JDB Portfolios for sale

[catleg]

Found a site listing some portfolios for sale:

http://www.debtconnection.com/portfoliosforsale.asp

Interesting reading, seems to be mostly around 1%. Yes that's right 1 cent on the dollar.
I guess most of these have already been "worked" before.
Sample:
Offering Company: Argonaut Financial, LLC
Composition: Retail
Characteristics: No Preference
Portfolio Amount: $38,162,148.00
Average Balance: $2,446.61
Age: 03/22/2003
Number of Accounts: 15,598
Region: National
Date Listed: 7/17/2009
Bid Due: 8/16/2009
Closing Date: 9/12/2009
Contact: Lee Dalby, 760-746-6186
Comments: This is a national OOS file consisting of primarily health club, home security monitoring, and telecommunications accounts. The portfolio is warranted 90 days post sale for bankrupt and deceased. Average charge-off date is 03/22/2003. Seller has complete chain of title. Purchase rate .0008, and the purchase price $30,529.72. Reasonable offers will be considered. Please call if you have any questions.

[HHM]

The ones that are avaiable on sites like that are practically useless.

Asset Acceptance Corp. has first dibs on nearly all debt for sale, if they don't buy it, then it goes out to places like this.

But, interesting nontheless. However, in most states the statute of limitations is 6 years or less, so this is a really bad portfolio.

[DeadManCrawling]

It would be neat if you could cherry pick the lists and buy only YOUR OWN accounts for one cent on the dollar.

Buh Bye BK

[HHM]

But, at the same time, it really comes down to yield. If this portfolio only yielded 2% of the total value, that would be gross revenue of $763,242. If you could realize that return within 2 years that is a huge return on investment.

[catleg]

HHM is right, these are real garbage, but here are some more:

http://www.insidearm.com/go/portfolios

And here's something that's a little bit disturbing:

http://newsroom.transunion.com/index.php?s=43&item=511

TransUnion's Portfolio Valuation Solution Offers Debt Buyers and Sellers Opportunity to Boost Return on Investment

PRNewswire
LAS VEGAS

LAS VEGAS, Feb. 4 /PRNewswire/ -- To help mitigate risk associated with debt buying, TransUnion today announced its Portfolio Valuation solution at the 2009 DBA International Annual Conference, enabling debt buyers and sellers to price and bid on portfolios more accurately. By using these tools, collection executives are able to make informed, analytical and objective decisions while improving the likelihood of increased returns on investment.

"Utilizing our Portfolio Valuation solution will allow both debt buyers and sellers to better understand critical portfolio characteristics such as outstanding balances and anticipated liquidation rates," said Scott Carter, group vice president of TransUnion's collections vertical. "This is particularly important because TransUnion's Trend Data database projects credit card delinquencies to hit their highest levels in five years at the end of 2009, resulting in a potential saturation of accounts in the market."

The Portfolio Valuation solution seamlessly integrates TransUnion offerings to create depersonalized, aggregated reports which help assess the potential ROI of a debt portfolio. For instance, the solution utilizes the TransUnion Collection Prioritization Engine, which conducts a thorough analysis of debt portfolio characteristics and provides key valuation assessments in a comprehensive report. The solution assesses several characteristics, such as the number of bankruptcies, deceased indicators and fraud alerts. Furthermore, the TransUnion Recovery Model is used to evaluate portfolio collectability.

Data and analytics compiled from these tools are then featured in a number of reports such as:

-- TransUnion Score Distribution Report -- identifies how consumers fall into score bands to help determine the likelihood of recovery and leverages one of the company's generic recovery or risk models, or a custom score to further refine the likelihood of recovery.

-- TransUnion Waterfall Statistics Report -- identifies portfolio hit rates on various indicators and provides percentages on all collections characteristics such as number of satisfactory open mortgage trades, etc.

-- TransUnion Liquidation Report -- estimates the dollars that potentially can be collected

"The reports provided with the Portfolio Valuation tool are especially useful because they can be customized for specific customer needs," said Adam Elder, a major account executive at TransUnion who specializes in debt buying. "We understand that debt buyers and sellers may be looking for specific characteristics when evaluating accounts and this solution will help them make appropriate decisions based on our analytics."

