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Prepaid Legal....

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  • Ricky Gurley
    To all, Vickie, I am sorry I had to clue in the clueless , but it is just to ironic and funny to be left unsaid.. Please forgive me.. What is ironic and funny
    Message 1 of 1 , Apr 3, 2005
      To all,

      Vickie, I am sorry I had to "clue in the clueless", but it is
      just to ironic and funny to be left unsaid.. Please forgive me..

      What is ironic and funny is that such BRIGHT Private
      Investigators can't see the bigger picture.. They say "a sucker is
      born every minute", this topic is certainly a proof of concept.. They
      also say "there is no such a thing as bad publicity", this topic is
      also proof of concept to this saying....

      Let's see.. Vickie advertises Prepaid Legal aggressively. Members
      get fed up with it, and they make a post about it ADVERTISING FOR HER!
      Allowing Vickie to propagate the topic even further.. AND.. Wallah!
      Vickie gets another person's interests, and a person that may
      potentially sign up.. Way too funny.. ROFLMAO! You guys have been a
      bigger help to Vickie than a hindrance.. Keep up the good work.. If
      you are going to help Vickie advertise and gain new members, why don't
      you sign up as a representative? Then at least you might get paid for
      all of your help...

      You make a negative post about Prepaid Legal, and Vickie gets an
      opportunity to reply to your post in her defense. She is then allowed
      to bring out positive points on behalf of Prepaid Legal, thereby
      peaking the interest of other members into possibly subscribing to
      Prepaid Legal. It is interesting that nobody caught this...

      Onto another point.. I have seen Vickie's posts referred to as
      SPAM.. Not so! Vickie was invited onto this group to post topics
      related to the P.I. Industry (and Prepaid Legal IS a topic that is
      directly related to the P.I. Industry.), sorry "fellers", that makes
      Vickie's posts solicited until the moderator requests that she stop
      posting about said topic. Therefore there is no "unsolicited posts or
      email" from Vickie. Translation: No SPAM violation for Vickie!

      And onto what I feel is the heart of this topic. I don't believe
      that Prepaid Legal is a Pyramid Scheme. I believe that some people
      here are just tired of seeing Vickie post about Prepaid Legal every
      time she makes a post.. Ok.. It is sometimes irritating to see, I'll
      agree. But.. When I weigh that irritation against freely allowing a
      person to aggressively work to produce an income and make a living for
      her family, I can see not reason to complain. If Vickie wishes to
      advertise Prepaid Legal in an effort to produce an income, so be it!
      More power to her! I wish her the best, and hope that it does help to
      increase the quality of life for her and her children! NEVER would I
      try to improperly label Prepaid Legal just because I was tired of
      seeing Vickie advertise it.. That is worse and far more malicious than
      a pyramid scheme, in my view.

      Let me explain what I have found in research about pyramid
      schemes. I quoted a definition from the SECs website on my last post.
      This is a quote from Debra Valentine, General Counsel for The United
      States Federal Trade Commission on Pyramid Schemes: "They promise
      consumers or investors large profits based primarily on recruiting
      others to join their program, not based on profits from any real
      investment or real sale of goods to the public." Prepaid Legal DOES
      provide a viable service for a nominal fee, and therefore on that
      point alone, the definition does not fit for Prepaid Legal. However,
      let's look further... Another quote from Debra Valentine, General
      Counsel for The U.S. Federal Trade Commission: "Some people confuse
      pyramid and Ponzi schemes with legitimate multilevel marketing.
      Multilevel marketing programs are known as MLM's,(4) and unlike
      pyramid or Ponzi schemes, MLM's have a real product to sell." Prepaid
      Legal offers a REAL service AND PRODUCT! The service is apparent by
      the attorneys making their self available to the subscriber as much as
      the subscriber needs their availability. The product is in the form of
      documents such as wills, estate planning documents, corporate forms,
      contracts, etc., etc. Moving right along, let's look at the danger of
      the pyramid scheme or the ponzi scheme.. In the pyramid scheme and the
      ponzi scheme there has to at least be a potential for a "collapse that
      will leave investors with a financial loss with nothing to show for
      their investment".. Suppose a level of the pyramid scheme collapses,
      all of the people under that level take a loss, and have nothing to
      show for their investment. Usually a high percentage of the investors
      that find their self with no one to sell to after the collapse, then
      we have a true "victim of a pyramid scheme", and further the investor
      will not find their self alone, it is estimated that an average of 70%
      of the investors find their self in the same situation, with nobody to
      sell their "product" to. Private Investigators, Bail Bondsmen, almost
      any type of business owner needs legal council. Business is on the
      rise, more and more people are becoming self employed. I can't see the
      need for legal council "bottoming out". Lest we not forget that the
      representative also gets their own Prepaid Legal package, so they are
      not investing in just a chance to sell Prepaid Legal, they are also
      getting a service and product in return. The FTC used this statement
      as a gauge to labeling a pyramid scheme: ". . . will encourage both a
      company and its distributors to pursue that side of the business, to
      the neglect or exclusion of retail selling. The short-term result may
      be high recruiting profits for the company and select distributors,
      but the ultimate outcome will be neglect of market development,
      earnings misrepresentations, and insufficient sales for the
      insupportably large number of distributors whose recruitment the
      system encourages." Prepaid Legal does not neglect the sell of their
      service and products for gaining customers, they make their service
      available and provide a product to those that sign up as soon as they
      sign up! People like to refer to Amway as a pyramid scheme, but in
      reality it is NOT! In the 1970s the FTC made a decision on whether or
      not Amway is a pyramid scheme, here is a little about that decision
      below:

