Interested in winning the debt buying game? Well you come to the right place!

I'm here to tell you about the things I've done and know how to do in order to make a lot of money as a debt buyer. It's not easy, but if you're willing to put the work in, then it will pay off for you too!

We can also talk about my new upcoming book that teaches people how they can get into this business too and learn about portfolio evaluation, COT, investment criteria(s) etc.

I hope this blog was interesting for you and would love your feedback below.

Investors are always looking for the next big score. With interest rates so low, it's difficult to find a place where your money will grow. But what if I told you there was a way to make an average of low to mid tens annually on your money? Interested in winning the debt buying game? Well you come to the right place!

Debt buyers buy up unpaid credit card and other types of consumer debt for pennies on the dollar from lenders who have given up hope that they'll ever see their money again. The debt buyers will then place out to collection agencies to collect these debts by using various methods including text messages, phone calls, letters, emails - whatever it takes abiding all laws & regulations who overseeing by FTC and Consumer Financial Protection Bureau. *

What is a debt broker.png
The best time to buy or sell a debt portfolio is when it's in high demand.
for an evaluation of your debt and potential recommendations on debt auction sites.

What is a Debt Broker?

A debt collections broker is someone who has the credibility to represent other debt buyers and debt sellers in the debt sales transaction. The process of collecting these debts or receivables can be broken down into three parts: finding the debt, conducting the right due diligence, and negotiating the deal between the two parties. A good debt broker will have experience in all three areas so they know how to navigate every situation.

What is a debt buyer.png
The best time to buy or sell a debt portfolio is when it's in high demand.
for an evaluation of your debt and potential recommendations on debt auction sites.

So... What really is a Debt Buyer?

That's an excellent question. I'll answer it for you right now. If you're like most people, then your first thought might be that debt buyer (s) are about to cast a net out and buy all the debt they can get their hands on - but this couldn't be further from the truth. In reality, debt buyers are companies who purchase performing, unpaid A/R or defaulted loans; asset class or type of debt .. credit card, DDA, installment loans, auto, medical bills from banks, and other original creditors for cents on the dollar. They often do this because these loans have already been deemed too risky by traditional lenders. So... what does a Debt Buyer do with these debts? They usually place out to credited third-party collection agency who are members receivables management association or the accounts receivable management, better know as ACA International, or RMAi -
Receivables Management Association International
who members are licensed and bonded every State which they are legally allowed to collect in.


Lender.png
The best time to buy or sell a debt portfolio is when it's in high demand.
for an evaluation of your debt and potential recommendations on debt auction sites.

What is a Debt Seller?

Debt sellers are private individuals or debt buying companies that purchase debt from banks, credit card companies, or other lenders. They then try to recover the money owed on the loan by collecting payments directly from the debtor. If they can't collect a payment, they sell it back at the face value to the originating lender or other accredited debt buyers or third-party collection for a fraction of what they paid for it. * depending on their PSA terms with the original creditor.
Debt buyers have become more and more popular in recent years as an alternative way to make money, especially during these tough economic times when many people are looking for some extra income. There is no shortage of debt out there that needs to be collected by someone - if you're considering becoming a debt buyer I would recommend reaching out to me so you know exactly how much work it takes before deciding whether or not this is right for you!

Are you interested in learning more about the industry or a first-time buyer? Do you want to sell your charge-off accounts? You can find me at my personal website
and book an appointment with me!

Latest Feature Articles on Debt Buying & Debt Collections Technology



Debt For Sale.png
The best time to buy or sell a debt portfolio is when it's in high demand.
for an evaluation of your debt and potential recommendations on debt auction sites.

The 2021 List Performing and Non-Performing & Charge-Off Debt Portfolios
0
Asset Class
Debt Face Value
Average Balance
Contact Information
1
Credit Card
$10mm
1,600
2
RTO
$6.6mm
1,750
3
Installment Loans
$3.6mm
1,221
4
Credit Card
$25mm
2,800
5
CREs
$50mm
6
Mortgage Notes
$20mm
7
Payday Loans
$5mm
There are no rows in this table
* All listed portfolios have clean COT, and media is available upon request. Should you be interested in buying or selling debt, please schedule a call with me to discuss the specifics.

Schedule a 15 minute a call....png
The best time to buy or sell a debt portfolio is when it's in high demand.
for an evaluation of your debt and potential recommendations on debt auction sites.

Do you want to buy or sell your debt?




Debt buying is an intriguing way to make some extra cash, but it does come with its own risks. If you're thinking about getting into the game, then these are a few things worth knowing before too long:

-Be careful when deciding what type of debt buyers will work best for your situation
-You may want to stick with one company if possible and avoid changing up who you buy from often or else there's a risk that they'll get their records mixed together which could lead to
“errors in miscalculation down the line”
.

