investment to have to wait 15 months just to break even. Those still critical of the remaining performance based settlement companies always seem to forget is that this is no longer an instant gratification business but rather a long term investment to build a successful company. I believe that weeds out the “fly by nights” that caused most of the damage in the past.