Posted by John Merchant on December 08, 2009 at 13:29:43:
We’re getting a picture that you’re new to this and you need to read and learn some basics before throwing your money away buying bad notes.
Before bidding on anything you need to get as much info as you can from note holder and have a look at what these notes are, why they’re delinquent, how collectible they really are and at what expense, how much risk you’re willing to take on, how YOU’D proceed to try to collect them,your cost of collecting, etc.
I’ve seen lots of such portfolios but I’ve yet to see one that I’d want at any cost.