You said it yourself, most debt companies are a scam. So you're only crying because you can't continue to profit from it.
They brought it onto themselves and they deserve every bit of regulation thrown at them.
Need Debt Offers
- Thread starter mGrunin
- Start date
You said it yourself, most debt companies are a scam. So you're only crying because you can't continue to profit from it.
They brought it onto themselves and they deserve every bit of regulation thrown at them.
Debt settlement companies get paid a % of debt settled over 12-36 months. Their general cost per acquisition is $250-600 depending on the medium and phone sales ability. This means they were allready "floating" the cost needed to generate a sale for at least 6 months to pay the CPA. Now they will have to float it for 18 months or whenever they actually get the client to pay off the settled debt.
As an aggregater and distributor of debt leads myself, I stand a lot to lose from this bill - but anyone who knows credit repair knows that paying off bad debts actually hurts your credit and restarts the 7 year clock. May as well just not pay it. Of course the government wont tell you this, and everyone is making money off of a horrible product, including myself, while these companies just steal peoples money - when these people would be better served by BK or just waiting 7 years. So its better they are getting "regulated" - they are just going to put any company out of biz who cant float and those companies who do, will have something to lose.
Time to make some money - The clock is ticking!
And anyone who voted for McCain instead of Obama is bonkers. McCain looked like Uncle Fester......."Myyyy Frrrrieeends"
As an aggregater and distributor of debt leads myself, I stand a lot to lose from this bill - but anyone who knows credit repair knows that paying off bad debts actually hurts your credit and restarts the 7 year clock. May as well just not pay it. Of course the government wont tell you this, and everyone is making money off of a horrible product, including myself, while these companies just steal peoples money - when these people would be better served by BK or just waiting 7 years. So its better they are getting "regulated" - they are just going to put any company out of biz who cant float and those companies who do, will have something to lose.
Time to make some money - The clock is ticking!
And anyone who voted for McCain instead of Obama is bonkers. McCain looked like Uncle Fester......."Myyyy Frrrrieeends"
Unfortunately that's what happens pretty much with governments everywhere in the world, specially where center-left parties rule.
When cases like this are made public, the quick solution is to overreact and make broad generalizations without individual analysis. It's an easy and fast way to appease public opinion.
Most of the companies are not sweating it anymore, injunctions or outright suits will push this back very far. A lot of the debt companies are currently doing the lawyer model, and have had a good look at it, and their are lots of loop holes they will capitalize on for this if it ever does pass. TASC and USOBA will fight it and delay it big time, and all current deals will be grandfathered in.
BTW I own a branch of a large national network of attorneys that fully represent each debt settlement client, so you are selling direct.
Anyone interested in speaking in regards to debt.
If anyone is interested in speaking to me in regards to current changes in the debt space feel free to IM me. There are loops holes in the ruling and there are also other alternatives. BTW if you were on any of the TASC or USOBA calls they have decide it best to not fight the ruling.
Regards,
If anyone is interested in speaking to me in regards to current changes in the debt space feel free to IM me. There are loops holes in the ruling and there are also other alternatives. BTW if you were on any of the TASC or USOBA calls they have decide it best to not fight the ruling.
Regards,