Starting a Collection Agency How to make money collecting money Third Edition

Debt Collectors are a vital part of the American Economy and here are the numbers to prove it. Debt collectors have a bad rap but debt collection is crucial to an efficient market economy. Total consumer bad debt costs every adult in the US $683 every year. For the average non-supervisory worker thats nearly 54 hours of work (before taxes) a year. Outstanding credit card debt is nearly three quarters of one trillion dollars. Total consumer debt, including home mortgages, exceeds $9 trillion. Starting a Collection Agency, How to make money collecting money by Michelle Dunn is a winner of the New York Book Festival and Writer s Digest Award. The only award-winning comprehensive book on how to start and manage a collection service. Everything from state laws to what kind of equipment you will need. Its chapters include legal requirements, licenses and regulations, where to find clients, fair debt collection practices, Fair Credit Reporting Act, skip tracing, buying debt, bad checks, and software. With this book you will: Be able to start your own business and be your own boss. Find samples of business and marketing plans. Find collection letters, flyers & promotional pieces. Have a checklist of what to do before you open your agency. Learn how to start your agency from home. Learn how to work from home with young children around. Learn how to promote your agency in a professional manner. With the economy failing the need for collection agencies is growing, help our economy and help consumers and business owners everywhere when you can help them by collecting the money that is owed to them and help people get out of debt.
User Ratings and Reviews
5 Stars A Real Pro Comes Shining Through
Michelle Dunn is a real pro when it comes to collections. How do I know? Because I could see her bio on the book? No. Because Michelle has put together a very solid work on how to start and run your own money collection agency.
We I got the opportunity to read this book for review I thought it would be a bit of a challenge because of the specificity of its subject. It is really a targeted book, that’s for sure. I wouldn’t have thought that there would have been much in it for the casual reader. But actually, I found this tome a wealth of information on everything from how to start up your business to how to network at the local chamber of commerce to how to find your first accounts to how to hire and outsource your work! There are ideas in this for any business owner to tell the truth.
Being a business owner who has had to deal with debt in the past - a business owner who is looking forward to the rest of this recession / depression that the world is in, I was especially interested in the techniques and form letters that Michelle describes in her book on how to actually go about collecting the money from the debtors. She also covers the different types of collecting accounts: Ones in which you get a percentage of your recovery and ones where you actually buy the debt in advance. (On the latter the author provides a complete list of websites where the novice could look up each US state’s laws on this type of collection.)
And not to go too much on a tangent but Michelle Dunn even gives publicity tips and provides a long list of websites where you can post press releases about your services. This alone would be worth the price of the book for anyone who was looking not only to set up their own collection agency but also their own business.
Going back to what I alluded to at the beginning, Michelle Dunn has impressive credentials when it comes to running collection agencies. She’s an entrepreneur and she has lots of mentoring that she can offer to anyone who would like to follow in her footsteps. Starting a Collection Agency is a work I am sure that she is proud of and if you are interested in this field, or just interested in starting a company, give this book at least a once over.
5 Stars Writer’s Digest Review
“If one ever had any idea about starting a collection agency, here is the ultimate guide for getting going as well as maintaining the agency and enjoying success. The idea (per the explicit subtitle) of making money collecting money should garner lots more readers who never even thought of such a possibility. Using her considerable experience in the business, Michelle Dunn comes from all angles to answer all questions and then some to help a beginner set up from the get-go. This comprehensive book is accessible, very readable, easy to follow; the resource lists, web sites, state contacts, questions and answers all make this a vital how-to. Ms. Dunn’s book may add status and credibility to an industry that has historically received a bad rap. ” - Writer’s Digest
5 Stars A Step by Step Approach of Creating a Successful Business
Michelle Dunn’s, 3rd edition of Starting a Collection Agency, is a complete instructional guide written so even the novice entrepreneur would find it easy to follow. This step by step, “How-to” approach carves an easy path to success.
I would highly recommend this book not only to anyone interested in starting a collection agency but also to those willing to follow Michelle’s model for any other business. Michelle’s gift is to simplify a business approach that will help others succeed…..and she does it exceedingly well.
5 Stars All anyone needs to start their own company in this field
No one likes bill collectors, but they are a necessary evil to the continued financial prosperity of America. “Starting a Collection Agency: How to Make Money Collecting Money” is a guide to being what is viewed as many as the bad guy, but in fact is just something that must be done. Outlining all anyone needs to start their own company in this field, it leaves nothing to guesswork, covering everything from the frivolous as the stationary, to the advanced tactics of professional promotion. “Starting a Collection Agency: How to Make Money Collecting Money” is highly recommended for anyone looking to start their own business, and doesn’t mind being viewed as the bad guy to do so.
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