All The Money You Need

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.

Buy/More Info

How to Repair Your Credit Score Now Simple No Cost Methods You Can Put to Use Today

Your credit score affects every aspect of your financial life including qualifying for loans and mortgages, low interest rates, housing, employment opportunities, and even insurance premiums. Millions of Americans have negative, inaccurate, and unverifiable information on their credit report. Repairing your credit profile is one of the most important financial decisions you can make. You re about to take the important step of taking control of your credit! If you re like the average American, having improved credit will save you thousands of dollars on your loans and credit cards. You do not need a credit repair clinic. Save the money. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost using the plan in this new book. There are federal laws in place to make sure that you can repair problems on your credit report and increase your credit score. These laws are found in the Fair Credit Reporting Act. This book will show you how to use your legal rights to increase your credit score. You will learn how to remove questionable items from YOUR credit reports, including: late payments, collections, judgments, liens, charge offs, bankruptcies, foreclosures, repossessions, and identity fraud. This new book will be your road map to credit repair information, and give you tips on how to maintain a stronger credit profile, repair bad credit, improve credit scores, and correct personal information.

User Ratings and Reviews

4 Stars Credit Laws revealed
This book is very easy to comprehend and an easy read. I applied some of the techniques, written here,the day after I opened it.. This seller also cares the customer. I had an overall great experience dealing with the seller and the author(s) of this book is dead-on point also. No need for average citizens to buy other expensive credit repair gimmicks,this book guides one into performing many of their own tasks to repairing credit scores and ratings.

5 Stars Good source to get back on track
I wish I had this book a few years ago. It would have saved me from a few problems I could have easily avoided, even though I thought I was Mr. Know-it-All when it came to credit and debt.

It gives you the low-down on how credit scores are figured out, the agencies that do the reporting and how you can be in trouble based on the number of accounts you have, collection actions against you, past due payments and delinquent accounts.

OK, so you’re faced with mounting debt. Relax. You can get back in the game by determining what is causing your growing money problems. The author explains in detail how to use debt-to-income ratio calculations to lower your debt in your monthly budget while including necessary savings in those budgets, as well as using credit counselors, negotiating a payment plan with creditors and other helpful methods.

The book points out how to open safe accounts that will show potential creditors you can pay your bills and save money, and how you can correct inaccuracies in your credit information.

Burrell details the different types of cards and loans to look for in order to maintain a good credit rating on your path to recovery. The more you understand credit, the better you are able to take advantage of the options available, the author explains.

5 Stars Excellent Resource for Building, Maintaining, and Protecting Your Credit
If you’re like me, you’re familiar with credit reports and maybe even FICO scores. But, if you’re like me, you don’t know the difference between a credit report and a credit file. You don’t know exactly how credit scores are calculated. And you don’t know about all the other types of credit collecting and reporting vehicles used to decide whether or not you get the job or medical coverage you applied for. How to Repair Your Credit Score Now provides the answers to these and many other credit-related questions you may not even know to ask.

Burrell’s depth of research is impressive. Each chapter, from “What is a Credit Score?” to “Maintaining Good Credit” provides clear, detailed explanations that make it easy to understand credit and how it impacts us. And perhaps more important, they provide the steps and resources to take an active role in building, maintaining, and protecting our credit. For example, Chapter 3, “Credit Scoring Models,” explains exactly how credit scores are calculated, and Chapter 5, “Repairing Bad Credit,” dispels the myths and scams some debt `repair’ agencies use and provides real, concrete actions consumers can take to minimize damage from bad credit.

Throughout How to Repair Your Credit Score Now, Burrell provides illustrative charts, resource contact information, and sample letters to assist you in building, monitoring, disputing, and protecting your credit information. It is an invaluable resource for any one wishing to take an active role in understanding and protecting their credit.

5 Stars If You’re Serious About Fixing Your Credit, This Book’s For You!
Jamaine Burrell’s comprehensive work provides a fundamental understanding, building, and repairing your credit score. Have you ever wondered why you receive copious amounts of credit card solicitations in the mail? Why you can’t qualify for a car loan or a mortgage? If so, then Burrell’s book is the one for you.

