Debt Collection Home Business - One of the 10 Most Popular Home Business Trends for 2007
Ranked #97,742 in Business, #682,633 overall
Debt Collection Home Business
Debt collection home business is one of the top 10 home-based businesses according to a report by Darrell Zahorsky, small business expert at About.com. This report was commisssioned by Homestead Technologies Inc. as part of their "Home-based Business Week" in October 2006.
In Darrell Zahorsky's Top 10 Home Business Opportunities for 2007, he further says:
"Debt has become a way of life for many Americans. According to the Federal Reserve Board, consumer debt is at a record high of $2.03 trillion as of 2004 and continues to grow. All the outstanding, unsecured debt has become a multi-billion dollar business for the 6,000 plus debt collection agencies."
Bad times for some people provide an opportunity for a debt collection home business. Just as in any home based business, the business owner must know the laws related not only to debt collection but also to home businesses.
While the opportunity is there, it will be better if your previous experience is in debt collection.
Findings on Home-based Businesses
1. Over 1/3 of all home-based businesses are run by people over 50 years of age
While home-based mums are better known, this finding is a pleasant surprise. If you have previous exposure in this area, a debt collection home business is an excellent area to look into. Or even if your current occupation is in this area, you might want to check this out. Or, of course, if you are willing to learn.
2. The average American commutes almost 30 minutes per day
With a home-based business, you can avoid the commute time and the stress from getting through the traffic.
3. Service-based businesses are in, product-based businesses are out
If you thought that most home-based businesses are selling products that were delivered by courier service or downloaded as softcopies, then this is changing. Most new home based businesses are providing services, and this trend is expected to continue.
How to Start a Debt Collection Home Business
Consulting is available, but the rates were like $100 dollar per hour. The books cost must lesser than that.
Starting a Collection Agency by Michelle Dunn
Extract from one of the reviews:
"You may find nearly all the bits and pieces to put your collection agency together on the internet, from your State Dept. of Commerce, your attorney, your CPA, your marketing guru, your bookkeeper, your printer, your local Chamber, your post office, your local retired executives who volunteer as consultants, your consultants, your friends and family, your bookstore, etc. This gathering of information should take only 12 - 18 months (for your state only). And then you may have all info you need.
Or, you can buy Michelle Dunn's latest book. "
Second Edition Starting a Collection Agency, How to make money collecting money
Amazon Price: (as of 07/10/2009) 
Make Money Off of the Debt of Others
It says
"Southern Company teaches you how and where to find charged off debt for sale , also how to deal with brokers and how to evaluate and hire a collection agency that will work your accounts as well as how to take your non performing accounts and resell them on the market . This is kind of a win-win situation, you will also learn how to negotiate settlements with your accounts, and much more."
Price of the product is $75, with a money back guarantee if the product is not everything that they say it is.
Click through to Money Off Of Debt to read a whole lot more information.
Next Step Towards Debt Collection Home Business
The price of "Make Money Off of the Debt of Others" at $75 dollars is higher than Michelle Dunn's "Starting a Collection Agency".
"Make Money Off of the Debt of Others" has 2 advantages though. You do not have to wait for it to arrive in another couple of days, and it has a money back guarantee. If you are not satisfied with the contents, you can get a refund.
If you are serious about starting a home business, then make a decision and click through which product that you think is the right one for you.
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