Unlocking the Secrets of Successful Debt Purchasing

A Step-by-Step Guide to Building a Sales Funnel for Acquiring Charge-Off Default Portfolios from

Step 1: Identify your target market - Banks and financial institutions that have charge off and default portfolios.

Step 2: Create a list of potential leads - Research and compile a list of banks and financial institutions that have a history of selling charge off and default portfolios.

Step 3: Reach out to leads - Contact the banks and financial institutions on your list and introduce yourself and your company. Explain that you are interested in purchasing charge off and default portfolios.

Step 4: Qualify leads - Ask the banks and financial institutions about their current portfolio and find out if they are interested in selling. Also, ask about the size and quality of the portfolio.

Step 5: Build relationships - Follow up with the banks and financial institutions that are interested in selling. Keep in touch and build relationships with them.

Step 6: Close the deal - Once you have a good understanding of the bank's portfolio and the bank is ready to sell, negotiate the terms of the deal and close the purchase.

Step 7: Follow up - After the purchase, stay in touch with the bank and look for future opportunities to purchase charge off and default portfolios.

Bonus:

Critical Factors to Consider in the Debt Buying Analysis:

• Original account numbers
• Original loan amount
• Average account balance
• Original loan date
• Last payment date
• Charge-off date
• Debtor States and Zipcodes
• Industry or sector the debt belongs to
• Credit scores of the debtors
• The age of the debt
• Legal status of the debt
• Any potential challenges in collecting the debt
• The expected return on investment (ROI)