PR and Marketing on a Budget

Providing a great commercial debt resolution service means nothing if nobody knows about it.  As the saying goes, it's kind of like winking in the dark... no one knows you're doing it.

A recent Inc. Magazine article provides some good tips for getting the word out without spending a lot.  Click the below link for this helpful information.

http://www.inc.com/murray-newlands/public-relations-tips-and-tricks-for-your-business.html

Scott F. Soape

Working From Home

Many folks that start in this profession begin their careers working from home.  I actually recommend this if a student does not already have an office just to keep expenses down during the start-up period.

A recent article form Inc. Magazine online provides some great tips.  Please click the link to read the entire article.

http://www.inc.com/kelsey-libert/8-tips-for-staying-productive-while-working-from-home.html

Scott F. Soape

A Recent Case

After a couple of phone conversations, a company owner retained my services to settle a pending lawsuit on October 27th.

Some professional aggressive negotiations on my part over the next two weeks with the creditor's attorney resulted in a 20% discount on the amount claimed, with the settlement payable over a 48 month term at 0% annual interest.  My client accepted the settlement on November 12th.

My client was pleased with the discount and manageable payment terms, the creditor is receiving money they may never have seen and I earned a nice $1,400 fee... all in only 16 days after starting negotiations.  As usual, EVERYONE won.

Scott F. Soape

Online Fax Alternatives

My office recently canceled our dedicated fax line and started using an online fax service.  Although there was some saving on the cost by moving to an online service, the primary reason was accessibility.

The online fax service notifies us via email whenever a fax is received so we can view the content even when away from the office.  Additionally, we avoid wasting ink and paper on the various spam faxes we receive each week.

There are several comparable services available but I chose to go with www.MyFax.com for our service.

The use of fax for business communications has declined over the years but there are still some folks that rely on this tool.  Making use of an online service is an excellent way to provide access to fax for your clients and business contacts without spending a lot of money on hardware and extra phone lines.

Please make note of my new fax number (888) 790-4196 for any future faxes to my office.

Scott F. Soape

The Year-End Flurry!

Here we go again!

The last quarter of each year is always a very busy time.  Creditors are scrambling to either collect or write-off past due accounts so they can clear their books for a new fiscal year.

You will no doubt notice more lawsuits being filed in your jurisdiction(s) so you may want to increase the frequency of your on-line or face-to-face courthouse case searches.

The closer we get to the new year, the more these filings will decrease so be sure you benefit from this year-end flurry of business!

Scott F. Soape

Perfecting Your Elevator Pitch

You will often have an opportunity to quickly tell someone a little about your unique service.  A recent article in the Austin Business Journal provides some great tips to ensure you communicate your message exactly right...

http://www.bizjournals.com/austin/how-to/growth-strategies/2014/09/6-secrets-to-perfecting-your-elevator-pitch.html

Scott F. Soape

Build Your Own Website

There are several options out there for creating a professional website for your business.  Since most of us are not proficient with web design, it is usually best to hire a professional.

A recent article in Inc. Magazine online provides some other alternatives for the do-it-yourselfer.  Please click the below link for the entire article:

http://www.inc.com/magazine/201210/john-brandon/4-easytouse-tools-for-building-websites.html

Scott F. Soape

Increasing Online Trust

Being in business for nearly 17 years with a squeaky clean record certainly helps instill trust in my firm.  However, it is still important to stay on top of current trends and recommended tactics on the Web to keep this trust going forward with folks shopping online for my Business Plan System, my Associate Program or my core service.

I am constantly updating my web presence to ensure my message is received as I intend.  And I never hesitate to invest in professional advice and assistance for these matters.

You need to be aware of the importance of setting up a trust worthy online identity with your own commercial debt resolution practice.

A recent article from Inc. Magazine provides 11 great suggestions.  Please click the below link to view the entire article:

http://www.inc.com/jayson-demers/11-simple-tactics-to-increase-trust-online.html

Scott F. Soape

Powerful Emails

I have spent a great deal of time and effort developing a very powerful and compelling Prospect Letter which I now use on a daily basis.  By enlisting expert advice and through systematic testing, I now have what I consider to be the perfect opening sales letter or email.  You will find a number of previous posts here with examples of its effectiveness.

Below is a link to an excellent article from Inc. Magazine's online edition that outlines how to write a great sales email.  I was struck by the similarities of the author's recommendations to those I am already using.

