If you have questions about a debt portfolio, such as chain of title, age, the creditor, and a quick tip on collection strategy, I am always willing to look at a masked file and share my thoughts with you.

You can go directly to the original creditor and buy from them, or you can buy through a reseller or broker. You can try your luck on the auction debt trader sites, but you'll be bidding against the top expert buyers. If you need help, I can send you a list of well-respected and trusted " Insider" brokers & resellers who will guide you.

* If you are new at buying debt, you might want to team up with a professional debt buyer to learn from them and help mitigate your risk on the first few buys.

To see the results and you're just starting, I would recommend you spend anywhere between the $5,000 + $50,000 range. If you're going to spend less than 5000, make sure you're getting a decent volume of accounts; I would recommend buying an older shelved portfolio with an average balance of 1500 or more.

Short answer. Yes, but you need to buy your debt in a larger pool of debts.

First, you want to purchase a portfolio with an older charge-off date and a lower principal balance. This is because lower principle and older charge off means a higher rate of return and so has more potential for providing a profit. The best place to start looking for a reliable broker is to reach out to your local bank, credit union's or car dealerships / BHPH, dentist, doctor's office, or law firms, etc.

+ 30 days past due
The ratio of current balances to total balance aged 60+ days
Average age (days) for all accounts aged 0-30, 31-60, 61-90, and 91+
The total amount is written off as bad debt in the last 12 months

I provide business owners with as-needed professional debt collection, accounts receivable management services & consulting that is dedicated to reducing bad debt and slow receivables in an affordable way.

If you're looking to start your own debt collection agency, several factors make the process difficult. You will need a large amount of capital and patience when starting this business because it is highly regulated by federal law.

Purchasing debt through an online auction bidding process is difficult that is why its buying from a private party or direct from the lender. Debt buyers pay on average 3.50 cents for every dollar for debt, but this changes for older debts because they are less likely to be collected on.

The Fair Debt Collection Practices Act is a law that regulates how creditors and collectors interact with consumers.

Debt collectors are always in demand, and for good reason. Debt can be pretty annoying when you're struggling with it yourself- but having an expert handle all of that hassle makes things a lot easier! A debt collection business owner must first obtain customers from originators (lenders), as well as buyers who purchase debts on their behalf to locate the debtor(s). They then need enough energy/time put into communication channels like text messages, phone calls, or emails so they don't get lost amongst other messages; skip tracing where possible via court records if necessary - contact should not go ignored until every last effort has been exhausted.

The process is simple you first have to gather all your debts in a secured excel file, then make sure you have all the necessary information, origination date, last payment amount, DOB, SSN, address, email, phone number, co-signer information, if any, and signed contracts of all the debtor you wish to sell.