Being that this is NYSpeed and a lot of you are from Buffalo, I want to see how many of you work as a debt collector. Either third-party or for a debt buyer. I just went back to school and needed something flexible with scheduling so I quit my job at UPS and got hired on at a third party agency. Surprisingly the bonus structure is realistic and my hourly is just fine for having zero experience. I’m still in training and wondering what I can expect from it being that it is a third party agency and not a debt buyer. Thanks.
I used to be a contractor for a bunch of collection firms. There are some collectors easily making $100,000 a year. The structure should be the same whether its a third party or buyer. The third party should provide you with some basis so I would think your earning potential is a little less as they wouldn’t get the same pricing as a buyer would but overall, its a solid venture if you run it legit.
I know a few people here in Buffalo that are starting to look into buying debt and starting collections as the startup costs are very small.
My retired neighbor works for one of the collections places part time. I still can’t picture such a nice soft spoken old man chasing down people for money over the phone but he does it.