Now think about the state of the economy and the never ending reports on delinquencies, slow pays, and bad debt. If you are looking for the opportunity in this dismal economy…. think delinquent debt!

Sound crazy? Think it through:

• What do all businesses have in common?
• What do all businesses have whether they want it or not?
• What would all businesses love to get rid of?
• What is worth money to a business, and yet they often just throw it away?

You guessed it, delinquent debt!

The fastest way to establish credibility and begin working relationships with current or new prospects is to buy a few million dollars of delinquent debt off their books.

If you want to make money in delinquent debt then learn from the professionals. For the past ten years Larry and Marilyn Singer have been using delinquent debt to open doors that would normally have been closed.

They share their knowledge and expertise in Delinquent Debt: A Broker’s Manual. This step-by-step guide is a proven system for successfully brokering portfolios of delinquent debt for fun and profit.

FactoringInvestor.com asked Larry Singer to expand on how this system has worked so well for their business.

From Larry Singer:

When Marilyn and I first went into the cash flow business, we targeted areas with which we were familiar, mortgages, business notes and factoring. During a conversation, a prospect said that he had a lot of delinquent accounts that they were trying to clean up. Being the diligent cash flow consultant she is, Marilyn pursued the conversation and the rest is history.

For the past ten years we have used delinquent debt to open doors that would normally have been closed. Starting a conversation by telling a person that we are interested in purchasing his delinquent accounts that he has already charged off his books gets his attention very fast.

“Brokering Delinquent Debt for Fun and Profit” is the result of years of experience in the Marketing and Cash Flow Industry and is a plain language guide to help you open doors to profitable areas in the cash flow industry.

If a business has been doing business over a period of years, in all likelihood that they have accumulated a volume of delinquent debt.

Just think, if you had delinquent accounts on the books and someone called you and said they would like to buy them. Wouldn’t that conversation build credibility with you? Of course it would.

That conversation would make it easy for you to talk about factoring of accounts receivable that could possibly cut way back on future delinquencies and open conversations on equipment leasing, business notes and many other lucrative income streams.

Where there are delinquent accounts, there are performing accounts.

Where there are performing accounts, there are new opportunities for the cash flow professional.

Would you like to know:

• Where to locate profitable delinquent debt portfolios?
• Ways to find and speak to the right people?
• How to get around the gatekeeper?
• How to talk the talk?
• How to turn delinquent debt into current profits?
• How to position yourself as valuable cash flow resource?
• What information you will need to know?
• How to convert delinquent debt prospects into long term clients?
• How to open doors in all areas of the cash flow business and establish credibility?

All this and more is provided in the step-by-step system from Marilyn and Larry Singer including:

- Delinquent Debt: A Broker’s Manual (Read over 85 pages in eBook format)

- Audio Presentation (Listen to the MP3 presentation)

-  Power Point Presentation (Follow along in PDF format)

-  Scripts

- Targeted Marketing Letters

- Ready to Use Forms

- All available immediately in download format!

Click Here to Order Your Digital Copy Now for just $149

This easy to read and use program walks you through all the steps from finding delinquent debt portfolios–and they are everywhere–to brokering them.

Don’t wait another day without exploring this incredible door opening income stream.

Don’t let another prospect get way because you didn’t offer them the right solution.

Begin relationships.

Open new doors with new and current prospects.

Yes, – I want my digital copy of How to Make Good Money with Bad Debt! Sale Price: $149.00

Order your digital copy today and don’t miss another opportunity.

FI: So, tell me what Monterey has been doing lately?

SL: We have been inundated with calls lately due to GE, MBNA and other large public finance companies either discontinuing their funding of consumer finance transactions or minimizing their participation in some regard. Many of these companies used their consumer finance divisions as loss leaders for their more profitable products, such as home equity loans, but with the housing market in shambles, there is very little of that going on right now. Their client’s are searching for funding and we seem to be there best fit.

FI: Given the current economy, have you had to change the way you do businesses?

SL: This is a great question. We have not had to change the way we do business so much internally, but we have had to take a proactive approach to what will certainly be an increase in delinquencies in the months to come. For our finance company, we have raised our reserves by 2.5% and we have raised our minimum credit score to 650. Together, these two adjustments should cover any spikes that we will see in delinquency in the near future.

With regards to our delinquent collection company, we continue to work exclusively on a contingency basis and we expect to see an increase in business placed as the economy continues to slide. Unfortunately, the collectability of those accounts will suffer as well for some time.

FI: A lot of cash flow companies are struggling in this current environment, what makes Monterey different?

SL: I think the fact that we have three different divisions that we rely on; consumer finance, loan servicing and delinquent collections, is a huge benefit for us. If one of the divisions is off a bit from month to month, we are not dependent on that division in order to make money as a company.

Being a privately held company helps as well. We can pretty well do as we please and make changes a lot quicker than most public companies can. If we see red flags, we stop, gather information and then strategize and implement new plans immediately. We are very fortunate to have had our best year in terms of net income, in 2008.

FI: Monterey is involved in several different areas. What is your core business that you seem to always go with?

SL: We have continued to rely heavily on the timeshare/vacation club industry. Since 1990 we have been the industry leader in delinquent collections, one of the top three in servicing and quickly becoming one of the biggest finance companies in the industry as well. It’s an industry that we know very well. What makes things nice is that our approach to all of our services is pretty much the same, regardless of industry. While timeshare is a big piece of what we do, the majority of what we do in our finance company is in a number of different industries, many of which are referred to us by financial consultants.

FI: Tell me about the ‘debt recovery” part of Monterey.

SL: As I mentioned before, we only work on a contingency basis, we do not purchase delinquent accounts. In today’s economy there is a real push to sell bad debt and just take a few pennies on the dollar, but we don’t believe that is the best approach. Our contingency plan, where we keep 30% of the funds that we collect, allows our client’s to get 70% on the collectible accounts, then they can sell the real dead stuff for pennies on the dollar.

Our approach is very unique, relying heavily on phone contact and using letters just as a collection tool. We know that most people who are behind on their debt to our client’s, are most likely behind on other bills as well, so we need to prioritize our debt ahead of the others. Sending out letters simply will not accomplish that. We get the debtor on the phone and get arrangements for payment in full as best as we can. What I can tell you is that regardless of industry, we will out collect any other agency. This is not a sweat shop. We are talking about professional, college graduates, who are earning a very good living as a bill collector.

FI: Where can people get a hold of you? Where can they get more information?

SL: Our sales department can be reached over the phone at 800.456.2225, or by visiting our website at www.montereyfinancial.com and clicking on any of our services, or ‘Brokers,” for consultants. I can be reached via email at slittle@montereyfinancial.com.

FI Summary:

Consumer receivable financing is one of many cash flow categories where consultants can earn commissions by referring transactions to funding sources.