Well, this is a subject that most people hope to avoid, but if you run a business where people pay you for a product or service, there might come a time where you have to get tough in order to collect the money you are owed. That’s where a commercial collection agency can help. Miller, Ross and Goldman provide commercial debt collection and nationwide legal support to businesses that find themselves needing to collect on debts. They even have a searchable database of over 200,00 known delinquent commercial debtors. Now there’s a list no one should ever want to be on!
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There’s some easy money to be made by buying ‘good’ debt cheaply. I believe you can get it for 10% or less. eg. Say someone owes the bank $200 but the bank hasn’t been able to chase it up and they decide to sell this debt to a collector. The would probably sell it at $10 to $20. So if the debt collector can have a success rate of 10%+ at collecting debt then they stand to make easy money.
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