The problem is you do come face to face with customers, some quite aggressive. It depends what type of debt collector you're prepared to be if you know what I mean, say one with aggression? And have people got the money these days to repay. Like the other comment ,I don't see how anyone should hate you, it's there fault they are in debt by living on credit. Some are not prepard to do without, taking holidays, buying cars etc on credit when they can't really afford it.I would still say debt collection is profitable despite the current climate, provided you are good at what you do.You don't always have to face debtors, you can employ people to do that for you! I was a telephone collections agent, but lasted only a couple of months as I hated the job and was just no good at it.

First of all you need to be licensed. There are various rules and standards you have to adhere to so you would need to check out first of all how you become licensed.

To get your list of debtors, you'll need to submit tenders to various companies. If you are starting off small you could try approaching small firms such as vets or dentists as quite often they are too busy to chase up any debts. Remember as well that you have to take into consideration all your costs when quoting prices. What kind of percentage do you feel is fair enough for you to take? Some debt collection companies can take up to 20% of the money collected so maybe you should check that out. You'll also need to consider whether or not you are prepared to trace debtors or if you are simply willing to just collect.

An interesting book with help for writing letters and useful telephone tips is Debt Collection Made Easy by Roy Hedges.

Here in Scotland we can visit people at the Business Gateway, who give advice and tips on how to set up your own business. If there is somewhere like that local to you pop in and see them, they are usually very helpful.

Good luck whatever you decide to do.I'm sorry but this makes me very suspicious. you say you worked for a debt collection agency yet you don't seem to know much about the job at all. if you after ten years don't know how are we to know.?I did that job for many years off and on. Your bet is to get in touch with some of the big firms; Moorcroft, Westcott, Lewis's etc.

Its not a bad job in the summer, not particularly well paid – very flexible though.
I ended up getting an employed job with a big firm.

Now I work in debt advice, much better for the soul.

 

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