How to Start a Debt Collection Agency

How to Start a Debt Collection Agency Avatar Posted by bigmoneyweb under Raising Capital
From http://bigmoneyweb.com 2394 days ago
Made Hot by: Small Business Tribe on April 6, 2011 3:19 am
For those wondering how to start a collection agency, this industry offers an excellent way to grow your wealth. Debt collection agencies work by collecting debt payments from individuals or businesses that owe debts to banks or stores. Most collection agencies act as creditor agents, and make money by earning a fee off the debt that they collect. While debt collecting in itself is a lucrative field, debt buyers are the ones who see the most rewards. The reason for this is simple – instead of simply earning commission of around 33% on debts collected, you will instead be able to double dip and earn over 100% on every payment that is collected. This is due to the fact that you own the debt rather than simply collect the debt.





Comments


Log in to comment or register here.

This Could Be One of the Most Underestimated Employee Benefits

What's more important than salaries at your small business? Small business owners and entrepreneurs sometimes believe they …
Subscribe

Harry Vaishnav @AngelBiz Is Small Biz Guardian Angel

If you've ever worried that your small business is outdistanced and outclassed by the huge corporate giants around you, … More
Editor's Picks


Have you tried BizSugar's new video posting feature?
Post your small business video to BizSugar today!
Share your small business tips with the community!
It's time to up your game with video on BizSugar!