2006-06-29 06:23:44 · 5 answers · asked by Anonymous in Business & Finance ➔ Investing
the debt I'm speaking of is for example credit card debt, auto loan debt, wireless debt - basically company charge-offs
2006-06-29 06:45:00 · update #1
Yes, returns are high ON ACCOUNTS THAT PERFORM. And not all accounts do.
2006-06-29 07:22:51 · answer #1 · answered by NC 7 · 0⤊ 0⤋
Debt purchasing is big business. At least one national brokerage house operates one of these firms that buy packages of write offs from the credit card companies for pennies on the dollar. They use attack dog collectors to hound debtors into paying. Asset Acceptance, Resurgent, Sherman Acquisitions are just a few. There is good money in it, but it is such a dirty business, and it does force people into bankruptcy when they put the pressure on.
2006-06-29 17:10:33 · answer #2 · answered by Know it all 1 · 0⤊ 0⤋
Hire a Debt Counselor:
http://www.askaquery.com/Answers/qn1584.html
2006-07-03 03:27:12 · answer #3 · answered by Gem 1 · 0⤊ 0⤋
I assume you are talking about a tax sale. The info on the internet is mostly county and state specific. You should check your local websites. I have never heard of anyone making 30%. In my state it is 18%.
As far as I know there is not much risk involved. If they do not pay you, you do not lose your money. If they don't pay up, you get their house.
2006-06-29 13:35:17 · answer #4 · answered by jlamb_2000 2 · 0⤊ 0⤋
my friend is doing this, and yes, that is true they are high in return. But the risk are very high also, you could lose money when the people who owe you couldnt pay and declare a bankruptcy
2006-06-29 13:27:02 · answer #5 · answered by webdesign and programming expert 1 · 0⤊ 0⤋