Setting Up A Debt Buying Division

Situation

An established collection agency recognized that its creditor clients were selling significant portions of their receivables rather than placing them to accelerate recoveries. As a result, they decided to set up an asset buying division so they could continue to compete for all of their client's business. The agency hired Runci Group to make it happen.

Plan of Attack

We divided the assignment up into nine core competencies:

  • Determining asset classes on which to focus
  • Identifying available portfolios
  • Evaluation, Analysis and Pricing skills
  • Purchase and Sale Contract development
  • Inventory monitoring and management
  • Impairment monitoring
  • Resale marketing
  • Support staff requirements
  • Seller-Buyer-Seller support processes

Result

Within 3 months, we had the agency’s debt buying operation up and running. They have since acquired more than 5+ million consumer charge–off accounts.