Debt Settlement – Are You the One Holding the Red Flag?

Gain Your Clients’ Ongoing Trust With No Monthly Service Fees Or Are You The One Holding The Red Flag?

If your core business is mortgage services, loan modification, credit repair, or if you’re an attorney, accountant or adviser just offering debt settlement to your clients because it’s in vogue right now, be sure to preserve your reputation by not offering debt settlement with extra monthly maintenance fees or service fees.

It’s so gauche (adjective: lacking social grace, sensitivity and tact), and it can really make you look like you steal money for a living from people who are already down on their luck.”

In fact, by presenting debt settlement to your client as a suitable option, you will more likely gain their business and ongoing trust by explaining that you want their ongoing business (mortgage, credit repair, real estate services, etc.), and this is just one way you are looking out for them. Out of the gate, you’re advising them that you will save them the $1,800 they would have spent with any other debt settlement company.

Let’s face it, it’s hard enough to get a client, and this is a perfect opportunity to build a relationship whereby you can now add them to your core business services.

Your customer acquisition cost of attaining this new client lessens with every new service you bring them and when they successfully complete the next service you have to offer them.

This cost-conscious mentality provides you with a self-propagating business after a while; clients are now calling in, referring your business to friends and family… it’s where you want to be.

This is all common sense, but what isn’t common sense is throwing your own reputation under a bus by working with a debt settlement company that charges your clients monthly service fees and monthly maintenance fees. Ironically, you’re not even getting compensation (or very little of it) from these unnecessary fees, but you sure have a whole lot more explaining to do; specifically, “full disclosure” to your client that these extra monthly junk fees add up to 7% or higher, bringing their overall cost to settle their debt to not 15%, but 22%.

Here’s the play: “Mr. Smith – It looks like debt settlement is your best option… and certainly many others have said the same; but I’m fairly sure no one has come to you, stating upfront that just like every other debt settlement company, we’re going to settle your debt for a fee of 15%, but we are not going to charge you any monthly service fees, which generally add up to an additional $1,800 that you would have to pay another company.”

Time and time again, a new industry pops up, times are rough, and you just “want” there to be success in another business model. However, this is not the time to be taking short cuts in life and getting caught up so quickly in the hype. Slow down and realize that if you are charging your clients monthly service fees or maintenance fees, they’re paying significantly more money, and the program you’re recommending begins to not make sense.

When your service begins to not make sense, you are then the one holding the red flag!

More importantly, when you work with a proper debt settlement company that doesn’t charge your/their clients these monthly service fees, you are likely to find your prospective clients reacting far differently than if you are only equipped with the same old pitch every other debt settlement company in the industry has.

What makes your debt settlement office different? What prevailing characteristics really give your debt settlement agents a competitive edge?

It’s factual and it’s proven that if you present your clients with debt settlement, accentuating the hidden value that only your company has to offer as a debt settlement company with no maintenance fees, service fees, zero “add-ons”, your agents will close more deals every month. What do you think? Do you want to close more deals?

Immediately, you will get referrals, and people will drop out of one program and switch to yours. The positive results of offering debt settlement with no monthly fees are immeasurable.

You can now recruit more professional and well-spoken phone pros that can close 2 to 3 deals a day with the right program to offer. Furthermore, you can now paint a bigger picture for these more advanced phone sales agents, as they now have the opportunity to build a rapport with each client making it easier to introduce the next product or service.

The results are immediate and have the power to rejuvenate your entire board room of agents. Furthermore, you can start thinking about how to introduce your client to another service, now that you have earned their trust.

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