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Melissa Bonkoski:
Today I am interviewing Lance Shapiro
Esq. the founder and CEO og Legal
Revenue Service. First off Lance, what's your
educational background?
Lance Shapiro: First,
I'd like to say thank you for
interviewing
me. Over the years I've spent a lot of
time in school in addition to building
my company
I have a
Master's Degree in Business
Administration (MBA) a Bachelor's Of
Science degree (BS) in business
administration. I graduated with honors
(Summa Cum Laude)
I also graduated
from law school and earned the
distinction of Juris Doctor
Melissa Bronkows: I
see. You have spent a considerable amount
of time lot of time in school. You've
also garnered some pretty impressive
credentials as well. Okay, now lets move
forward and discuss let's get to what
people really want to know
What makes your training
system superior to other programs
available online?
Lance: In a nutshell, it boils down to my
education, background, and experience in the
business. Prior to building a successful
judgment recovery business, I was an
agent for the IRS.
More specifically, I worked as a Revenue
Officer collecting taxes and later as an
agent in their Criminal Investigations
Division. I am also a private
investigator and an attorney.
Everything I learned from these
intensive disciplines was methodically
incorporated into my training system.
Bottom line the information in my system comes from real world knowledge
in this field, not from third party
"experts", who do not practice in the
business.
My company is engaged in
collecting judgments on a daily basis.
Melissa: What's included in your
training system?
Lance:
My program is packed with proven methods
of locating debtors and their assets,
which can then be seized to satisfy your
judgment. The course itself consists of
a step-by-step manual, forms, skip
tracing software, and case management
database program.
Melissa: Is judgment recovery
really a
legitimate business? I know a lot of the
programs being sold online are designed
to make the author rich
Lance: I totally
understand what you're talking about.
There are a lot of hucksters out there
sell business opportunities that aren't worth the paper they
were printed on. Luckily judgment
recovery is not one of them.
Judgment recovery is based on the age
old business of debt collections. Debt
collections in itself has been in
existence in some form for as long as
man has purchased anything on credit
terms
To further add even more legitimacy to
the business, you will have the full
weight and support of the U.S. judicial
system backing you.
Melissa:
Does a prospective judgment recovery
specialist need any special licenses to
pursue this business?
Lance:
In most states no actual licenses are
required to go into judgment recoverys.
The reason being is that you are not a collection
agency. Using my system you will have legal ownership of
all judgments prior to collecting them.
Therefore,
no licenses are required.
With that said, I would strongly suggest
anyone interested in judgment recovery
to obtain a general business license.
Doing so will open the doors to
accessing special investigative
databases.
These databases are oftentimes paramount
to your success in this field of
endeavor
Melissa:
Does a person need any experience in
collections or legal background to
pursue this opportunity?
Lance:
No. Not all. We will provide all the
knowledge you need, as well as all the
forms and contracts necessary to be
successful in this business.
Melissa:
Will I have to make threatening phone
calls or confront the people I am trying
to collect from?
Lance:
Not at all. The procedures covered in my
training system are very
non-confrontational. In most cases you will never come
face to face with a debtor!
Melissa: Is the
income from judgment recovery
dependable?
Lance: If
you're consistently working to build
your business and you follow the
guidelines in my training system you
will make consistent income.
The key is
to study the course diligently and then focus
and concentrate on building your
business.
Simply follow my guidlenes, put in the
work, and you will make money
Melissa:
Is there a lot of
competition in the judgment recovery
industry?
Lance:
This is still relatively new business
and there are only a handful of people
doing this throughout the country. With
thousands of judgments filed in every
level of courts throughout the United
States daily, there is room for
thousands of people to profit
handsomely.
Melissa: Are specialists
restricted to one area or region of the
country?
Lance:
No! You can work this business anywhere,
from small towns to large cities
anywhere in the United States. Some
states are better to do business in than
others
Melissa: Is judgment recovery a good
opportunity to pursue in every state.
Lance: In most states judgment recovery
is an excellent business to conduct.
However, there are a few states where
judgment recovery is more difficult.
Regarding that issue, here's one point
to strongly keep in mind. With the
advent of the Internet you are no longer
limited to working solely in your
personal community.
I have students who live in remote
locations in northern California who
have successfully collected judgments
700 miles away here in Los Angeles.
