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Business Debt/opening up my collection agency out of my home
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Question
Dear, Michelle thank you so very much for taking the time to help me try to reactivate my collection agency out of my home in Orlando, Florida. I got so excited when I saw my letter that I sent you last month on your website as one of your headline questions? As I mentioned earlier, I can't wait to get started and become as successful as you are. I would need your professional guidance to get my Florida corporation renewed. Do I have to start new paper work for a new corp? Would you happen to know of a program for minorities that could help me for a small business loan? How am I able to start with the lowest over head and be able still buy debt blocks at a reasonable prices? There are so many questions I have as you already have experienced. May I have someone email me so that I can talk live over the phone? I've been told that just having my occupational license and corp reactivated in the state of Florida is pretty much all I need to get started right away with a very low overhead. For example: Can I pay the owner of the debt with a certain percentage from the money I collect for him? Would you happen to have some company that would like for me to collect on their old bounced checks for example? I have to contact the ones you emailed me to get info and price to buy the debts. But as I said before with financial situation I'm not able at this point to buy the debt blocks unless I get the business loan. I would really like to contact you live over the phone if possible. Possibly one of your representatives can e-mail me a # where I can call them. I really need to do that 1st before I make my first step in renewing the corporation. I really need some one that can guide me step by step with a start up business plan. Again thank you so very much for your time and support.
Sincerely,
Terry's American Intl Credit services.
Terry,
You can either purchase debt or work on a commission, which ever you would rather do and whichever is something you can afford.
If you would like to talk over the phone, I do offer consulting and would be happy to set up an appointment with you. Please email me privately or check out the options available for consulting at http://www.michelledunn.com/shop/catalog.php?category=4
Yes, you can pay the owner of the debt a percentage if that is the route you decide to take. Make sure you get a signed contract.
Good luck and let me know if you would like a consulting appointment.
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Answers by Expert:
Michelle Dunn
Expertise
As one of the Top 5 Women in Collections, one of the Top 50 Collection Professionals, and winner of the Business Excellence award, I can answer any questions about debt, debt collection, improving business credit, creating a credit policy, enforcing a credit policy and collecting on past due accounts. I can also answer questions in regards to starting a debt collection agency since I have been a bill collector for over 24 years, started and ran my own collection agency for 8 years, and maintain my 12 year old Credit & Collections Association for members of the credit & debt collection industry. I am also the author of the popular and award winning book "Starting a Collection Agency, how to make money collecting money" now on it's 3rd edition. This book has won a the Writers Digest self published award as well as the New York Book Festival Award. I am a repeat contributor to the Wall Street Journal, and have been featured on NPR, CNN, as well as many other national radio and television programs. I have also been featured in national publications such as the Wall Street Journal, Forbes, Smart Money, MSNBC and much more. I have 17 published books to my name and am an accomplished speaker and consultant. I currently write 9 columns for newspapers, magazines and online portals worldwide.
Experience
I have over 24 years experience in debt collection, I started and ran my own collection agency for 8 years and I am the founder & owner of my Credit & Collections Association that I founded in 1998. www.credit-and-collections.com
Organizations
My Credit & Collections Association, I was also a member of the American Collectors Association and Plymouth Chamber of Commerce for 11 years. I am a member of many writing groups as well as my local Women Inspiring Women chapter. I am a member of Know More Media as an expert for their blog on business credit.
Publications
Business NH Magazine, Smart Money Magazine, MSNBC, CNN, Forbes.com, The Wall Street Journal, Home Business Magazine, Entrepreneur Magazine and website, many books, newspapers and television programs as well.
Education/Credentials
I have written 17 books in my collecting money series and one for Entrepreneur Press called the Ultimate Credit and Collections Handbook. My newest book is being published by John Wiley & Sons in May titled, The Guide to Getting Paid, how to weed out bad paying customers, collect on past due balances and avoid bad debt. This book is also being sold to many colleges as a text book.
Awards and Honors
My book Starting a Collection Agency, how to make money collecting money won an award from Writers Digest and the 2007 New York Book Festival in the "How to" category. I have won 2 awards from Dun & Bradstreet and Governor Jean Shaheen. I was nominated as one of the Top 5 Women in Collections twice as well as having been selected as one of Collection Advisor's Top 50 Collection Professionals by my peers.
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