Debt Elimination Success Seminar
Section 1
A Look at Debt
History of Debt
Credit Card History
Current State of Debt
How You Got Into Debt
Good Debt Bad Debt
Business vs. Personal Debt
Section 2 Dealing With Your Money
The Two Step Plan
Doing The Two-Step
Step One
Step Two
The Paths Out of Debt
1- Create a Debt Payment Plan
2- Neogtiate Better Rates & Terms
a.Consolidation Loans
b.Consumer Credit Counseling Services
3- Negotiate Lump-Sum Settlements
4- Bankruptcy
5- The Easy Way
6- Win $1,000,000
Living Debt-Free
Manage Your Money
Make More Money
Save Money
SameMoney-MoreFun
Stay Debt-Free
You as a Business
Section 3 Dealing With Your Creditors
Alerts/Scams
The Credit Industry
Credit Industry
The Fine Print
The Secondary Debt Market
The Debt Collection Process
Original Creditor
The Charge-Off
Collection Agency
Legal Problems
Dirty Creditor Tricks
Dealing with Debt Collectors
Dealing with Debt Collectors
Statute of Limitations
Cease and Desist Letter
Section 4
The Credit Report
The Credit Report
Credit Score
Credit Repair
Section 5
Dealing With Yourself
The Critical Factor
The Art of Prosperity
The End of Failure
Prosperity Coaching
Section 6
Kids and Money
Kids and Money
How to Pay for College
Section 7
Debt Information
Bookstore
Debt Facts
Radio Show
Resources
About Us
Privacy Policy
Site Map
If you find this information helpful I ask you to contribute to help me help more people. You can contribute through PayPal by clicking on this button Or you can mail in your contribution.
|
|
There is so much money to be made that may people have gone on to create whole companies, called asset buyers, dedicated solely to buying and reselling charged-off accounts. And no, they don't buy and sell individual accounts. Your debt is packaged with hundreds of others into a debt portfolio. Imagine hundreds and hundreds of old charged-off accounts many of which are well beyond the Statute of Limitations, doesn't it make you salivate in thinking how you can call and threaten people with legal actions if they don't give you the account number to their checking account. Hey these people probably don't even know about the Statute of Limitations or even know if the account is valid or not but if you can sound convincing enough you can get money out of them.
If you are considering buying a portfolio or two here are some things to keep in mind. There is good money to be made in small debts. Look if you incessantly call someone and tell them they owe three hundred dollars but you'll take one twenty five they might pay you off just to shut you up. It's not worth it to them to fight it. They can probably squeeze it out of next month’s food budget anyway. And if it only cost you fifteen dollars you made an easy hundred. If you go after bigger accounts they're probably going to resist harder and won't have the cash around to pay you.
So if you get a call about a ten year old three hundred debt you now know what they're thinking. Just remember your rights, the Statute of Limitations, and keep your wits when the threats start.
Yes debt buying and selling is a big business. It is estimated that there were five sellers of delinquent debt in 1992. By 1998, that number had grown to 225, and 300 major sellers by 2005. The face value of all such debt sold in 1993 was $1.3 billion. By 1997, that number had grown to $15 billion and sales reached approximately $25 billion in 2000. Yes your debt is worth a lot of money, whether it’s ever collected or not.
