Entry costs vary depending on the "vintage" (age) and type of debt.
: While some small batches can be found for $1,000 to $10,000 , institutional-grade operations often require $7 million to $15 million in working capital for their first 18 months. how to buy consumer debt
The Investor’s Guide to Buying Consumer Debt Buying consumer debt—such as unpaid credit card balances, medical bills, or auto loans—involves purchasing "charged-off" accounts from original creditors at a significant discount. Investors aim to profit by collecting more than the purchase price, which can be as low as of the debt's face value. 1. Establish Your Business Entity Entry costs vary depending on the "vintage" (age)
: Register for a Federal Employer Identification Number (EIN) via the IRS. 000 to $10
