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momof5

The real cost of your debt to Providian!!!

7 posts in this topic

Found on CI.com:

Available for immediate sale, 2-3 agency Providian portfolio purchased directly from Unifund. The portfolio contains 622 accounts totalling $1,017,819.28, average chargeoff date 10/17/2000.

GREAT AVERAGE BALANCE = $1,636!!!!!!

Debtors located in GA, ME, RI, NJ, NY, PA, DE, DC, SC, MS, OH, MI, WI, MT, IL, MO, NE, TX, NV, OR & AR. Accounts worked internally by telephone only, no blanket settlement letters, not scored for legal. There is still a lot of opportunity left here, we purchased direct from Unifund and are unloading early as part of a change in our overall purchasing strategy from sub-prime to prime. This is a great opportunity for anyone who has success with underworked sub-prime paper.

Please contact me by e-mail or phone if interested.

Jason R. Trowbridge

Vice President

Lindquist & Trudeau, Inc.

Phone: (713) 395-1481 ext. 462

E-mail: jt@topgunsrus.com

Fax: (713) 395-1496

and the response to a question - what are you charging?:

Quote

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Originally posted by: collector1

What are you charging?

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We are looking for 2.35 cents for the whole portfolio or 2.5 cents if segmented.

Jason Trowbridge

:shock::shock:

So some jerkoff CA is going to buy $1M of bad paper for 2.35 CENTS for the WHOLE portfolio!

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I'd bet that's 2.35 cents per dollar...in other words, $23,918.75 for the entire package.

Even that's just like stealing...all you have to do is get 15 average balance people to pay and you got your money back. That only 2% of the accounts!!!

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oh man! we should all get together and buy this stuff, ask everyone who has one of these 'accounts' to pay $20 (processing fee) and get them all updated to paid as agreed!!!

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You know, I've given this all some thought...even if we did buy the debt, and collected enough to cover our expenses, and removed ourselves from the debtors CR, what could we do about the OC's TL? Getting the CA off the report would help, but its not really enough...

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well, if we owned the debt, the OCs would all have to report a $0 balance, which would be a start.. i dunno, it seems like a good idea, but i dont know the logistics of it all..

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we all go together.. buy the accounts.. tell all the consumers who owe money that we will add the TL to their account as a positive TL... paid as agreed.. and charge them 50 bucks..

How much would we make???

LOL 8-)

I'm kidding but think about it............

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