The Debt Buying and Debt Collection Industry are estimated at 15 Billion Dollars per year, in the US alone. It is interesting to note that with such a large industry, very few consumers have any idea that it even exists. Well, collections yes, but actual Debt Buying as an investment takes place every day by just average consumers looking for an opportunity to get a better return on their money.
So sophisticated has this industry become that many companies specialize in offering Charged off debt as an investment as their whole business. They can predict the success rate with scientific accuracy and therefore even guarantee the rate of return before hand.
If you do a Google search on "Investing in Collection Debt" you may find it returns as many as 50 million websites. Staggering to say the least. Considering the terrible state of todays economy, with banks returning a measly 1%, Debt Buying has become safer in many cases than investing in stocks, and far more lucrative.
Considering that debt buying and investing has become so mainstream in investment circles, it was just a matter of time before someone connected the dots, to the benefit of the debt oppressed consumer and the debt buyers. The Debt Restructure Group has achieved just that. The program is software driven, so that a consumer who is heading for a bad debt situation, enrolls in the program and agrees to pay back approximately 55% of the original debt in affordable monthly payments. Their creditors are listed in their own software platform, where they can make updates, additions and deletions, and deal with customer service issues as they come up. Debt Buyers, looking to invest in collection debt, can confidentially contact the consumers creditors and make settlement offers. If an offer is accepted by the collector and the consumer, then the debt buyer purchases the debt for one payment to the debt collector.
The advantage of this approach is that the consumer now has a less adversarial collector to deal with, and the Debt Buyer already knows the terms that he or she will be paid back at. This stops the collection calls and harassment to the consumer, and a win win situation occurs. In addition, the consumer gets to monitor their account progress through their own software log in. Another benefit, is that this Debt Restructuring approach can take place faster than a conventional Debt Settlements approach, where generally, no settlements take place until their is an appropriate build up of cash in the consumers escrow account.
Finally, the consumer is provided with full legal protection just in case a creditor files a lawsuit against them, until their debt is resolved.
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Written By:
Steven Ciantro
Certified Credit Counselor
American Debt Enders
help@americandebtenders.com
877-766-2465
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