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Is your freind purchasing these debts from site operators or just willing to take a percentage based on what is collected from the debtor?
From working in collections for 7+ years many moons ago there are a lot of debtors out there that are quite slick. Harassment issues, fradulent purchase claims and documentation requests to delay paying and then the attorney general complaints that just kill all contact with the debtors.
Also, the original credit cards would be looking for the same money anyway if the person skipped on paying the CC company bringing up double collection issues....
Nice idea however.....Just a lot of work to implement and manage it effectively.
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