Bad debt in the United States has surpassed two (2) trillion dollars by many estimates. Even more startling news is that bad debt is accruing at seventy (70) billion dollars per year. There are vast amounts of money to be recovered in the judgment recovery business if you are willing to invest your time, hard work, and some of your money.
Judgment recovery and the purchasing of bad debt as a process is not brain surgery. You will purchase bad debt normally at four (4) cents to ten (10) cents on the dollar. At that point the debt is yours to collect. If you have purchased bad debt wisely, and work your business effectively and efficiently, you can possibly earn on average around twenty (20) cents on every dollar of bad debt purchased. The profit margin then is between one hundred and fifty (150) and two hundred (200) percent. If this realistic monetary gain does not give you a giant impetus to jump into the industry, then probably nothing ever will.
To be successful in the judgment recovery industry, you will want to obtain some very important skills. You will not want to go out and indiscriminately purchase bad debts without analysis. Being able to discern what debts to purchase and what debts to stay away from will take more than luck or intuition. Good debt buying practices are skills that have to be learned over time. The Judgment Recovery Institute can provide excellent training and knowledge that you will need to successfully purchase the “right” kind of bad debts.
The best news is the fact that you will NOT have to wait until you have learned everything there is to know before you start your business. You can begin studying with the Judgment Recovery Institute while you begin to work your business. If you need answers to questions that you have not covered and learned, you can contact an advisor to get the information you need. Perhaps you didn’t quite understand a lesson that you have previously covered. You can again get that missing information clarified in real time.
There is nothing wrong with starting out small so some of the trial and error is not as costly early on in the business. As you learn more you will no doubt earn more money. Earning while learning sure beats investing a chunk of money to “know it all” before you begin and then find out there are hundreds of things you need more information on to be successful. Don’t get stuck with a whole lot of questions not found in a book, manual, or system that you have been sold. Stick with experts who can guide you. Get a network of professionals to help you. The business you build will be your own, but the network access you obtain through the Judgment Recovery Institute will be an invaluable resource to you well worth the cost of tuition. You will not start out an industry “expert,” but you have the chance to eventually become an industry “leader.”
