Customer Reviews

Second Edition Starting a Collection Agency, How to make money collecting money

5 star:		(6)
4 star:		(2)
3 star:		(0)
2 star:		(1)
1 star:		(3)

 

 

This book is supposed to combine two subjects: collecting and starting a small business. I was looking for more information about collecting and I suspect some viewers may be more interested in information about starting a small business.

The author's style is conversational, but maybe too much so; the book is riddled with errors that indicate that it was not professionally edited, but that alone isn't too bad. I actually like the folksy tone of the book, but the author confuses the issue by switching between being your friend and selling you other goods and services from her consultancy. Indeed, she is shameless about failing to cover a subject, instead referring you to her other works...at an additional fee. It is also very self-congratulatory without the substance to back it up, which is a real turn-off for me.

This book was not very helpful to me in learning more about collections; in fact, I have since read two other books that were less than half the price and many times superior to this one in that regard. If you don't know collections, get a collections book for much less money.

As an accountant and small business consultant, I can say that if you looking for more information about starting a small business this is not your book. It is very weak, and chapters are often one or two pages, sometimes merely listings of information (such as the respective secretaries of state) that a two-minute Google research stint could unearth. If you want to learn more about starting a small business, many books with real coverage of that topic could be had much cheaper.

All in all, this book was extremely weak on covering either topic. Its information should have been condensed into a single chapter for one of her other books, or else the information from the other books should have been included in this volume. You can imagine how badly I wish I had my forty dollars back.

Michelle has out*done herself with this follow-up edition. While reviewing my very own copy, I noticed that the content was very easy to understand and well written. If your setting up a collection agency, then this book is for you. Everything you need is laid out in this book : Sample Proposal Letters, Collection Letters, Demand Letters, and many many resources for skip-tracing the debtor. Keep up the good work Michelle. Thanks for the reading!

Rollie McCarter Investigative Services - Holyoke, MA

I bought this book hoping to get some really good information about opening a collection agency and what I received was an incredibly simplified book. There's a chapter on "collection terms" like "pay" and "debt" etc. The font is at least 24 type and includes mostly general information that can be applied to any business. I hate trashing books, but I have to say that this was money wasted.

There is a lot to like about Michelle Dunn's second edition of Starting A Collection Agency. First it is written by someone who really is an expert and knows her stuff. Although she had lots of credit manager experience, she had never worked in a collection agency when she decided to run one herself. Through trial and error and lots of hard work and study, she became successful and later sold the business so she could work full-time on her writing and consulting. She gives practical advice with lots of forms,letters, and checklists to use. In addition, she gives many websites and references for people in the field to contact. She has formed her own website for networking and discussions so that people new to the field can get information that took her years to collect. Her personality shines through and one can tell that she loves this kind of work. She is generous with her information and she really wants her readers to succeed. I highly recommend this book to people who want to start a collection agency. but it is also interesting to anyone who wants to know more about the collection process. I also loved the cover photo which consists of stacks of money.

I was hoping to find much more detail on how to start this business and more best practices. I went through the entire book in about 30 minutes and did not learn one thing. If you know how to start and run a small business and just want detailed specifics about debt collections this is not the book for you. It seems more about starting a business in general with just a hint of debt collection.

Michelle's book is wonderful and a must read for anyone even considering getting into the business. This is not only because it provides you with all the basics you need to get started, but also the little things along the way that can make the difference between you failing and succeeding. That is rare, indeed.

The book is a good guide on where & how to start your company.

You may find nearly all the bits and pieces to put your collection agency together on the internet, from your State Dept. of Commerce, your attorney, your CPA, your marketing guru, your bookkeeper, your printer, your local Chamber, your post office, your local retired executives who volunteer as consultants, your consultants, your friends and family, your bookstore, etc. This gathering of information should take only 12 - 18 months (for your state only). And then you may have all info you need.

Or, you can buy Michelle Dunn's latest book.

In short: Damn! This is a very good piece of work. I am impressed. There is information in here that took us many, (many many) months to find. This is the most comprehensive `covers it all' book on bill collecting I have ever read. It's a fun read, if that is possible for a business book. I seriously recommend this as the First resource you invest in, even before you begin drafting up your business plan. Michelle should have published this a year ago.

Timothy J Lunde
Metro Field Services, Inc.

**** Note: `Damn!' may be replaced with `Wow!', 'Holy $#!t!' or `Dang!') ***

A debt collection agency is one of those businesses that literally can be started by working off of the kitchen table. You have to present a business like, dignified image to the outside world, but over the phone or at the end of an e-mail message there is no way for the outside world to know if you're still in your bathrobe and slippers or an expensive business suit.

This is also a pretty good business for women to start. There is a reluctance on the part of many women to be so agressive that they wind up being called a word that rhymes with 'witch.' Still, most business creditors are male, and being called by a friendly female automatically makes the male feel better.

On the other hand, it may well be a business that women don't like starting. Just remember this is a business, not a hobby. If you have the ambition and drive to start a business like this, here is a lot of the background information regarding how to do it. You could probably find a lot of this information available on the Internet, but here it's conveniently located in one place.

Nicely laid out, easy to read and informative. Good book for beginning agencies.