dan salem
placentia, CA (USA)
Role(s):
bexx mgmt.
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Startup
Location:
placentia
Industry:
Finance
Year Founded:
2005
Number Employees:
INVALID
Description:
This company's management has had extensive experience in this arena of investment since its inception in 1993. We buy charged off receivables from banks, credit card companies, auto dealers, etc. for pennies on the dollar. With over 90 cents of negotiation room we have the ability to settle for 50 -60 cents on the dollar making the debtor more apt to pay. This is the strategy of our in-house collection efforts.
We also create a profit on these portfolios by outsourcing them to collection companies who accept them on a contingency basis. In cases like these we often pay a fee to the collecting company, which cuts into the profits. We would like more capital in order to expand in-house collections. Though outsourcing will not be eliminated altogether, by minimizing it, in turn we maxim