That’s right; I haven’t always been self-employed. Before becoming a full-time marketing genius, I worked on and off at different jobs and even had some success in network marketing. Before I started working as a debt consultant, I was busy building my currency trading business known as Global Currenciez (another topic for another time).
I came into the position with high hopes of earning a solid six-figure income as assured by the director of sales at the time. I was interviewed and hired immediately! I thought it was due to my charm and dressed for success attitude and persona, but I quickly came to find out they were willing to hire just anybody.
I’m not here to bash anyone, but when it comes to financial success and debt relief, there are many options out there. Over the span of six months, I surrounded myself with a plethora of information through vigorous research, which showed me that most consumers aren’t aware of their options or how to cope with these situations.
Although, how would they?
Most of the information out there and everything we were taught at a young age suggests otherwise. Go to school to get good grades, get good grades so you can go to college, go to college and get good grades so you can get a good job, and get a decent job so you can pay off all your college debt, somewhere along the way that became the American dream.
Working for Nationwide Debt Reduction Services paved the way for me to research the opposite side of the financial services spectrum. I was previous self-taught and working with investments and credit, and through this debt reduction company, I became self-taught on the debt side of things.
It was long after realizing that consumers can do debt settlement themselves in a process known as DIY debt settlement, instead of paying hefty fees such as 20-25% of the total debt owed. It became hard to consult/sell the services provided, knowing that people were ending up in the same situation, if not worse.
I opted for a change. Instead of being a debt consultant, I wanted to continue down my previous marketing path and offer debt settlement marketing to debt settlement companies and financial services agencies.
If it weren’t for being a debt consultant, I wouldn’t know how to approach debt settlement marketing, nor would I know exactly what most debt settlement providers need and are lacking. I came up with the idea of debt settlement leads and building beautiful debt relief websites that drive targeted traffic and convert them into enrollments. If I weren’t a debt consultant prior to starting this, I wouldn’t have known about debt relief companies being unable to charge fees upfront, which puts more of a strain on their finances and marketing budgets.
Knowing this information gave me much more of a competitive edge and the power to demand change. The days of debt settlement scams should be no more. Whether the Federal Trade Commission or Consumer Financial Protection Bureau steps up to eliminate shady and unethical debts settlement outfits, it will happen soon enough.
Do not get me wrong; negotiating creditor debt is authoritative information. If anything, consumers looking for debt settlement should be paying the government for such information to know it’s of high quality and more importantly that it’s legal and vetted and abides by every law/regulation. Having to pay for this information and do-it-yourself (DIY) would reduce the number of people who end up in debt yet again. Once you factor in the court costs, wage garnishments, property liens, tax liens/tax penalties, and debt settlement company fees, you’re right back in the same situation, if not worse.
Creditors are guilty just as you are guilty of overspending.
However, most consumers are not aware of how their interest rates can be raised without warning or cause the same way their credit limits could drop. Creditors have the power to ruin your credit and force financial hardship without any reason, and this is why the process of debt negotiation is legal.
Major creditors are willing to negotiate with you to pay back 30-40% and even as little as 20% in some cases. At the end of the day, that’s much better than getting nothing back at all and is more profitable than selling your account to collections. Most major creditors expect 70% of consumers to default on their credit lines (that’s the majority of credit holders). For this reason, there is a high likelihood that your credit has an insurance policy against it in the high chance you default, not to mention the tax break the creditor gets when you default on your loan or credit cards.
Creditors are expecting to profit regardless of if you pay them any interest or do not make a single payment. Working as a debt consultant taught me to be patient and willing to work with people, which is why I am whole-heartedly ready to put together a DIY debt settlement course that covers everything you need to know A-Z and more.