Why A Bad Economy Means A It's A Great Time To Become A Debt Settlement Affiliate

By Author: Lenore Mcclain
Total Articles: 147
Comment this article

The economy is slowly recovering from the recent recession, but there are still problems. While the jobless rate slowly declines, the prices of goods like gas and food continue to go up. People are struggling to get out of debt, but inflation and the overall cost of living is not helping their cause. However, all of this economic turmoil does represent a unique opportunity for entrepreneurs looking to start a debt settlement net branch. In particular, professionals such as mortgage brokers or insurance brokers, who already work with clientele on a daily basis that may be looking to resolve debt issues, have a unique opportunity to start generating a second stream of income.

A primary objection to enrolling in a debt settlement affiliate program that is often voiced by busy professionals is that they simply do not have time to take on the piles of paperwork involved with procuring a debt settlement arrangement for their clients. However, as an affiliate, other than submitting the initial application on behalf of a client, there is no additional paperwork or headaches required. The back-end debt settlement work is all done ...
... by a 3rd party, who's attorneys offer a variety of services including debt management, debt settlement, tax settlement, student loan default resolution, and bankruptcy settlement. Once the end client is pre-approved for a settlement program, they will be contacted by a service department that will guide them through the entire process.

There are several different ways by which a debt settlement affiliate can earn commissions. A fairly new and very popular method is the usage of the FDCPA: Fair Debt Collection Practices Act. Because a large percentage of creditors utilize very aggressive collection methods, many of which violate the FDCPA, there is often an opportunity to sue those debt collectors on behalf of the client. Violations can result is fines of up to $1,000 per occurrence. A portion of these funds collected by attorneys on behalf of the client is then set aside in a trust account that is used for eventual debt settlement. For the affiliate, there is often a much better compensation or commission obtained through a FDCPA and debt restructuring program than through traditional debt settlement.

The American academic and historian Henry Adams once said, "Chaos often breeds life, when order breeds habit." Many have interpreted this quote to mean that chaos, represented right now by the turmoil in our economy, creates new opportunities. The free-spending ways of our society that led many to live beyond their means has caught up with us. However, for the fortunate few that can recognize the current opportunity, there is money to be made by helping ordinary Americans settle their debt problems and move on with their lives. It is for that reason that the time has never been better to open for business as a debt settlement net branch.

Andrew S. Armstrong sees the unique opportunity to earn income as a debt settlement affiliate by opening a debt settlement business.