The inside view from a credit card debt purchaser

I found the following boast from an attorney who purchases and collects credit card debt: "It takes a fair measure of success to be able to run a one man law practice AND have sufficient time to fuck around with worthless parasites on the internet. Sometimes I feel guilty. But I've developed a model of practice that allows me to avoid the bother and fuss of "clients." I own a small LLC that purchases charged off credit card debt. That LLC then sends it to me to collect. So Instead of working for someone else and only taking 20%, I take everything I collect. I'll buy a portfolio of about $6 million on total charged debt ( includes the crazy penalty interest) and pay anywhere from Six to Eleven Cents on the dollar. Of the total worth of the portfolio I can get maybe 60% and sometimes more. And the hell of it it that I really don't try all that hard. And interestingly the whole process is all paperwork from my office which I've automated using merge documents. It's all paper work because everybody defaults. They get their notice to appear in court and they simply ignore it. Everybody defaults that is except those who really don't owe the money (this does happen) and they are all over it like white on rice. I send them their initial dunning letter and they light up my office phone till the matter is straightened out. Those people are the most work, because I help them go back to whomever it was that first reported them as not having paid a debt. All you need is a law license."