On May 20th a new client retained my services to negotiate a discounted out-of-court settlement on his company's behalf based on an email I had sent him. His business had been sued by an insurance company that had provided worker's compensation insurance. My client had not paid premiums as billed and was sued for $10,251.
That same day I sent a low-ball settlement offer to the creditor's attorney. Within a day, I received a response declining the offer along with information indicating the attorney would be taking the following week off and granting an extension to the answer date on the lawsuit.
By the way, this creditor files many lawsuits for similar situations in my area on a regular basis. I have dealt with their attorney often over the years and I am familiar with her general guidelines for most settlements. She, in turn, knows that I can be trusted and that I can typically assist in arriving at acceptable settlement terms. My involvement saves her some time and effort with these cases.
Upon the attorney's return from vacation, I sent another offer for a little higher total dollar amount and she quickly countered with the least she would be willing to accept.
I informed my client of the final proposed settlement terms on June 15th and he accepted on June 16th. I received payment for my fee in the amount of $500 today, June 18th.
Within 4 weeks (it would have been shorter if not for the attorney's vacation) I had landed a client and completed a very favorable out-of-court settlement on their behalf... and deposited a check for a nice fee... all with about 3 or 4 quick emails.
In this case, I saved my client $2,251 on the debt PLUS over $3,400 in potential attorney's fees that could have been awarded to the creditor's /plaintiff's attorney. In addition, the settlement was set up on a no interest payment plan over 11 months. ALL parties benefited.
Keep in mind, this is just an average case generating an average fee... and I work these cases all the time.
My complete commercial debt resolution Business Plan System will show you how to do the same thing.
Scott F. Soape
That same day I sent a low-ball settlement offer to the creditor's attorney. Within a day, I received a response declining the offer along with information indicating the attorney would be taking the following week off and granting an extension to the answer date on the lawsuit.
By the way, this creditor files many lawsuits for similar situations in my area on a regular basis. I have dealt with their attorney often over the years and I am familiar with her general guidelines for most settlements. She, in turn, knows that I can be trusted and that I can typically assist in arriving at acceptable settlement terms. My involvement saves her some time and effort with these cases.
Upon the attorney's return from vacation, I sent another offer for a little higher total dollar amount and she quickly countered with the least she would be willing to accept.
I informed my client of the final proposed settlement terms on June 15th and he accepted on June 16th. I received payment for my fee in the amount of $500 today, June 18th.
Within 4 weeks (it would have been shorter if not for the attorney's vacation) I had landed a client and completed a very favorable out-of-court settlement on their behalf... and deposited a check for a nice fee... all with about 3 or 4 quick emails.
In this case, I saved my client $2,251 on the debt PLUS over $3,400 in potential attorney's fees that could have been awarded to the creditor's /plaintiff's attorney. In addition, the settlement was set up on a no interest payment plan over 11 months. ALL parties benefited.
Keep in mind, this is just an average case generating an average fee... and I work these cases all the time.
My complete commercial debt resolution Business Plan System will show you how to do the same thing.
Scott F. Soape
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