Hey all...a question for anyone who may have experience with this:

Someone owes us a great deal of money. ($8000-$10000 range) It's a totally binding debt (tenant vs homeowner w/ a binding lease) so there's no room for them to claim they don't owe it.

The chance of us actually ever getting the money from these people is slim to none. However, if I understand right, you can get a Collection Agency to "buy" the debt from you. They give you a percentage of the total debt owed, and then they go after the people involved for the full amount. This seems like a good way for us to go, because we have neither the time nor the resources to force someone to give us that kind of money. I'd rather get a percentage of the monies owed than never get anything.

SO....does anyone here have experience along these lines? Ever used one? Got any advice to offer on where to start looking and what to watch out for? (Seems like a super-easy area to get ripped off in if one isn't exceedingly careful!)

Thanks!!