anyone here use www.prepaidlegal.com

[chewyxrage]

MLM scam much like Amway...

"In New York, a class-action lawsuit was filed against PrePaid Legal Services. The state attorney in New York also is investigating the company, according to published reports.

New Jersey-based analyst David Rocker refers to PrePaid Legal as a multilevel marketing company.

Rocker said the company doesn't provide the legal services it claims.

Sales associates must become members, Rocker said. Rocker said statistics for the third quarter of 2002 show an alarming cancellation rate among clients and the member sales associates.

Rocker said 168,477 people canceled their membership, 85 percent of new signups.

"Such cancellations seem to reflect the growing public awareness of how little is actually covered by PrePaid," Rocker said in an Internet chat room in RealMoneyPro.com, where traders and analysts give market information."

http://orig.clarionledger.com/news/0212/02/m05.html

there is a lot on the net about them.


flash

Just because a company is MLM doesn't mean it's a scam. There are solid companies based on that MLM plans. With an 85% cancellation rate this one sounds shady though. These are members cancelling who have already paid? Or are "affiliates" to market the company?

 

[Razorguns]

I'd love to hear a story from someone, just ANYONE, trying to collect on their services.

I'd love to hear all the various excuses, loopholes, and other barriers the company uses to get out of rendering the services expected.

"I'm sorry sir. But you have to call between the hours of 12:01 and 12:02 to register your request..."

 

[bran987]

I'd love to hear a story from someone, just ANYONE, trying to collect on their services.

I'd love to hear all the various excuses, loopholes, and other barriers the company uses to get out of rendering the services expected.

"I'm sorry sir. But you have to call between the hours of 12:01 and 12:02 to register your request..."

yeah, like insurance companies.

lawyers who collection insurance premiums. I bet Matt would have something really interesting to say about that.

 

[juiceddreadlocks]

Just because a company is MLM doesn't mean it's a scam. There are solid companies based on that MLM plans. With an 85% cancellation rate this one sounds shady though. These are members cancelling who have already paid? Or are "affiliates" to market the company?

IMO Amsoil is a very reputable MLM companyq

 

[bran987]

http://www.fool.com/News/mft/2005/mft05072620.htm?ref=foolwatch

 

[chewyxrage]

http://www.fool.com/News/mft/2005/mft05072620.htm?ref=foolwatch

Interesting. No mention of if the company is provided the services people are paying for which I'm curious about. It talked new member numbers but not cancellations....either way looks like they are making some money