Quote:
Originally posted by Herb Kornfield
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.
|
He's willing to take a percentage on the debts, not buy them.
I'm sure it will be a lot of work, and yes some debtors are very smart and would simply send a cease and desist, attorney general complaints are doubtful if they did infact make the charge just because of what type of charge it is...that's just my opinion.
As far as harrassment goes, as long as you follow the FDCPA then you should not have any problems, and of course that all varies by state, and I can assure you...he knows the rules =)
The debtors should be someone you're just about POSITIVE made the charge...otherwise it obviously can't be collected. Porn is not a NEW area to him, since they've had webhouse accounts...but again the company never gave it the full attention and he feels there is a lot of uncollected money out there that can infact, be collected. I agree. =)
Shannon