Because we do not know what is going to happen when we send a violation demand letter, we have a multi stage compensation plan that we believe is very fair for the client and us as well. Our contract clearly lays out how we charge.
Initial Fee $100 (if a client was to come in from our website or loan officer we charge $250)
This fee is for all the creditors on the engagement agreement. The initial fee covers the certified mailing costs plus initial document review. Keep in mind for every demand letter we send out we mail a copy to Data Furnisher, up to 3 CRA’s (Equifax, Experian, TransUnion), if the data furnisher is a debt collector – we send a demand to the original creditor.
Payment for Possible Outcomes
Just a Deletion If the client receives just a deletion they will pay us a nominal fee after the item is removed.
Deletion + Money If the client receives a check from the creditor, they will keep 55% of the check and we will keep 45% of the check. They will also have the deletion of the item from the credit report
Settlement + Deletion After the client as paid the creditor and obtained removal from the credit report the data furnisher’s reporting of the trade line, they will pay us a nominal fee
Nothing Happens They owe us nothing more.
Lawsuit Filed If we file the lawsuit the client splits the proceeds earned with the firm 50/50 with initial costs being deducted from the client’s side.