Business Opportunities in Judgement Collections
I am a CPA in RI/MA and I am interested in becoming involved in the business of collecting judgments.
I have received advertising for several $200+ books that suggest that suggest I implement the following business model:
1.Locate uncollected judgments at courthouse
2.Solicit phone inquiries from plaint ifs assignments of the debts by direct mail advertising
3.Purchase SS#'s and credit reports
4.Obtain bank and employment information from other creditors or with $100-300 reports
5.Levy bank accounts, garnish wages, place liens on property.
6.Pay client 50%, retain balance.
I suspect the business is not quite as easy as they suggest. I would greatly value your input on likely pitfalls. Perhaps, you might also suggest a method to propose a mutually beneficial way to become involved with the industry by working with a law firm.
1 Answer from Attorneys
Re: Business Opportunities in Judgement Collections
It certinaly is not as easy as it may seem. Especially becuase there are a few collection attorneys who are already doing what you are thinking about. Call me directly I will give you some further information and also put you in touch with some collection lawyers.