Please click on the link to view the entire article:

http://www.inc.com/geoffrey-james/how-to-write-a-killer-sales-email.html

All students of my commercial debt resolution Business Plan System are provided a sample of my Prospect Letter for use in building their own successful practices.

Scott F. Soape

More Repeat Business

While working a recent case for a client, the creditor's attorney (with whom I have dealt many times) informed me he was also pursuing another debt against my client for a different creditor.  He asked if I was also going to work that case and emailed me the information.

After a quick consultation with my client, I was retained to work the new case as well.  Fortunately, the attorney had not yet filed suit on this new case and we were able to agree upon a settlement amount without needing to take court filing costs into account.

You never know where new business will come from and a referral from a creditor's attorney is rare!  Even though I always ask my clients if they have any other problem debts they want me to work, they often wait until a lawsuit has been filed to hire me.  Catching these cases early can usually result in more favorable settlement terms for my clients.

Scott F. Soape

Creative Settlements

The majority of your settlements will be pretty simple and straight forward.  Either a monthly payment plan or a lump-sum single payment.

Occasionally, though, you will need to get a little creative with settlement offers.

One option is to offer a larger initial payment, or down payment, followed by smaller monthly installments.  Many creditors like this because it shows a bigger up-front commitment on the debtor's part.  It also puts more money in the creditor's pocket right away.

Another, option is to offer smaller monthly payments followed by a large balloon payment.  This works well whenever your client is expecting to be paid on a project at some point in the future.  Tying these expected revenues to a large final payment could be attractive to both parties.

Being able to come up with alternative payment options for your clients will solidify your position as a trusted and valuable consultant and help in settling all types of debts.

Scott F. Soape

My Powerful & Compelling Prospect Letter

Students of my commercial debt resolution Business Plan System are provided with sample letters for every type of correspondence they encounter in this profession.  The very first communication is contacting a prospective client.  Sometimes, this entails a quick phone call.  More often, it is in the form of a letter or email to a company owner.

My powerful and compelling Prospect Letter has been tested and refined over the years with the goal of quickly grabbing a business owner's attention and getting them to take action.

As an example, on the afternoon of May 23rd I emailed a business owner this letter after I had identified him as a qualified prospective client.  Within 30 minutes, he called me to discuss his case and agreed to retain my services by the end of the conversation!

I successfully settled this case less than 3 weeks later saving my client thousands of dollars on a 42 month payment plan at 0% APR while earning myself a $1,500 fee in the process.

There is no reason to take chances with this very important first contact you have with prospective clients.  By using my proven sample letters in all phases of your practice, you will see immediate results.

Scott F. Soape

Openning Offers

My complete commercial debt resolution Business Plan System details exactly how to initiate negotiations with a creditor or their agent.  I suggest that debt resolution professionals always start with a low-ball offer just to test the waters and leave plenty of room for further negotiations.

A recent article in Inc. Magazine's online edition supports my position.  Please click on the below link to see the entire article and the justifications for this strategy:

http://www.inc.com/drake-baer/why-you-should-always-make-first-offer-in-negotiation.html

Scott F. Soape

Follow-Up Service

Typically, once a settlement is finalized, it is up to the client to follow through with whatever payment arrangement has been made and our job is done.

Occasionally, though, clients will encounter further financial difficulties and have problems making a payment as planned.  I always offer to continue my service in communicating with the creditor or their agent when these situations arise.  All it usually takes is an email to the creditor notifying them of the expected late payment and the client's intention to make good as quickly as possible.

This is a small task but is always appreciated by both the client and the creditor.  It also helps to position you as a professional with the client's best interest at the top of your priorities.

Scott F. Soape

Non-Discounted Settlements

Every now and then you will encounter a creditor that is not willing to negotiate a debt and all you can work for your client is the payment term and interest rate.

I just finalized a settlement where the creditor was willing to discount the debt but they would not do business with my client in the future unless the compromised amount was paid.  Since my client wanted to continue business with this creditor, all I had to work with was the term and interest rate.

I was able to work out an acceptable payment arrangement for my client over a 2 year period at a 6% annual interest rate with no discount on the debt.

My fee ended up being for a $1,000 minimum amount which we agreed upon before negotiations began.  Had I been able to negotiate a discount, the fee would have been higher but it was still fair for both parties based on the outcome and the time and effort I put in.

