Thanks for giving some insight into that process. I'd rather be patient and take on 'human' risk, which for some reason I feel more comfortable with.
I'm probably being overly idyllic, but I just imagine being friendly and reasonable with people and their situations might go a long way, especially reaffirming that you're not some massive bank that doesn't give a shit.
Honestly I think the toughest part is buying the debt.
I tried to do some research, but I'm even more confused how people do it. Do they just call up a bank and ask for some debt? Is there some online exchange for debt? California doesn't require a license or anything to buy debt, so in theory I should be able to, but I'm not sure exactly how to.
I did some quick research and it does look like it's a lot harder to buy debt these days than it used to be. Which is a good thing: there were/are a lot of shady characters involved.
Anyway, links:
