Pros
Opportunity to make an exorbitant amount of $$, WageWorks commuter benefits, and holiday/annual after-work parties. There are a couple gems that work here who should be leading other companies, you can learn a lot from them. It's cool to have a board posted to see everyones sales on a monthly basis.
Cons
Notorious as one of, if not THE hardest bait and switches in the industry, Strategic Financial Solutions manages to deceive every single client by using an old bait and switch strategy to create a 'market' for their debt settlement program. Client Base: 99% of clients respond to a flyer of a different alias marketing a loan pre-approval up to $75k at an APR as low as 3.65% ..which is no where near the current best offer of $25k at 7.12% APR by their lender. About 99% of clients are not approved for the loan, within the 1% that are within the 10-25k at rates from 10-35% (which is worse than credit cards in many cases). The Program: The program requires that clients stop paying their creditors altogether until the accounts are charged off and/or a creditor files a lawsuit.. That is when negotiations steps in and starts trying to resolve the accounts 1 by 1. This process takes anywhere from 4 months to 4 years depending on the account. Consultants are told to explain to clients that 'Fico 9.0' is there to mitigate credit score and history impact.. when that simply is not the case. Fico 9.0 is used by <5% of lenders and there is no implication that number will jump any time soon. This program will leave a black-mark similar to bankruptcy for 7-10 years as accounts being charged off or in collections sticks for a long time. This is according to the current Fico 8.0 model. This has a variety of consequences but most significantly impairs any lending capability in the future (mortgage, car, credit cards, loans, student loans) or at the least pushing up any interest rate unreasonably high. Creditors HATE this program and will be sure to make you pay for it in more ways than one, this is just one of them. Bottom Line: Bottom line this program destroys lives, personally i've heard of clients losing their careers, homes, and families by enrolling in this program... Where they face litigation, become compromised at work, and wind up filing bankruptcy and losing all of their savings and non-essential assets. On top of causing tension within the family (i.e. divorce!) whether from the constant creditor calls/litigation letters/or public record by one of the 3 credit reporting bureaus. Customer service probably has the toughest job here, i've heard of reps crying with clients on the phone after hearing their hardships AFTER enrolling in this program, they typically do not last long (working there) as being the first ones to tell the truth they often get the brunt of the anger/yelling by clients. Review: While in particular cases this option can make sense for a client on the verge of bankruptcy and well behind on payments; the amount of enrolled clients that would meet that threshold would be lower than the amount of lenders using Fico 9.0. Consultants are cornered to pressure clients into the program or "rush" them in as any intelligent person with time and researching the program and company will never do this. This causes a tense environment and often a level of hostility with clients who feel pressured. Most clients never answer the phone after a pitch, however they will be called/emailed everyday for weeks if not months. (<Harassment much?) Long hours, no holidays (you work most of them), Saturdays are to be expected, They bait and switch the salary too! If you don't perform they will drop you to 30k Draw/Commissions plan ASAP. (It's not a base salary if you're fired by the time you earn only the base!) Cold calling/paying back commissions (on cancels) for first 3 payments into program (months). The average consultant's cancellation rate is ~ 20%.. so take that as you will. Vey unprofessional environment at times, One of the interviewers is unprofessional, , attempts to intimidate/bully you into a wrong answer, and doesn't ask relevant questions that pertain to the position you are competing for. It's just fluff and you may never hear back after interviewing for a different position within the company.
