A step-by-step guide for successfully brokering portfolios of delinquent debt for fun and profit  

By Marilyn and Larry Singer        

I pick up my ringing telephone.
"Hi. I have decided that I want to focus my discounted cash flow career on brokering delinquent debt."
"Great," I respond.
"Can you take a few minutes to tell me exactly what it is…"

You'd be amazed how many times we've had this same conversation. It seems that delinquent debt holds a certain fascination in the cash flow industry---perhaps in the sheer numbers involved (you're dealing immediately in the millions of dollars).

Consumer debt has reached an all-time high in our country. The average single person owes $5200; the average couple, $7800. And it is growing every year. You can see the potential for a long career in marketing this commodity!

We've been told more than a few times that our articles in the Cash Flow Journal made brokering delinquent debt seem fun, easy and lucrative. Well, that would do it for me! In fact, it is fun; and the basics to get you started in the field are pretty simple.

Like any other debt instrument, however, brokering debt involves hustle, tenacity and integrity. The industry is not so large that you can maintain anonymity if you' re making a mess of things. So study the basics. Get a feel for not just what you're brokering, but also why: what makes it profitable and, therefore, marketable? Sensitize your nose to be able to sniff out delinquent debt possibilities---they're everywhere.

This is a shifting, evolving industry, and you will be well served by the notes you make pertaining to deals we work on together (or those you pursue on your own).

You will find yourself continually learning new concepts, new terms, and new possibilities.

Finally, have fun brokering delinquent debt. You chose the cash flow industry because you wanted to work in a business that excited and intrigued you. We understand. We feel the same way. The more you learn and grow, the more fun you'll have. So read on.

Marilyn and Larry Singer

Read Chapter 1 of Delinquent Debt: A Broker's Manual!