Always be sure you set a minimum fee for any accepted settlements whether or not a discount is negotiated and all parties will benefit.

Scott F. Soape

Case Examples

I recently added a new page to my website providing 16 examples of actual cases I have successfully negotiated over the years.  These cases reflect a broad variety of clients, debts and settlements in an effort to show that every case I take on is different and, perhaps more importantly, that REAL results are possible.

Please visit my website at www.SFSoapeAssoc.com and click on the Cases tab so you will have an idea of what to expect with your own commercial debt resolution practice.

Scott F. Soape

Another Happy Client!

On February 14th my service was retained by a client whose company had been sued for a $21,148 debt plus attorney's fees of $7,250 and a few hundred dollars for court costs.

In just over 3 weeks, I was able to negotiate this entire amount down to only $10,200 TOTAL on a manageable monthly installment plan for my client.

This out-of-court settlement saved my client $10,948 (52%) on the original debt plus the $7,250 attorney fee for a total savings of over $18,000!

The end result was a happy client, a satisfied creditor and a nice fee for my successful negotiation.

Scott F. Soape

Emailing Prospects

I have had great success with emails to prospects instead of mailing letters.

I usually suggest that my students mail my powerful and compelling "Prospect Letter" to prospective clients, then follow up with a phone call a few days later if they have not been contacted by the prospect.  Obviously, by emailing this same letter, you greatly improve the speed of the process.

My complete commercial debt resolution Business Plan System provides a number of great web sites to research companies and their owners.  Often, there are email links given for principal parties.

The concern about sending emails is to ensure they are going to the right person.  My "Prospect Letter" contains details about the financial dispute that lower level employees may not be aware of and should not see.  If you are sure your email is going to the owner of the company or the named recipient on a lawsuit, this is not a problem.

However, many times the only email shown for a company is directed to "info@" and you never know who will see it.

For these situations, I have developed another version of my powerful and compelling original "Prospect Letter" that does not contain any sensitive information.  My tests have show this email letter to be very effective in getting a prospect's attention and encouraging action to contact my office.  A copy of this letter is available for any students upon request.

I encourage everyone to make use of email when contacting prospective clients in order to speed up the settlement process.  When you send the first email, I also suggest you request a "delivery receipt" and a "read receipt" through your email program before sending.  This way, you will know if the email is valid and you can choose whether or not send a letter via regular mail.

Be aware of sensitive information when contacting your prospects at all times and make use of emails to prospects whenever possible!

Scott F. Soape

An Average Case

After making a phone call on January 23rd to a company owner whose business had been sued, my service was retained the same day.

Only 2 weeks later, a settlement was reached today with the creditor's attorney.  Documents will need to be prepared, but I am sending a bill for my services in the meantime based on my client's acceptance of the settlement terms.

I expect to receive my fee in the amount of $1,200 soon.

This is about an average turn around time for settlement negotiations with a pending lawsuit and an imminent answer date deadline.  It is also about an average fee.

Of course, I have other cases in the works in various stages of completion including another one that should also be finalized today for a $1,500 fee.

My complete commercial debt resolution Business Plan System will show YOU how to do this yourself and begin earning a substantial income in a short amount of time.  I encourage anyone interested to contact my office with any questions or concerns before investing in my program.

Scott F. Soape

Real Entrepreneurs

I saw a recent article in Inc. Magazine online regarding the difference between real entrepreneurs and wannabes and thought it was worth sharing here.  Please click the link below to view...

http://www.inc.com/erik-sherman/4-traits-separate-entrepreneurs-from-wannabes.html

Scott F. Soape

A New Career for the New Year!

Whether you are looking to make a complete change in careers this year or just wanting to add a little extra income, I hope you will consider my complete commercial debt resolution Business Plan System.

My program will show you how to quickly and easily start earning substantial fees in this profession.  Hundreds of these cases arise daily across the country and I explain exactly how and where to find them.

Your relatively small investment in my material can be more than recouped in your first successful settlement within a few short weeks.  I encourage you to shop around for a better deal (none exist) and to contact my office with any specific questions or concerns before you invest.

Make 2014 your Best Year EVER by starting a new career (part-time or full-time) as a professional commercial debt negotiator!

Scott F. Soape