How to Buy Debt 101 intro

I am a sucker for oldie but goodies.
I love to take my own spin on them, updating the clothes and putting some new music into it! It is always so much fun when I can do something different with an old favorite of mine like "Home Alone.”

Check out the mechanics of Debt Buying


Think about the debt you're buying as a used car. Would you buy it without knowing how much mileage is on its engine, or what condition the upholstery and paint are in? A little due diligence now will save time later when considering whether to cut your losses (or maybe even sue them). Ask these questions:



Quick Diligence Process you should asked the debt seller or lender about:


Type of Debt - Asset Class
Debt Face Value
Debt Age
Agency level
How long the file has been shelved
Chain of title ( ask to review after you sign an NDA and offer an LOI to purchase )
Previous collection tactics
Copies of the signed contract or checks and the billing statement etc.


The data from the masked file included a lot of details about individual accounts. The most important thing to note was things like account number, loan amount, and average balance at the time of origination. Those three categories will be used for analysis in this post. However, you may want to review some other fields that can provide additional insight into what is going on with these loans: debtor states and zipcodes, DOB, Credit Score etc.



Debt Buying Process - Things to look for and analyze in the masked data file:

Original account numbers
Original loan amount
Overall average account balance
Original loan date
Last payment date
Charge off date
Debtor States
Zipcodes

After purchasing the file you will be offered an unmasked and uncompressed version of it in a secure FTP server that is password protected. What you should look for are: Social Security Numbers, Date of Births, Phone numbers too! You'll also find Addresses and Ref Name/Numbers as well I listed all the unmasked data fields below.


An unmasked file including the above data:

Social Security Numbers
Date of Birth
Phone Numbers
Addresses
Ref Name
Ref Numbers
Ref Address
Employer
Media ( copies of the signed contract ) or check or billing statement
Account Dates
Account Life Cycle
Bank Card Type
Credit Reporting Life
Delinquency Year
Genders
Last Known Consumer Activity Year
Last Payment Year
Open Year
States: Excluding No-Collect
States: No Collect Only
Statute of Limitations Life
Time Zones

Looking to place debt? Before you do so check out my article on Insiders Secrets!



Debt Buyers FAQs Facts & Statistics

Debt buyers purchase debt for pennies on the dollar
Due to Cov19 debt purchased by debt buyers has skyrocketed

Debt buyers pursue “zombie debts”
Debt buyers purchase accounts in bulk.

Debt buyers are companies that purchase debts from original creditors, intermediaries, or other debt buyers

A study by the FTC found that nearly 25% of debt acquired from the original creditor, and more than 60% of debt purchased from other debt buyers was over three years old at the time of purchase.

Debt buyers either try to collect the debts themselves, place debts with collection agencies for collection, or sell the debts to other debt buyers

General Questions New Debt Buyer Investors Ask!

1. What are the most common debt collection methods?
2. How much does it cost to purchase a debt?
3. How much money can I make on my investments in buying debts?
4. Do you think that the responsibility of paying off debts should be shared by creditors themselves?


Top Searches on Google

Consumer Financial Protection Bureau
Fair Debt Collection Practices
Third Party Debt Collector
Credit Report
Accounts Receivable Management Industry
Debt Buyers Association
What is debt purchasing?
Accounts Receivable Management Industry
Industry Best Practices
Buying Bad Debt write off?
How do Buy Debt?
Selling Debt Portfolio?
Buying Debt Portfolio?
Buying Medical Debt Portfolios?
Selling Medial Debt Portfolios?
Finding a Debt Broker
Debt For Sale
Selling Charge-off Debt
Hire a Debt Collection Agency
Buy Single Debt
Sell Commercial Debt Portfolios
How to Buy Notes
Note Broker
Zombie Debt Buyer
Delinquent Debt
Credit Card Debt
Consumer Debt
Personal Loans
Auto Loans
Student Loans


Conclusion

A debt broker is someone who provides credibility to represent other debt buyers and sellers in the transaction. The process of collecting these debts can be broken down into three parts: finding, conducting due diligence, and negotiating between the two parties. A good debt broker will have experience in all three areas so they know how to navigate every situation.
for more information on my services or contact me today!

Funny but True Quotes from “The Don of Debt ” - Be Aware before you buy!

Beware of Joker Brokers... Many out there always looking to scam you out of your money... - Don of Debt

No such thing as a bad debt portfolio just bad pricing! - Don of Debt

Charge off dates are the biggest misconception in evaluating portfolios... - Don of Debt

Are you new to Debt Buying or Do you want to Buy Debt? No worries I can help but first c
heck out my Free debt buyer guide on the
debt buying industry
:
...



If you’re interested in sales, selling or buying performing, nonperforming, or charged-off debt
.
.. you can reach me on my personal page



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