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Thanks for giving some insight into that process. I'd rather be patient and take on 'human' risk, which for some reason I feel more comfortable with. I'm proba
by kart23 7y ago
Thanks for giving some insight into that process. I'd rather be patient and take on 'human' risk, which for some reason I feel more comfortable with.
I'm probably being overly idyllic, but I just imagine being friendly and reasonable with people and their situations might go a long way, especially reaffirming that you're not some massive bank that doesn't give a shit.
- invalidOrTaken 7y ago1. Buy cheap debt. 2. Call debtors and offer to teach them to code. 3. Walk them through interviews, etc. 4. Collect! I don't know if that particular path is viable, but I am somewhat taken by the idea of making money by/while helping people out.
- kart23 7y agoI like the concept. Honestly I think the toughest part is buying the debt. I tried to do some research, but I'm even more confused how people do it. Do they just call up a bank and ask for some debt? Is there some online exchange for debt? California doesn't require a license or anything to buy debt, so in theory I should be able to, but I'm not sure exactly how to.
- HeyLaughingBoy 7y agoI did some quick research and it does look like it's a lot harder to buy debt these days than it used to be. Which is a good thing: there were/are a lot of shady characters involved. Anyway, links: https://proleadbrokersusa.com/cheap-debt-portfolios-for-sale/ https://proleadbrokersusa.com/cheap-debt-portfolios-for-sale... https://www.accountsrecovery.net/portfolios-for-sale/ https://www.accountsrecovery.net/portfolios-for-sale/ https://www.debttrader.com/buy/ https://www.debttrader.com/buy/ Caveat emptor.