In the simplest of terms, your credit score dictates a great deal of your financial future - the higher your score, the better your credit. Burrell begins by explaining the elements used to calculate your credit score and then how to go about manipulating those elements to your favor. The emphasis of Burrell’s book is the importance of maintaining and monitoring your credit score, that, and understanding that there are several sources that provide credit scores including FICO, the Fair Credit Reporting Act, and the Fair and Accurate Transaction Act. Credit scores are then differentiated into either standard credit reports or investigative credit reports.

In general, credit reports can be sold to creditors, lenders, and other business entities, as well as accessed online. Burrell also covers the areas that credit reports can legitimately be used for including the following: medical information; rental agreements; tenant screening; and employment histories. If your credit score needs to be fixed, Burrell’s book provides helpful ways to identify building up your credit as well as methods that won’t help. Additionally, these useful pieces of advice include how marriage, divorce, and/or the death of a spouse will impact your credit.

Through Burrell’s solid research and her ability to connect with the reader, she manages to tutor you in the tangled was of identifying credit professionals to assist you with any of your issues, preventing identify theft, and handling bankruptcy, if necessary. This book provides an excellent resource for people to begin learning about credit and preventing future mistakes or for those currently embroiled in credit problems to hopefully extricate themselves as painlessly as possible.

5 Stars An important guide for any who would navigate the uncertain world of consumer credit.
HOW TO REPAIR YOUR CREDIT SCORE NOW: SIMPLE NO COST METHODS YOU CAN PUT TO USE TODAY offers detailed insights into the entire realm of how consumer credit works, making it a top pick for any public library general-interest collection. Here are chapters covering the basics how to not only understand the consumer credit system, but how to repair broken credit, save thousands on loans, handle questionable items on credit reports, repair bad credit, and more. An important guide for any who would navigate the uncertain world of consumer credit.

Diane C. Donovan

California Bookwatch

Buy/More Info

SECRETS OF THE CREDIT INDUSTRYl Easily Repair Your Own Credit

Some of the information inside this book is a real eye opener. Even though the information within this ebook will apply in the main part to the USA market, there is certainly a lot of food for thought within it which can be adapted to people in other countries. Following is a small example of what is contained in this eBook INTRODUCTION Small Extract - “This is very, very important. I will say it again in another place in this book. NEVER ALLOW ANY OF THESE PEOPLE TO NEGOTIATE BY TELEPHONE. There is a maxim which states, “If it isn’t written, it wasn’t said.” You must have everything, on both sides, documented IN WRITING. Later in this little book I will go more into detail of some actual cases, including correspondence with third party debt collectors that resulted in a nullification of the entire debt. You need to know this information. It’s deadly. But, first let’s look into the foundation for this kind of action.” IS IT ETHICAL TO TRY TO REMOVE LEGITIMATE BAD CREDIT? Small Extract - “America is not the only country in the world whose economy utilizes consumer credit. Other countries, such as Great Britain, extend credit based on the individual’s present credit standing.” THE FAIR CREDIT REPORTING ACT OF 1971 HOW TO USE THE CREDIT REPAIR STRATEGIES CREDIT REPORTING AGENCIES DISPUTES AND VALIDATION BY THE CREDITOR IDENTIFY THEFT - A VERY POWERFUL ALTERNATIVE WHEN NOTHING ELSE WORKS THE LAST STRAW - CHANGE YOUR CREDIT IDENTITY There are three ways to create the file … SUMMARY OF THE FAIR DEBT COLLECTIONS PRACTICES ACT DEBT COLLECTORS HAVE NO TEETH DISPUTE LETTERS REALLY GOOD DISPUTE LETTERS TO SEND DEBT COLLECTORS CREDIT CARDS FROM NATIONAL BANKS ARE NOT LEGAL The following is just a very small part of an interview with an attorney in Washington State who specializes in elimination of unsecured credit-debt. He has extensive knowledge and experience and is a leading expert on the topic of debt-related litigation. You may need to take printed copy of this interview to an attorney in your area if you wish to use this information. (NOTE: read this interview very carefully, with the mind set that you can use much of the information presented here in other aspects of dealing with credit problems.) … Gary: Once you get that court order it is collectable. Now at this point it is too late for them to attempt to challenge this in court because they had ample time and did not. Is it too late, or can they still challenge it? Curt’s Note: If there are any defects at all in the court proceedings to obtain a court order, (there almost always are) the court order, or judgement, can be challenged as a “VOID JUDGEMENT.” Void judgements have no statute of limitations. Bruce: There are always appeals. But the further the process rolls along the harder and harder it becomes to overturn. Gary: I would like to walk through the process for a second. We talked about express powers and incidental powers. We talked about ultra virus. We talked about penalties and forfeitures, arbitration and the Fair Debt Collection Practices Act. What is your success rate? Bruce: Pretty good. I do not want to give a percentage, to avoid creating undue expectation, but pretty good. In fact all too often the banks do not even respond, which results in default judgments against them. When they do respond, their arguments are often silly. In court we do not fair as well. Gary: Now when you say “in court,” what do you mean by that? … OUT OF WORK? HOW TO DEAL WITH CREDITORS FTC CONSUMER ALERT - TIME-BARRED DEBTS CONSUMER HANDBOOK TO CREDIT PROTECTION LAWS DIVORCE AND CREDIT CREDIT CARD SECRETS BANKS DON’T WANT YOU TO KNOW SCORING FOR CREDIT BANKRUPTCY - MY OWN EXPERIENCE! STATE AND FEDERAL STATUTORY BANKRUPT EXEMPTIONS IN CLOSING Order Secrets Of The Credit Industry today and learn how you can easily repair your own credit.

