Christine
I just got SPAM with that subject and thought I'd have a look:
http://www.icsliquidates.com/
"The current economy has produced an enormous amount of bad debt. Due to the swell in bad debt losses, banks are pushing debt out of their doors at an earlier stage. This boom in debt has created some attractive opportunities to acquire debt portfolios at lower prices.
The goal is to buy as much debt as possible, work it aggressively and to then allow our rebounding economy to help drive payments through the door.
For people new to buying distressed debt, this opportunity is ideally suited for you. And for those who know about this industry are aware that getting in the industry is hard, unless you are an Attorney or Collection Agency.
Bad debt in America is anticipated to grow from 1.3 trillion today to more than 5.7 trillion by 2008."
and
"The sales of distressed debt has surged from 3billion in 1991 to 33 billion in 2001."
and
"ANTICIPATED RETURN
The anticipated investor(s) return can be determined as follows.
Example;
Total Income
$25,000 portfolio of credit card debt for .05 cents on the dollar or for 5%. Total cash outlay for this debt would be $1,250.00
We are able to collect 22% of the purchased debt or $5,500.00
Our expenses associated with the collection of this portfolio was 18% of the total collected or $990.
Given the above total income from this portfolio would be $4,510.00
Investors Return
Using the same example Actual Return to the investor would be determined as follows;
Under 65/35 split $2,931.50 would go to the investor(s). "
Of course this is NOT an endorsement, just thought it was interesting how little they pay for bad debts and what a lucrative business they claim it is.
http://www.icsliquidates.com/
"The current economy has produced an enormous amount of bad debt. Due to the swell in bad debt losses, banks are pushing debt out of their doors at an earlier stage. This boom in debt has created some attractive opportunities to acquire debt portfolios at lower prices.
The goal is to buy as much debt as possible, work it aggressively and to then allow our rebounding economy to help drive payments through the door.
For people new to buying distressed debt, this opportunity is ideally suited for you. And for those who know about this industry are aware that getting in the industry is hard, unless you are an Attorney or Collection Agency.
Bad debt in America is anticipated to grow from 1.3 trillion today to more than 5.7 trillion by 2008."
and
"The sales of distressed debt has surged from 3billion in 1991 to 33 billion in 2001."
and
"ANTICIPATED RETURN
The anticipated investor(s) return can be determined as follows.
Example;
Total Income
$25,000 portfolio of credit card debt for .05 cents on the dollar or for 5%. Total cash outlay for this debt would be $1,250.00
We are able to collect 22% of the purchased debt or $5,500.00
Our expenses associated with the collection of this portfolio was 18% of the total collected or $990.
Given the above total income from this portfolio would be $4,510.00
Investors Return
Using the same example Actual Return to the investor would be determined as follows;
Under 65/35 split $2,931.50 would go to the investor(s). "
Of course this is NOT an endorsement, just thought it was interesting how little they pay for bad debts and what a lucrative business they claim it is.