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RE: MMZ Financial Consulting

Postby RichardC » Tue May 05, 2009 12:41:11 PM

That’s really quite odd Mike, now I am confused. Credit Canada is a non-profit credit counselling company headquartered at 45 Sheppard Ave. They do have satellite offices around the city but apparently those are just for consultations to client walk ins (sales) and all back end (credit counselling) work is processed at 45 Sheppard Ave.

It’s not a debt settlement company. Debt settlement is a for-profit business model and that sort of conflicts with a non-profit credit counselling business model. Because of their non-profit/charity status their focus is on credit counselling so they can maintain relationships with creditors and collect their fair share payments.

They don’t have a debt settlement department or a training manager for debt settlement according to a friend of mine that has worked there since 2004.

Assuming you were there in 2007 as a debt settlement training manager, I’m sure he would know of you and your role there since its not a huge place. If it is ever needed he tells me that he is the only person there that negotiates a settlement on consumer debt and apparently it’s so infrequent that he even does that.

He also said he never heard of you or MMZ. Are you sure it was Credit Canada Mike?
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RE: MMZ Financial Consulting

Postby average_joe » Fri May 01, 2009 06:09:42 PM

Mike,

I find that very noble that you like to help people out when they are facing a financial hardship. Keep up the good work.
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RE: MMZ Financial Consulting

Postby MMZ Financial Consulting Ltd » Fri May 01, 2009 04:20:23 PM

I worked for credit canada. I started in 1996 as a collector, then became a supervisor, manager. in 2005 I became a training manager for 2 years then I went to credit canada in 2007 till recently when I started up my company and had enough saved up. So yes it has been a long time but I am in the industry to help others out get back on track and not have to worry about their finances anymore.

Mike
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RE: MMZ Financial Consulting

Postby RichardC » Fri May 01, 2009 07:57:40 AM

Hey Mike,

You mentioned something about being a previous job as a training manager for a debt settlement company.

You didn’t talk about that in your original post, I think you only mentioned about being a bill collector for 10 years. Maybe it was before your 10 years in collections?

I am curious, which one were you a training manager at and how long were you there for?

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RE: MMZ Financial Consulting

Postby average_joe » Thu Apr 30, 2009 09:06:16 PM

I noticed you settled $180,000 worth of debt for a client for $30,000 plus $3000.00 your fee in total of $33,000.I worked it out and that is 18.3%.I must commend you on your expertise, because I am doing my own settlements and so far my percent on settling my debts is 10.5%.If your doing these kinds of percentages you will have people calling you all the time. I know the debt settlements companies do not have these kinds of percentages.

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RE: MMZ Financial Consulting

Postby MMZ Financial Consulting Ltd » Thu Apr 30, 2009 08:47:47 PM

Richard I don't charge high fees either. Someone enrolling in my company is shown how to do it themselves for 500 for debt restructuring. If they want me to handle it I charge 20% of whatever I save them plus GST. For example I hve one client who had over 180k in credit card debt, I negotiated a settlement with all her creditors for 30k in total and charged 3000. Not 12k. I do not do mortges though I have mortgage broker friends that I let them know of if they want to use them. I don't push them towards one though. As you see I am not trying to rip anyone off. Some bigger settlement companies do not like companies like mine because we do not gauge the consumer out of their money like they do. Honest pay for honest work
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RE: MMZ Financial Consulting

Postby MMZ Financial Consulting Ltd » Thu Apr 30, 2009 08:41:34 PM

Just to let you know I am a registered corporation and everything is known to the government. I also am not in it for a quick buck aswell. I know so called agencies that charge way more than I do and do way less. I worked as a training manager for a debt settlement company previously aswell as a training manager for a collection agency. So I am well aware of how to handle affairs properly for consumers. I just recently opened up my business and am not taking on more than I can handle either like some companies. I only enough cases that I can handle and that is beneficial for my clients. I also know the ins and outs of both industries which gives me an advantage.

No worries I take no offence to the grilling..hehehe

I understand where you are coming from since talking to many individuals who have been screwed over by these fly by night settlement companies.

