How Much Can I Make in the Debt Settlement Business?

Your clients will typically be paying a fee based on 15% of their total outstanding debt that will go into the debt settlement plan. So how much of that will you earn as a debt settlement agent?

The answer is that it varies by the back end debt settlement provider. Most companies have commission structures ranging from 35% on the low end to 50% on the high end. Your commission structure is tiered based on your total production. Different companies start out the commission structure at different commission levels. Some start at 35% while others may lure you in with structures at 50% to 60% commission. However, the ones offering 50% to 60% typically have high start up costs (like $3000 to join the program) or monthly fees to be part of their program - I saw one recently that was offering 50% commission with a $297 enrollment fee and a monthly fee of $139 to be part of that program.

So what should you do if you are just getting started? My recommendation is to join a program at 40% to 50% commission with no up front enrollment fees and no monthly membership fees. This makes your entry into this business low risk. Also, make sure that the company you are using follows TASC principles - this shows that the company is an honest and ethical debt settlement provider.

There are many companies out there to choose from. I recommend that you start a search and make a list of 5 to 10 companies you are considering work with. Write a list of questions that you will ask each company to help screen out the bad ones.

Are you looking for more information about how to handle this process? If so, check out my brand new guide Road Map to Starting a Debt Settlement Company. This guide comes free when you purchase the Five Steps Guide You Need to Know ...