request for service is recorded
as a specific member request,
which may include telephone
letters and other
addition to these top five legal
services request categories, PPD
plans include a broad range of
other legal services, such as
will preparation, trial defense
benefits and IRS audit legal
In total, the requests for service were from individual, group and business plan members of Pre-Paid Legal Service's legal service plans.
The specific breakdown of requests for service from these members (by percentage of total requests) include:
members - 78%
Legal Services Top Five List is
intended to be a 'snap-shot' of
the issues that legal service
plan members are facing today,
and given the economic hardships
that so many Americans are
experiencing, it's not a pretty
picture," said Pre-Paid Legal
Services Founder and CEO Harland
"Fortunately, we have ongoing
relationships with a nationwide
network of superior independent
law firms that proactively
respond to our member requests
for service on a daily basis."
The top five legal service requests are based on the following:
Debt Collection - includes legal assistance to support our members against
other parties and defending members from third-party debt collectors.
Foreclosure/Eviction - represents legal service to protect members from
foreclosure/eviction and support for members in tenant eviction.
Family Law - includes legal services related to divorce, child support, child
custody and child visitation.
Bankruptcy - includes personal and business bankruptcy.
Employment Issues - includes termination, wrongful termination, layoffs, unemployment compensation, severance agreements and employee vs. independent contractor issues.
The Pre-Paid Legal Services Top Five List is based on data collected at the provider law firms and shared with PPD.
This information does not include any details regarding specific conversations or consultations between members and provider attorneys. PPD does, however, maintain a rigorous monitoring system which provides feedback on the "customer service" experience of PPD members with the provider law firms. This is one of the distinguishing characteristics of the PPD's legal service plan model. The median tenure for provider law firms in the PPD network is more than 10 years.
Pre-Paid Legal Services was one of the first companies in the United States organized solely to design, underwrite and market legal service plans. We provide legal services to more than 1.5 million families across the U.S. and Canada. Plan benefits are delivered through a network of independent provider law firms.
Members have direct, toll-free access to their provider law firm. Provider firms are carefully selected and quality of service is closely monitored to maintain the high standards of Pre-Paid Legal. The company website is: www.prepaidlegal.com.
Statements in this press release, other than purely historical information, regarding our future plans and objectives and expected operating results, dividends and share repurchases and statements of the assumptions underlying such statements, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements contained herein are based on certain assumptions that may not be correct. They are subject to risks and uncertainties incident to our business
that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described in the reports and statements filed by us with the Securities and Exchange
Commission, including (among others) those listed in our Form 10-K, Form 10-Q and Form 8-K, and include the risks that our membership persistency or renewal rates may decline, that we may not be able to continue to grow our memberships and earnings, that we are dependent on the continued active participation of our principal executive officer, that pending or future litigation may have a material adverse effect on us if resolved unfavorably to us, that we may have compromises of our information security, that during an economic downturn in the economy consumer purchases of discretionary items may be affected which could materially harm our sales, retention rates, profitability and financial condition, that we could be adversely affected by regulatory developments, that competition could adversely affect us, that we are substantially dependent on our marketing force, that our stock price may be affected by short sellers, that we have been unable to increase our employee group membership sales and that our active premium in force is not indicative of future revenue as a result of changes in active memberships from cancellations and additional membership sales. Please refer to pages 15 - 17 of our 2008 Form 10-K and pages 7 and 8 of our June 30, 2009 Form 10-Q for a more complete description of these risks. We undertake no duty to update any of the forward-looking statements in this release.