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Debt Recovery

lawyer2blawyer2b subscriber Posts: 1
edited November 2006 in Thought Leadership
Hello everyone, I am a newbie.  Does anyone know anythiing about the debt recovery business?  Any information regarding this would be appreciated. 


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    brainsbrains subscriber Posts: 0
    The debt recovery agents buy your debt register off you for cents in the dollar and they then persue your debitors seperatly.
    The agencies can be very agressive with your ex customers, you would want to make sure that you can lose these customers with out destroying your referral networks.
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    SecondHandRoseSecondHandRose subscriber Posts: 3
    For all the people that applied for a S.B.A. business loan and got rejected has anyone gotting a review your request for reactivated.  What excatly does this mean?
    Yours Truly,                                                                                 Rose M. Palinkas        &nbs p;         &nbs p;         &nbs p;         &nbs p;         &nbs p;      http://secondhandroseboutique.com</A>SecondHandRose2006-11-25 21:41:40
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    LifeStoryBobLifeStoryBob subscriber Posts: 0
    About debt recovery - there are two distinct types of agencies that can assist you. Commercial and Personal - very different breeds of collection and laws that provide restrictions - but I am not an Attorney
    The commercial Debt Recovery Buisiness is great - they work for your company on a case by case basis - if they get results they keep their percentage of the recovered amount and some are quite aggressive. The more reliable one`s will allow you to specify the aggressivness. If you want them to come down hard and collect the funds with threat of lawsuit or worse, they will - if you are interested in retaining the client then a softer approach is used (in the beginning).
    You can lose clients by being too aggressive and you should always attempt to work out a debt recovery solution yourself - initially. If you do not succeed and the chump is trying to get away with your money and it appears has no intention of paying - I would call in the pros.
    I sold commercial debt recovery for a time about 7 years ago, when I wanted to hone up on my telephone sales skills. Not a career for me but was a great wake up call and provided me with a lot of respect for an industry with a really lousy public image. They get the job done and you get at least a portion of your just due.
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