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
Wednesday, April 23, 2014
Friday, April 11, 2014
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
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
Friday, March 14, 2014
Friday, February 28, 2014
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
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
Thursday, February 6, 2014
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
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
Monday, January 20, 2014
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
http://www.inc.com/erik-sherman/4-traits-separate-entrepreneurs-from-wannabes.html
Scott F. Soape
Sunday, January 5, 2014
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
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
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