prepaid legal services ? (lease, fee, commission, sales)

[giraffeboy]

hey everyone, i am looking for some advice on making extra money. one of my friends claims that you can make good money by doing prepaid legal? he pitched it to me in that it does sound to good to be true, but wanted to see if anyone else has experience with it or has done it before.

i think my biggest hurdle would be to get the ball rolling, but after i get some people under working under me, wouldn't the rest sort of fall into place? any advice or tips?

[golfgod]

I assume you mean you want to get into SELLING prepaid legal, is that right? If so, how are your SALES SKILLS? Direct, COMMISSION ONLY sales is still one of the highest paying jobs in the US, the problem is that a MINUSCULE percentage of people can ACTUALLY CHANGE THE MIND OF OTHERS, which is what sales is all about.

If you CAN SELL, and I don't mean hanging around in Best Buy or Sears and occassionally moving an item over the counter, I mean moving BIGGER TICKET items, then get into sales. Do NOT get into any MLM (multi level marketing) scheme. If you think "things will be tough at first, but better once I get some others selling for me YOU ARE SADLY MISTAKEN. Not in the believe that the big money comes with others selling for you, BUT FOR BELIEVING THAT THOSE PEOPLE WILL JUST APPEAR BY MAGIC.

YOU have to go RECRUIT, and SELL those people on the concept of doing the work to make you money.

Go get a SALES JOB, I don't care if it's door-to-door vacuum cleaners. If you move those and make over $50K/year, then move up to cars, or get a securities license and sell stocks, bonds and mutual funds.

If you can't SELL iron door to door, keep your day job.

golfgod

[Golfinnova]

Unless you know a ton of people and can sell ice to an eskimo, RUN AWAY. I tried this over 10 years ago, and it is a ton of work. You have to sell the product to potential clients, then you have to recruit people to your "triangle". Then you have to get your people to recruit new members, thus the "MLM" or multi-level marketing.

Just like any other MLM whether Avon, Amway, etc. You will find in every meeting you go to some "success stories" which are people who make over $100k/year and drive a Cadillac or Benz and have a huge mansion. However, those people are less than 3% than all reps combined and the huge majority have to take a second job just to make ends meet. Of course, I haven't mentioned the "investment" you have to make just to get started.

[dsnellen]

Originally Posted by giraffeboy

hey everyone, i am looking for some advice on making extra money. one of my friends claims that you can make good money by doing prepaid legal? he pitched it to me in that it does sound to good to be true, but wanted to see if anyone else has experience with it or has done it before.

i think my biggest hurdle would be to get the ball rolling, but after i get some people under working under me, wouldn't the rest sort of fall into place? any advice or tips?

The other posters have pretty much summed this up. It is MLM scheme. However, I have PPL for myself. It costs about $26/month and for this I get all the free legal advice I need. Last time I used it was last year when I needed some legal advice on estate planning and dealing with trustees. Client paid over $4000 for the turst documents and they were still screwed up. Having PPL do a trust agreement is around $650. A will is free. They will review any legal documents (i.e. lease agreements, sales agreements, contracts, etc.). The base fee provides a lot of services but like the maintenance agreement on the washing machine, unless you use it, its probably not worth the money. On the other hand, there is a lot to be said for telling someone who screwed you over that "My lawyer will be in touch." and actually mean it. Or to say "I will forward this to my lawyer for review. I'll get back with you."

Disclosure: I am licensed to sell PPL (in FL you need a license) and have sold exactly zero. Its just another tool in my toolbox so when I am talking with clients I mention its availability.

[eyewrist]

Originally Posted by dsnellen

The other posters have pretty much summed this up. It is MLM scheme. However, I have PPL for myself. It costs about $26/month and for this I get all the free legal advice I need. Last time I used it was last year when I needed some legal advice on estate planning and dealing with trustees. Client paid over $4000 for the turst documents and they were still screwed up. Having PPL do a trust agreement is around $650. A will is free. They will review any legal documents (i.e. lease agreements, sales agreements, contracts, etc.). The base fee provides a lot of services but like the maintenance agreement on the washing machine, unless you use it, its probably not worth the money. On the other hand, there is a lot to be said for telling someone who screwed you over that "My lawyer will be in touch." and actually mean it. Or to say "I will forward this to my lawyer for review. I'll get back with you."

Disclosure: I am licensed to sell PPL (in FL you need a license) and have sold exactly zero. Its just another tool in my toolbox so when I am talking with clients I mention its availability.

Yes I agree 100%. I have PPL and the best benefits are the free wills and the protection it gives when you get a speeding ticket and legal advice that they give. It is a MLM scheme in that they make money off of you buying their CDs, training seminars, etc. The problem with the program is that if you have a issue with someone who ALSO has PPL, then they are unable to help you because of "conflict of interest" and you will ultimately will have to get your own JD anyway. Just become a member. It is to hard to sell plus with the economy as it is, who will purchase this luxury?

[TXCountryBoy]

Glad to see other people use this service. I have it but never really used it.