How to Survive the CFPB and Make 120%+
Published: Fri, 09/04/15
The CFPB began receiving consumer complaints in 2011; so far, 385,876. Of that, 2443 were payday loan oriented (0.6%!) Nothing of consequence and yet they continue dog us! Why, because the Bureaucrats despise us; not our customers. [Read online here: http://www.AutomobilePawn.com/?p=619
We're ALL trying to figure out how to deal with the ramifications of the CFPB. It will be 2018 before implementation of any new rules and that date could easily be extended because of lawsuits, elections, technology, competition, Google, mobile phones, FISCA, OLA, CFSA... No one knows what the future holds for our industry other than that MILLIONS of borrowers WANT and NEED access to MONEY!
***************REMINDER*********************************
requested my insights on September 4, 2015. No longer interested?
UNSUBSCRIBE HERE No hard feelings!! And, no tricks. Both of us have ZERO time to waste.
********************************************************
So, what do you do meanwhile? Keep chugging. Keep Lending. Keep building. Add new product offerings - Title Loans are a good example. Continue to meet the needs of the millions of households who need $$ quick and hassle free.
Think of it. You can rent a little office for $400/month. Use a cell phone to run your business. Have a great looking Wordpress website built. Buy a copy machine. Get a license and maybe a bond. A sign, maybe some software and an account with an underwriting bureau... everything you need for less than $5k in most states and START LENDING MONEY ON TITLES AT 120%+ a year to customers who are HAPPY to use your services!
WHERE ELSE CAN YOU EARN THAT KIND OF RETURN ON YOUR MONEY?
Yeah, yeah... I know. All the pundits and "consultants" say you gotta have $250K+ to get started today. B.S! You just have to start SMART. You don't need a $25K website. I'll show you how to get one for $500 that will look great on your customer's phone, laptop, desktop, Ipad... You can get software, when you're ready, for less than $150/month! You don't HAVE to start with ACH. We have stores doing 200 car title loans/month with zero ACH transactions.
Sure, all of these bells and whistles are great! BUT, you don't have to START with complications.
YOU JUST NEED TO START!
But, KNOW THIS: To open a title loan company, you MUST become familiar with the appropriate title loan laws, statutes, legislation, licensing requirements and specific reporting requirements of your state or province.
The easiest way to get this info? GO GET A LOAN! From your biggest, baddest competitor!!
The moment our Car Title Manual was created it became obsolete. (Note: We update both the digital version of our
"How to Open a Car Title Loan Company" and our printed version 4 times each year. It is for this reason we include links to your state regulatory authorities.)
To make serious MONEY lending on titles, Click to read more http://www.AutomobilePawn.com/?p=619
AND, to invest in our "How to Start a Title Loan Company Manual" and read it over the holiday weekend, visit: http://www.AutomobilePawn.com/?p=365 now to download immediately or have it printed and shipped.