The reason I am a consulting firm is due to the fact of being able to branch off later on and not brand myself in one direction since I have experience on both sides of the field.

Mike

MMZ Financial Consulting Ltd
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RE: MMZ Financial Consulting

Postby average_joe » Fri Apr 24, 2009 03:46:55 PM

MMZ,

I don't see a website for your company. If anyone is planning to mention their business on here they better be prepared to get background checks.

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RE: MMZ Financial Consulting

Postby RichardC » Wed Apr 22, 2009 09:56:26 AM

Thanks for the positive comments Monty and Matt. I know Matt really gets “it” because the mortgage community needs its mortgage agents to be licensed, pay E&O insurance etc. etc. to arrange mortgages for people.

Imagine a “consultant“coming on here telling you they don’t need to be licensed to arrange mortgages for consumers.

Joe, to answer your questions we have two programs. One is a monthly one (flat fee model) and the other is our FastTrack (percentage of what you save) program. You can also click here to learn more: How Debt Settlement Works

First things first, you must owe a minimum of $10,000 in unsecured debt to qualify for our plan. The monthly program creates a budget and is appropriate for those that have debt but lack the financial resources to pay a lump sum settlement right away. As far as I know we are the only debt settlement company in Canada that has invested in software, training and people to manage a monthly plan over 36 months. Everyone else out there, in Canada at least, only settles debt like our FastTrack program.

Our FastTrack plan is appropriate for those that have debt AND have access to a lump sum of money right away. Settlement money from a FastTrack can come from a mortgage refinance, the sale of assets or family/friends pitching in.

What Pros/Cons you need to know about our debt settlement:

Pro’s - Expect to get out of debt for less then you owe today in 1-36 months, all fees included. That is a huge feature that is more attractive then the credit counselling or bankruptcy deal.

Con’s – Expect creditor’s to be irritating and call/send collection letters, don’t expect your credit rating to improve until you settle your debts off and lastly expect to be threatened with legal action and even though its rare, possibly answer a lawsuit. You do owe the money after all so until a settlement is reached and paid, our involvement doesn’t change that fact.

The Cons on a FastTrack plan are really a moot point because the timeframe to settle the debt and move on with your life is usually within 3-6 weeks so it’s not even an issue.

We are a full disclosure company and we talk about all aspects of having your debt settled we do that so no one is ever surprised. We aim to under promise and over deliver. We are aware that the Con’s are an issue and have processes and procedures in place that minimize the Con factors. These steps are trade secrets so I won’t talk about that.

Our fee is simple on a monthly plan. It’s 15% of the total debt enrolled into the program and a $29.99/month maintenance fee while in the plan. A client with $20,000 of credit card debt would expect to pay $3,000 to us to negotiate settlements and if we average 40-50% settlements ($8,000 - $10,000) then their total cost including our fee would be around $12,000-$14,000 with the maintenance fee if you enrolled for 36 months.

If you are a Fast Tack client expect to pay between 15-30% of what we save you. It varies because there is more or less work involved depending on the list of creditors owed, type of debt and whether or not and if they have any judgments outstanding against you ( i.e. garnishments, liens etc). On a case by case basis I have also approved a flat fee.

Our service guarantee: We also have a universal service guarantee, no settlement = no fee.

I’m not really on here to push my company, my presence is for forum discussion and to help people, which is ultimately for link building purposes, so if anyone has further questions, or wants a free quote, then please contact our debt consultants at (866) 833 1992 and press option 1 for an available agent. You can also click my signature link below and fill out a request online for a consultation and someone will get back to you within a day.

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RE: MMZ Financial Consulting

Postby average_joe » Tue Apr 21, 2009 08:31:15 PM

It would be nice for members to know what are Total Debt Freedom’s and MMZ Financial fees are for settling debts and anything else they should know before they go into a debt settlement company for help. If you submit the settlement offers to the creditor and the client refuses them, do you still charge them and if so what is the charge. Does the client have to owe a certain amount for you to take them on as a client? Do you do a flat fee for submitting settlement offers to each creditor instead of a percentage? If there is a flat fee for submitting settlements offers to each creditor will that include a few attempts to settle in one year.

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