I have noticed that DDA (or overdraft paper) has been growing in popularity amongst the debt buying community lately. There are some distinct advantages to the DDA paper available right now which include:
1) Debtors are reported to Chex systems, and if they want to open another checking account they need to clear this item first.
2) Most of these files have had no work outside of the banks placement and collection efforts.
3) The accounts are lower in average balance so a debt buyer will get more accounts for their purchase.
4) One, two and three agency accounts from multiple banks are available by state, and good quality state paper has been tougher to find recently.
If this is an opportunity you have interest in pursuing, please call me directly at (469)337-1427 or email me at firstname.lastname@example.org to see what is currently available for your state.
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