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I wish to become a JDB


TheLookingGlass
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If it were only that easy :p

Actually JDBs usually buy portfolios of charged off accounts rather than individually. Let's say there's 5,000 accounts in a portfolio from, say Cap1, and the balance on each account is $4,000.

That's a portfolio containing $2,000,000 of receivables. Now say they pay 25 cents on the dollar. That's $500,000 they'd pay to Cap1.

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Actually the price can fall below a penny on a dollar---any who care to can check out the asset acceptance web site. The important think to remember is that almost none of this debt is validatable--they simply depend on the ignorance of consumers---and collect in as few as one in twenty tries.

The other thing to remember is that documentation costs extra--few junk debt buyers bother to pay extra.-----but when the price is in the sub two cents range its often been through two or three other collection agencies.

But they call this junk debt a portfolio-----I call it garbage.

Usually one DV letter will clarify that fact--accept no inferior substitutes for debt validation.

But over on the collector boards, they are moaning and groaning that the price for junk debt has risen to a overpriced level and some are starting to lose money.--so they must redouble efforts.

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