The Real Story Behind the Pre-Paid Legal Scam
Lately, a lot of people have been talking about the Pre-Paid Legal scam. As of May, 2011, the company is under investigation concerning a recent merger between Pre-Paid Legal and MidOcean, a private equity firm based in New York. There are allegations that the merger wasn’t fair to Pre-Paid Legal shareholders, and several law firms are investigating.
For network marketers looking to join an opportunity, this could be disheartening news. But before thinking it’s all gloom and doom, it’s important for network marketers to get a bit more information about the company. As it turns out, Pre-Paid Legal might not be the type of company you think it is.
The Early Days of Pre-Paid Legal
Pre-Paid Legal was founded in the early 1970′s, after the founder, Harland C. Stonecipher was in a motor vehicle accident. While the accident wasn’t his fault, he still had to go to court, and in the process he lost his life savings. That’s where the idea for an insurance-like service to cover legal fees came from.
The company claims that it works much like an HMO, where people pay a monthly fee to cover themselves for certain issues (like motor vehicle violations, property damage, wills and estates, and creditor trouble, among other things), and in the case that one of those things happens, Pre-Paid Legal helps find a lawyer from their database and services are given at an agreed-upon cost.
But the real issue here is the Pre-Paid Legal scam:
Does the Pre-Paid Legal Scam Exist?
In simple terms, no. The company operates a legitimate service that provides care to over 1.4 million households. In addition, they are affiliated with thousands of network marketing representatives, many of whom have found financial success through the company. Of course, it’s not all perfect. There are many disgruntled clients, and disgruntled representatives as well.
How Did the Rumors of a Pre-Paid Legal Scam Start?
While we can’t be sure, it seems safe to say that Pre-Paid Legal reps who haven’t made as much money as they initially expected have been unhappy with the company. And it’s not all the reps fault – many who join dream of immediate wealth and success. In addition, the company makes it seem like anyone can sell these service to their family and friends, and in turn, start to see immediate and huge results.
This is unfortunate, because the Pre-Paid Legal opportunity has huge potential to be quite lucrative. But it takes more than selling to friends and family. And it takes a lot of hard work.
Those interested in an opportunity like this have to take time to learn from the experts about how to run a successful network marketing business. Learn SEO. Learn to create a great opt-in page. Learn to give presentations on the phone, and communicate effectively. All of these things are key to building a successful business with Pre-Paid Legal.
To learn more about building a successful business with Pre-Paid Legal, check out Pre-Paid Legal Wealth.
Joshua Fuson is a professional marketer, and has participated in the generation of over $14 million dollars in the direct-marketing industry in the past 4 years alone. To find out more about Josh, click here.
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