If you’ve ever been in the market to buy or rent some real estate you’re most likely familiar with the saying, “In real estate it’s location, location, location.” Well, in the business of buying charged off credit card debt it’s timing, timing, timing. And let me tell you…THE TIME IS NOW!
Due to the recent recession and the highest unemployment in 26 years there has been a tremendous increase in the amount of charged off credit cards. Take a look at these numbers:
In 2006 the volume of charged off credit debt was 31 billion dollars
In 2009 the volume of charged off credit card debt jumped to 97 billion dollars (over a 200% increase in only 4 years)!
In 201o the volume of charged off credit card debt was approximately 117 billion which, according to The Nilson Report, Moody’s Investor Services and the Federal Reserve Bank, is far more than the industry is capable of handling or expanding to handle.
The tremendous mismatch between the growing availability of charged off loans and the diminished capacity of the industry will allow extraordinary opportunities to carve out a very profitable niche over the next 3-5 years. The oversupply of charged off loans has driven down the acquisition cost and enable new entrants to purchase these assets efficiently and at steeply discounted prices (currently between 5-7 cents for FRESH charged off debt which is roughly half the peak 2006 price of 13.5 cents).
Ropay is positioned to help you take advantage of this opportunity…don’t let it pass you by!