//
you're reading...
Uncategorized

What Distressed Debt Buyers Like

In Debt Collecting, Location Matters, so says the headline of a WSJ article. It didn’t talk about business debt but for any business debt below the small claims threshold amount, the statement probably also applies. Want to know the states that distressed debt buyers (aka collection agencies!) prefer. Read this: “Brokers for distressed debt say investors like states such as Illinois, Maryland and New Jersey, where laws permit them to seize assets such as cars, pension payments and a portion of debtors’ wages. Consequently they try to buy loan pools from those states.” The article also references Indiana, Ohio, Virginia, and Minnesota as great states to pursue debt collection in. Hah! This is excellent information to have.

“Brokers say investors shy away from buying bad debt from some other states.”

“Brokers say geography is the single biggest factor in how much debts fetch. Accommodating laws and judges often mean the difference between a profit and loss on debts pursued in court.”

“In states where laws are more favorable to debt collectors, they pay more for such debt. Unpaid consumer debt sells for about seven cents on the dollar in Indiana, compared with two cents in Texas.”

Just be aware. To read more of this full length article, In Debt Collecting, Location Matters, you’ll have to grab Monday’s copy of the WSJ or subscribe to WSJ online.

Advertisements

About Tiffany C. Wright

Hi! I,Tiffany C. Wright, am the author of the ebook, "Help! I Need Money for My Business Now!!" and the book "Solving the Capital Equation: Financing Solutions for Small Businesses", available on Amazon. I am the president of Toca Family Business Services, a short-term & project-based interim management & strategic and financial advisory firm, located in Atlanta, Georgia. In the past five years I've helped small and medium companies restructure and obtain over $31 Million in financing and a similar amount in purchase orders and contracts. I have an MBA in Finance and Entrepreneurial Management from the Wharton School of Business at the University of Pennsylvania and a B.S. in Industrial and Systems Engineering from The Ohio State University. Personal: I enjoy investing. I am a prodigious reader of everything from business books, magazines, and newspapers to horror and popular fiction. I read 4-6 books per month. I also love to travel. I've been to 33 countries on 5 continents and lived in Japan for 2.5 years and aim for a foreign locale twice a year. I am also an athlete and run track on the Master's Circuit. The highlight was placing 7th in my age group in the 2007 World Master's Track and Field Championships in Italy.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

The Resourceful CEO, Tiffany C. Wright

the president of Toca Family Business Services, a strategic and financial advisory firm which provides short-term & project-based C-level management. She is the author of Solving the Financial Equation: Financing Solutions for Small Businesses, available on Amazon.

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1 other follower

%d bloggers like this: