On July 16th a new client retained my services to settle a pending lawsuit. Today, less than 2 weeks later, he accepted the settlement I negotiated. Here are the numbers:
$10,205 Debt
$7,000 Settlement
$3,205 Saved
This 2 week settlement is about an average turn around time whenever a creditor is willing to respond to offers in a timely manner. Thankfully, that was the case here. I had never dealt with the attorney for this creditor before so I was not sure what to expect. She held out for considerably more than my initial offer but, after some back & forth, all parties benefited in the end.
It is also important to note this $7,000 settlement is a TOTAL amount. Had the creditor prevailed with the lawsuit, they could have been awarded attorney's fees up to 1/3 the amount of the debt or $3,400. Plus, it cost them over $200 just to file the lawsuit and they could have required a separate reimbursement.
This means my skilled negotiation efforts effectively saved my client in excess of $6,800!
As you may imagine, my client was thrilled with the savings and they can now concentrate on making money rather than dealing with this legal matter. In addition to earning a nice fee, I am also happy to have helped my client through a tough situation.
Scott F. Soape
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Insider information on how to become a successful professional commercial debt negotiator and earn a Six Figure Income. My turn-key Business Plan System will teach you EVERYTHING you need to know... from locating leads to negotiating settlements to getting paid HANDSOMELY for your valuable service. Office from home and work part-time or full-time if you like. Earn professional fees from $500+ per day!
About Me
- Scott F. Soape
- Scott Soape is the owner and founder of Scott F. Soape & Associates, LLC and has been a leader in the commercial debt resolution profession since 1997. Scott's background includes employment as a bank executive early in his career, serving as President of the American Institute of Banking in Austin, employment as a Financial Consultant with a national brokerage company and owning his own financial consulting practice for many years. Over the years, Scott has assisted thousands of businesses across the country with their problem or disputed debts with a near 100% success rate. Mr. Soape is not an attorney. None of the information provided here should be construed as legal advice.
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