Recently, talk in the debt collection industry has changed from the availability of loan portfolios to competition for the assets. While others may view this competition as a threat, at Ropay Asset Investors we view this simply as the logical progression of the situation.
Think about what needs to happen in order for this opportunity to exist:
- First, banks need to make a lot of loans
- Next, the economy has to deteriorate
- Third, banks need to realize that they would be better off selling the loans then having collecting in house (they are not in the collection business)
- Finally, banks need to begin selling them in mass
In 2010, banks unloaded 40 billion dollars of credit card debt into the market, which certainly qualifies as selling in mass. With competition heating up for these assets, how does Ropay Asset Investors ensure it gets a piece of the pie?
We have relationships with the best, brightest, most successful people in the debt buying area. These relationships give us access to buying opportunities otherwise not available to the general public. While other major debt buyers have announced they are exiting the business, Ropay Asset Investors is buying assets on a monthly basis and looking forward to a very prosperous future.
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