6 Debt Management And Recovery Business Success Stories [2024]

Pat Walls

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Updated: December 9th, 2023

Start A Debt Management And Recovery Business

With the increasing need for financial guidance and debt resolution, starting a debt management and recovery business can provide a valuable service while establishing a profitable venture.

The debt management and recovery business involves helping individuals and businesses navigate and resolve their financial obligations.

Entrepreneurs in this field typically offer services such as debt consolidation, negotiation with creditors, and developing customized repayment plans.

The business may also include debt recovery services, assisting creditors in recouping funds from individuals or entities who have defaulted on their payments.

Here are some real life success stories of starting a debt management and recovery business:

1. Fair Capital ($960K/year)

Avi Grunwald, founder and CEO of Fair Capital, started the company in 2017 to address the significant problem of unpaid invoices that many businesses face. Through his research, Avi realized that the debt collection industry had a bad reputation and many businesses were hesitant to hire a collection agency. Determined to make debt collection efficient and positive, Avi assembled a unique team of industry professionals and newcomers to create a culture of mediation between creditors and debtors. With their proven debt collection strategy, Fair Capital has achieved a success rate 52% higher than the industry average, as reported by ACA International.

How much they make: $960K/year
Current team size: 0

How An Industry Outsider Started An $80K/Month Debt Collection Business

A debt collection agency's founder and CEO speaks on addressing the debts of businesses efficiently and positively, attributing its 52% collection success rate increase to a three-phase collection process.

About

Avi started Fair Capital over 6 years ago

Revenue

Avi grew the business to $80K/month

Read this case study

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Learn more about starting a debt management and recovery business:

Where to start?

-> How much does it cost to start a debt management and recovery business?
-> Pros and cons of a debt management and recovery business

Need inspiration?

-> Examples of established debt management and recovery business

Other resources

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Starting A Debt Management And Recovery Business: Everything You Need To Know

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4. FICO

FICO is an analytics company that is helping businesses make better decisions that drive higher levels of growth, profitability and customer satisfaction.

Where they're located: San Diego, California, United States
Website traffic: 200K/month

5. SMART Recovery

Self-Management And Recovery Training is a global community of people & families working together to overcome the suffering caused by addiction and thrive.

Where they're located: Greensboro, North Carolina, United States
Website traffic: 220K/month

6. IC System

IC System is the leader in accounts receivable management. We provide quality, value and peace of mind to hundreds of organizations like yours. Call today.

Website traffic: 130K/month