Buy/More Info

The Guerrilla Guide to Credit Repair How to Find Out Whats Wrong with Your Credit Rating and How to Fix It

User Ratings and Reviews

3 Stars Fair
This book is fair reading, but there are far better books, not to mention that its a bit outdated in material. My recommedation is buy a different book, but if you must have it will do.

1 Star Stuff and fluff
Save your money. Stuffed with appendices of legislation pertaining to credit industry. Poorly written and worse editing with mispellings and repetition.

1 Star Falls short and instills fear of credit bureaus
The main idea of this book is that credit reporting is an unfair process to consumers and more legislation is needed to regulate the industry. The authors paint a grim picture of credit agencies and leads you to believe you should be afraid of them. First of all the book is severely outdated. The book falls short due to the amount of mis-information. For example, it convinces readers that anyone that requests their credit report can obtain one; it advises that credit reports are reviewed when a person applies to college and convinces readers that credit reports are so personal that they contain information about a person’s grooming habits. LOL - come one, get serious! The book is outdated and at least half of it focuses on trying to teach readers how to manipulate the credit-reporting system to have correct data removed from a credit report. In addition, the book is full of contradictions. It claims that credit reporting is done to punish, even torment consumers and that it’s unfair, but a few pages later, the authors state that the intricate system ultimately benefits consumers. Which is it?! It also suggest readers partake in illegal activity in order to obtain a credit report like the ones creditors receive. It tells them to pose as a landlord or employer. This is illegal! Unless you’re a deadbeat with low morals, this book is not for you. I’d recommend The Insider’s Guide to Credit Repair by K.E. Varner for more useful, practical advice.