An example of the solution's power can be seen by reviewing just a small sample of a report TransUnion conducted on one debt portfolio. Through TransUnion's analysis of the portfolio -- evaluating variables such as expected liquidation rates and outstanding balances -- a prospective debt buyer could learn how much money might be recovered by accounts in a range of TransUnion Recovery Model scores.

For instance, a debt buyer working the accounts that fell between the 661 and 680 score range can expect an average liquidation rate of 14.22 percent in 12 months, according to industry analyses. The same portfolio with debtors in the 461 to 480 score range would be expected to liquidate 1.27 percent using industry averages observed by TransUnion. These industry statistics demonstrate that, though there are three and one-half times more debtors in the lower score range with more than twice as many dollars owed, the debt buyer would collect more than five times the total dollars from the debtors in the higher score range. This competitive advantage of knowing the distribution of debtors and dollars owed while bidding on a portfolio allows the debt buyer to improve its bids.

"A debt buyer seeking this level of account detail can use these metrics when comparing prospective portfolios," said Adam Elder. "While one portfolio may have more accounts at a certain scoring range, the Portfolio Valuation tool will be able to let you know if another portfolio may be of more value when analyzing all metrics, resulting in significant cost savings."

For more information on TransUnion's Portfolio Valuation solution, visit booth #520 at the 2009 DBA, contact Adam Elder at [email protected] or visit transunion.com/collections

[bf2bf]

What does JDB stand for?

[HHM]

JDB = Junk Debt Buyer

[bf2bf]

JDB = Junk Debt Buyer

Thanks.
Does this abbreviation apply to any collection agency?

[catleg]

Yep, that is exactly the situation I find myself in with one of my accounts. Some combo "law firm"/"debt buyer" bought my paper, added 10% legal fees, and started calling, naturally I don't answer, when they finally called my boss, I said enough, C&D, then they sued me. M-F'ers.

I searched the law firm for cases, they're already being sued for violations of FDCPA and breaking NJ law for charging attorney fees when the two entities are "too close for comfort" .. how you prove this I have no idea.

In general OC's hold onto paper pretty long, I'm at about 10 months now and only 2 accts have been sold out of about 20-25.

[bf2bf]

Thanks to all for clarifying.

[albacore44]

Yep, that is exactly the situation I find myself in with one of my accounts. Some combo "law firm"/"debt buyer" bought my paper, added 10% legal fees, and started calling, naturally I don't answer, when they finally called my boss, I said enough, C&D, then they sued me. M-F'ers.

I searched the law firm for cases, they're already being sued for violations of FDCPA and breaking NJ law for charging attorney fees when the two entities are "too close for comfort" .. how you prove this I have no idea.

In general OC's hold onto paper pretty long, I'm at about 10 months now and only 2 accts have been sold out of about 20-25.

well i'm just hitting 5 months out with most of mine. calls have stopped. you and i have pretty much the same portfolio, i think. what can i expect from each one, and when ??

[catleg]

GM card .. sold to CACH LLC, one peep from a CA, DV, silence for the moment.
US Bank .. sold to jdb law firm in NJ (probably only buys in-state paper), DV, lawsuit
Chase, Citi .. sued my wife because house is in her name, have not sued me.
the remainder just various CA's for now. thinking my wife might get sued by Discover later this month but not sure yet, it's in the hands of one of their low life law firms who likes to sue people here, unless the 4 other suits against her gives them any pause.

[albacore44]

GM card .. sold to CACH LLC, one peep from a CA, DV, silence for the moment.
US Bank .. sold to jdb law firm in NJ (probably only buys in-state paper), DV, lawsuit
Chase, Citi .. sued my wife because house is in her name, have not sued me.
the remainder just various CA's for now. thinking my wife might get sued by Discover later this month but not sure yet, it's in the hands of one of their low life law firms who likes to sue people here, unless the 4 other suits against her gives them any pause.

yeah, i got chase-citi too. and the house is in my name. how many months before they sued ?? my mortgage is with citi also but i'm not behind. but citi keeps sending me settlement offers, and letters listing all my accounts including the mortgage, telling me to call so they can help with all the accounts

[catleg]

Chase uses in house counsel to sue in the larger states (NJ, NY, IL, CA, etc). Citi sued using outside lawyers. Chase sued very fast, before even chargeoff. Maybe they think we're ruthless defaulters. Ruthless or not, we're broke. Good luck to them. Citi took a wee bit longer since the outside lawyers were involved.