Re: Prepaid Legal
Date: January 23, 2010 04:12AM
Yes, it is like keeping legal council on retainer. No, I am not involved with any prepaid legal organization.
You pay a monthly fee and have council/representation as you need it. But, I doubt you would want this if you were in a serious pickle and needed extensive legal representation.
If you get a speed ticket out of state, someone within the national Prepaid Legal network would take up for you.
There are so many lawyers out there, and more waiting in the wings in law school now, that new devices like legal networks are a way for them to find work and not starve. The current market is saturated and new legal concepts must be created and exploited. Thus a new market.
If you are in a medical HMO, your network doctor has agreed to pay less than his/her usual office rate to garner more "traffic". I presume Prepaid Legal is the same type of network, only for legal rep and council.
And yes, it is a MLM distribution of services model. Contrary to what most everyone else on this board thinks, MLM is not bad as long as the "customer" takes the time to research the opportunity and not be manipulated by some over zealous "distributor".
"selling phone services" I believe was Excel. I do not think they are currently in business. Only one product with little consumable goods and thus non return customer base.
Warren Buffett says you must know everything, and he meant everything before entering/buying a business. He was not talking MLM, but the advice covers this model also. Do not buy in unless you want to run a business.