3 Stars This book should be $5.00 - its like a good pamphlet
This book was disappointing. Buying a book without being able to browse it beforehand makes it difficult to know if its what you want. If I would have been able to skim through this book prior to buying, I would not have bought it. It’s not that it’s bad, it’s just that its not what I needed or the title implied. It is not a comprehensive book at all. The title “guerrilla” makes you think it will offer unique, aggressive, insightful, strategic, or uncommonly known tactics to attack your credit repair. It absolutely fell short of that. But what it does deliver is very detailed, easy to follow understanding of BASIC information (what credit is, how to contact the bureaus, what type of letters to send, etc.) It gives you a decent strategy on how to dispute items on your CR. A huge shortcoming for this book is that 100 pages of the 200 page book was given to printing the FCRA (fair credit reporting act). Helpful but a waste. Instead of giving us some “guerrilla tactics” for 100 pages, they print the act instead. If you are really trying to repair your credit and you need real life information and real “guerrilla” tactics then you MUST prepare yourself mentally (it can get legal, psychological and emotional) and use the vast amounts of FREE information and FREE resources available online. Try joining FREE online communities/forums. Avoid people capitalizing on your despair with over-priced credit repair books, credit repair kits, pay-for services (i.e. now bankrupt AmeriDebt) or other books where gazillionaires bloviate about how rich and debt-free THEY are. Good for you. People with poor financial situations and poor credit do need inspiration but people also need practical aggressive ways to get their backs from against the wall. In conclusion, you’d be better off researching online for a few weeks, seeking FREE professional opinions, or checking out books like this one from the library.

4 Stars Sound Advice that Works but….
Updating would be a good thing with recent changes in the FCRA. I read the reviews by others before I read the material myself. Seeing that other reviewers had looked into Bill Bauer who claimed to be an expert on the topic and gave a very negative review and I saw the book was sound raised my curiousity level and I Googled him as well. I think a new book about him would make fascinating reading. Please do not take the negative reviews seriously. They have an agenda.

Buy/More Info

The Complete Guide to Credit Repair for the Homebuyer

This instructional tool provides step-by-step credit repair guidance for the potential home purchaser. The homeowner-to-be is advised not only how and where to locate his/her credit report, but also how to remove any blemishes from the report, whether they are the result of poor credit performance or due to credit reporting inaccuracies. The reader will also learn how mortgage lenders formulate their credit scoring systems to determine whether a prospect is creditworthy, and what his/her legal rights are under such scoring systems. A copy of the Fair Credit Reporting Act (FCRA) is included for the reader to review and use as a reference. The FCRA was designed to protect consumers against inaccurate and unfair descriptions of their credit history. Sample letters to credit bureaus and creditors are included also on a 3.5 floppy diskette for the reader to use as he/she follows the steps.

User Ratings and Reviews

1 Star WARNING: Here’s Another Credit Repair Rip-Off
“The Complete Guide to Credit Repair” would more accurately be titled: “A Complete Waste of Money.”

Of its 128 pages, only the first 14 pages of the book attempt to offer any advice (and very basic advice, at that). The remainder of the book is comprised of the bare text of the Fair Credit Reporting Act (68 pages), a glossary of common real estate terms (14 pages), and three sets of sample dispute letters that are also contained on the enclosed diskette.

For some reason (presumably to waste paper), the authors felt compelled to produce a different set of dispute letters for each of the three major credit bureaus, even though the ONLY difference among these sets is the name and address of the recipient. And, although the authors advise the reader to send those letters via registered mail, return receipt requested, two sets of letters are addressed to post office boxes, where nobody can sign for the letters! (Incredibly, the third set of letters doesn’t show ANY address; instead, the address lines are “X”ed out!)

Mortgage Originator Magazine, which publishes the book, ought to know something about the impact of negative credit on a borrower’s eligiblity for mortgage financing. While the book offers some insight into the mechanics of conventional loans, however, the authors say NOTHING about the less stringent credit requirements available with federally-insured mortgage loans, an appalling omission!

Moreover, the authors are completely silent about other credit repair options available outside of the provisions of the Fair Credit Reporting Act. Nothing is said about any of the other federal consumer protection laws (e.g., the Fair Debt Collection Practices Act, the Truth-in-Lending Act, or the Fair Credit Billing Act). Nor do the authors offer any advice for negotiating with creditors or debt collectors.

While shamelessly purporting to be a “complete guide” offering “comprehensive solutions to credit problems,” this book is just a brief introduction to credit repair supplemented by information that is readily available elsewhere. The reader would be better off saving $18.00 and buying “The Fix Your Credit Workbook” by Todd Bierman and David Masten, which provides far more comprehensive information and much sounder advice.

Buy/More Info