Upon purchase, you receive a "data tape" with borrower names, account numbers, and balances.
Never buy a portfolio without checking for "red flags" like missing original contracts or accounts that have already been through multiple collection cycles (tertiary paper). how to buy debt for collection
Lenders bundle thousands of delinquent accounts (credit cards, medical bills, personal loans) into portfolios. Upon purchase, you receive a "data tape" with
Organizations like the Receivables Management Association International (RMAI) offer certification programs that provide access to annual conferences where many deals are negotiated. 3. Legal and Compliance Requirements how to buy debt for collection