The New York Times Magazine explored the business of buying and collecting debt in a lengthy feature article looking at two Buffalo, N.Y. area companies and the veteran collection professionals behind them.
The article, titled "Paper Boys," was published with the cooperation of the subjects. It is adapted from a forthcoming book, Bad Paper: Chasing Debt From Wall Street to the Underworld. The subjects outline that even people who try to do everything legally must use tactics that fall into gray areas, especially when dealing with unscrupulous or downright criminal competition in the secondary debt buying market.
To read the article, written by Jake Halpern, click here.