If you live in a state that isn't
judgment recovery friendly, you can
easily operate your business in other
states.
In fact, my training system will teach
you how to collect judgments on a
nationwide basis, just as easily as you
would locally.
Melissa: What kind of money are we
really talking about?
Lance: Done correctly, judgment
recovery has the potential to generate
great wealth for you. In essence It's
similar to selling real estate... Only
in reverse.
A real estate agent earns relatively
small commissions based on large dollar
transactions.
In judgment recovery the dollar values
are typically smaller, yet the fee per
judgment collected is typically much higher
For example, the average dollar amount
of most judgments in your pipeline will
be in the range of $1,500 to $7,000.
However your average fee per judgment
will be in the neighborhood of 50% of
the amount you collect.
Let's do some simple math and see what
we are looking at:
If you collect 4 judgments per month
with an average payout of 50% of the
principle amount ($5,000) that would
equate to $2,500 x 4 = $10,000 per
month.
Keep in mind that these figures are
hypothetical... but they are achievable.
With that said, judgment recovery does
require that you put in the work.
Realistically, there is no free lunch in
any endeavor. You have to take action to
see results in your business venture.
But the work doesn't have to be
difficult or unpleasant either. Big
money is made by working smart. Not by
working hard!
This is precisely where my training
system will make the difference for you.
I have taken all the guesswork out of
the judgment recovery business. I have
created a step-by-step judgment recovery
blueprint.
Virtually anyone can implement my
blueprint and see measurable success
relatively quickly.
Some folks who have used my training
system have indeed earned six figure
incomes. Others have earned considerably
less.
The key to success is to follow the
roadmap that I have set forth for you in
my training system. It will always guide
you in the right direction.
Melissa: When do I see the money?
Lance: You know
Melissa... every case is different. Some
judgments are collectible almost
immediately. Some are not.
I have ran credit reports on many
judgment debtors over the years and
discovered their place of employment
within minutes... even seconds.
The very next day I had a wage
garnishment in the works.
Then there were other cases that
required more time to come to fruition.
The nice part about wage garnishments is
that they provide you with recurring
monthly income.
I strongly suggest that you establish as
many of these streams of income (wage
garnishments) as possible. They will pay
your bills while you continue to build
your business
Melissa: I want to start out fulltime
and go gangbusters at my business. Is
this a good idea.
Lance: Although that's a personal
decision, I would only suggest doing
that if you can absolutely afford to.
During my first 3 months in business I
cleared just a little over $19,000.
I knew then that judgment recovery was a
viable business venture. However, even
at that I kept my full time job until I
had sufficiently built up my cash
reserves.
It's really a comfort level issue.
Melissa: You suggest that I charge 50%
of the dollar amount I collect. Don't
most judgment holders balk at that?
Lance: Some will. Some won't. For the
folks that think 50% is unfair, you can
explain to them why moving forward would
be in their best interest.
In my training system I have included
several rebuttals that we use that will
often close the deal.
If you've ever seen the movie "Glengarry
Glen Ross" you know what I mean...
Always Be Closing... That is if the deal
is right.
If it's not, or the judgment holder is
being obtuse, simply move on to a better
deal. There are always more 'good'
judgments available to collect.
Melissa: What's a day in the life of a
judgment recovery specialist like.
Lance: Most days you will either be
doing research on your computer, or on
the telephone. At other times you will
be completing paperwork to execute
garnishments, or marketing your
business.
For a more detailed explanation of what
being a judgment recovery specialist is
like
click here and sign up for my free
newsletter.
In one of the issues, I provide you with
an actual detailed case study. You'll
see exactly how a $7,000 judgment was
collected by a member of my staff.
Melissa: How can someone guarantee
their success in the judgment recovery
business.
Lance: One of the most important
aspects of being a success in this
business is by choosing the 'correct'
judgments to collect. I've had judgments
that I have collected in under a month.
Some I have collected in just a few days
because the judgment debtor paid in full
rather than having a garnishment on his
wages.
On the other hand, I have seen judgments
come across my desk that didn't stand a
chance at ever being recovered.
To make your life easier, I have
included the identical criteria that any
judgment must meet or exceed for my
company to take on the assignment.
This information is literally worth its
weight in gold if you plan to build and
grow a home based judgment recovery
business.
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