      FTC AMWAY DECISION
      ----------------------------------------------------------------------
      "In In re Amway Corp.,(19) another landmark decision from the 1970's,
      the FTC distinguished an illegal pyramid from a legitimate multilevel
      marketing program. At the time, Amway manufactured and sold cleaning
      supplies and other household products. Under the Amway Plan, each
      distributor purchased household products at wholesale from the person
      who recruited or "sponsored" her. The top distributors purchased from
      Amway itself. A distributor earned money from retail sales by
      pocketing the difference between the wholesale price at which she
      purchased the product, and the retail price at which she sold it. She
      also received a monthly bonus based on the total amount of Amway
      products that she purchased for resale to both consumers and to her
      sponsored distributors.(20)

      Since distributors were compensated both for selling products to
      consumers and to newly-recruited distributors, there was some question
      as to whether this was a legitimate multilevel marketing program or an
      illegal pyramid scheme. The Commission held that, although Amway had
      made false and misleading earnings claims when recruiting new
      distributors,(21) the company's sales plan was not an illegal pyramid
      scheme. Amway differed in several ways from pyramid schemes that the
      Commission had challenged. It did not charge an up-front "head
      hunting" or large investment fee from new recruits, nor did it promote
      "inventory loading" by requiring distributors to buy large volumes of
      nonreturnable inventory. Instead, Amway only required distributors to
      buy a relatively inexpensive sales kit. Moreover, Amway had three
      different policies to encourage distributors to actually sell the
      company's soaps, cleaners, and household products to real end users.
      First, Amway required distributors to buy back any unused and
      marketable products from their recruits upon request. Second, Amway
      required each distributor to sell at wholesale or retail at least 70
      percent of its purchased inventory each month -- a policy known as the
      70% rule. Finally, Amway required each sponsoring distributor to make
      at least one retail sale to each of 10 different customers each month,
      known as the 10 customer rule.(22)

      The Commission found that these three policies prevented distributors
      from buying or forcing others to buy unneeded inventory just to earn
      bonuses. Thus, Amway did not fit the Koscot definition: Amway
      participants were not purchasing the right to earn profits unrelated
      to the sale of products to consumers "by recruiting other
      participants, who themselves are interested in recruitment fees rather
      than the sale of products."(23)"
      ----------------------------------------------------------------------

      Ladies and Gentlemen, I am NOT the "expert" here.. But.. I am a
      fairly intelligent person that can read and write and add and
      subtract, and RESEARCH! Although at times it may appear that I can not
      spell! LOL. I have had debates on issues similar to this in the past,
      whereas interpretations were different, and I can tell you that in the
      past my interpretations were proved correct in court, whenever a case
      that was on topic to the different interpretations was heard. In the
      future, I am confident that we all all see that Prepaid Legal does not
      meet the definition of a Ponzi Scheme or a Pyramid Scheme. I think we
      will see this play out in the federal arena in the near future. Until
      it is decided by the FTC or the SEC that Prepaid Legal is a Ponzi or
      Pyramid Scheme, I think it is wise not to call it one.

      By the way, does anyone know how the Ponzi Scheme got it's name?
      I saw an interesting little documentary on this tonight.


      Rick.




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