Marketing Material

There is no need for a lot of out-of-pocket expense as you get started in this profession. However, you will find it helpful to use whatever marketing material your budget will allow... business cards, letterhead, envelopes, flyers, brochures, etc. All of these will help you build a professional image for your business.

You may want to check out the online material at www.VistaPrint.com for some affordable ideas. Or simply visit a local print shop for a choice of styles that fit your budget and project the image you want. These folks can provide great insight into what might best fit your needs.

Scott F. Soape

Credit Scores

A recent article in the Wall Street Journal provided a helpful breakdown of FICO scores. It is always a good idea for anyone involved in this profession to be versed in all aspects of debt information. It is additionally helpful in our personal lives.

To view this article go to www.wsj.com and enter the author's name, Emily Glazer, in the search window. Her article is titled "Protect Credit Score".

Scott F. Soape

Secondary Case Leads

I always recommend people new to this profession start by checking recent court cases involving one business suing another business for monetary damages. These are ideal leads for several reasons... all of which are outlined in my comprehensive Business Plan System. The defendants (debtor businesses) typically love to hear about our service as an alternative to hiring an attorney. My system has a near 100% success rate in negotiating settlements for these cases.

You may also want to check out other lawsuits naming a business as the defendant but with another entity as the plaintiff (creditor). I refer to these as "secondary case leads". Plaintiffs for these cases are non-business entities and might include government agencies, individuals, etc. Although these cases will not typically qualify for our service, they are an indication the defendant business might be having financial difficulties and may need our service for other problem debts. Contacting them and offering to assist in resolving their other past due or disputed debts can often lead to landing a new client with several cases to work.

In my area there are even a couple of creditor companies that file numerous cases each month but will never negotiate settlements (their attorneys prefer to push for full judgments). Although I am unable to help the debtor businesses in these specific cases, I know they probably have other situations I can help with. These "secondary case leads" simply open the door for me to approach the defendant businesses with my service.

Scott F. Soape

My BBB Rating... A+!

Since founding my company in 1997, I have not received a single Better Business Bureau complaint... from clients or students of my program.

Of course this does not mean I have never encountered a problem or concern along the way. What it does mean is that I strive to always do the right thing in resolving any dispute.

My "no results, no charge" arrangement with clients naturally keeps complaints to a minimum. After all, who can complain about a service they don't have to pay for? I try to reflect this same attitude in my Business Plan System with my "no risk" 30 day full refund offer. Should a purchaser of my program decide for any reason it is not right for them, they can return the material for a complete refund of their $187.00 purchase price.

I am very proud of my "A+" BBB rating and I encourage you to click on the link below to see for yourself. Enter your zip code then click on the "Check Out A Business or Charity" button and enter my company information: Scott F Soape & Associates, LLC, Georgetown, TX.

www.bbb.org

Scott F. Soape

Keep Spreading the Word

Referrals from many different sources are a great way to ensure a constant stream of pre-qualified clients. Setting up a program to regularly remind your referral sources of your service will keep these leads flowing. My complete Business Plan System identifies several possibilities for great referral sources. Personally, I love to get out and visit with my referral sources one-on-one. I will either just drop in for a quick visit and leave a brochure or schedule an appointment for a short talk or lunch. If you prefer, you can simply mail a note, brochure or flyer. A brief email is also appropriate. I have also used the Internet business networking site www.LinkedIn.com to cultivate referrals with some success. Whatever method you choose, just be sure to follow through and keep spreading the word. The referrals are sure to follow! Scott F. Soape

Getting Started

I recently had a question from a new student asking about my recommendation to use a P.O. Box for a business address. Of course, as with many new start-up businesses, his concern was to keep expenses as low as possible until the revenues began arriving. My recommendation is to use a P.O. Box for an address, unless you are already set up with a regular office. This promotes an image of a REAL business... which can be important when you are trying to build trust with new or prospective clients (and creditors). However, everyone is on a different budget and, if you want to cut costs, you may certainly use your home address as you are getting started. Don't print too many business cards at first and, when your income allows, you can switch to a P.O. Box and print more cards. One of the great things about this profession is the ability to start up on a shoe-string budget and grow your business as fees are earned! Scott F. Soape

Avoid Default Judgments

Many times, a creditor's attorney will file a lawsuit simply in hopes of receiving a Default Judgment against a debtor business with NO intention to actually take a case to trial.

If the defendant (debtor business) fails to file an answer to the lawsuit by or before the answer date deadline, the court is likely to award a Default Judgment to the creditor for the full amount claimed, plus attorney's fees (up to 1/3 the amount of the debt), court costs and possibly back AND future interest on the debt. Once a Default Judgment is issued, the creditor's attorney will have additional legal tools available to hunt for and attach to assets of the debtor business.

This situation should be avoided if at all possible.

Even if a debtor business does not retain your services, you should encourage them to file an answer to the lawsuit. There is a chance this will be all it takes to keep a creditor at bay and the lawsuit could be dismissed by the plaintiff without further effort on the debtor business's part.

Scott F. Soape