What are the laws regarding consulting in such a manor?
The laws concerning such can be located at this link for the state of NJ:
"Debt Adjuster" means a person who either (a) acts or offers to act for a consideration as an intermediary between a debtor and his creditors for the purpose of settling, compounding, or otherwise altering the terms of payment of any debts of the debtor, or (b) who, to that end, receives money or other property from the debtor, or on behalf of the debtor, for payment to, or distribution among, the creditors of the debtor.
So, you have to be registered non-profit corporation to have a debt consulting business.
Now, charging them a consultation fee and telling them what they should say would NOT make you a debt adjuster - you could do that without fear of liability. You cannot communicate or negotiate or act in any way as an intermediary between they and the creditors.
So, it would seem that NJ is one of the few states that have or take some type of control of debt consolidation companies and the like.
It would seem that unless you went into the business on a full time basis that it just wouldn't be to your economic benefit to do such - but only you know how much business you could or would generate.
Operating a non-profit business does not mean that it's employees can't make good money. To the contrary, look at the executives of many non-profit companies - ie. Red Cross or the Salvation Army or the United Way - their executives make huge monies.
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