[indepayment]

Thanks Matt. That's a great point that collecting debts takes a lot of time and persistence- and lots of freelancers and independent workers would pay someone to do it. Kudos. No one Accounts Receivable Managemnt for freelancers is a growing need and if you can do it right would be awsome.

I've taken a deep dive into the reasons why freelancers and independent workers and small businesses go unpaid and one of the issues that I keep coming back to is the fact that unlike everyone other creditor, almost, freelancers and independent workers don't have access to top shelf debt collectors and commercial collection attories, and collecting debts is a huge pain point for them. Debt collectors and commercial collection attories report to db, skip trace, and have folks trained to find assets and deadbeats. They don't work for freelancers and independent workers or small businesses because they operate on volume and freelancers and independent workers and small businesses have only a few debt To get freelancer and independent workers access to top collectors, I've started a company that aggregates their debts into portfolios and then assigns them to my network of collectors - growing weekly- who work the accounts. Im really excited about the project because not only can we get the debt to the right collectors but it turns out that when all that debt is in one place we can do all sort of near stuff, like figure out who the deadbeats are who consistently don't pay or pay late and whether or not the debt can be sold to investors, shifting the risk of non payment completely off the freelancers. Currently were in beta at www.indepayment.com. I'm proud to say we're beating the industry average for collections (which is about 12%) and we're going to be suing our first really bad debtor who we found owes multiple freelancers money. Without Indepayment each of those freelancers would have been on their own collecting. Also, we only change when we collect. check us out and I'm happy to answer any questions.

[matmcf]

I like your idea of aggregating a bunch of small debts - that's smart. And great for the freelancer if it means they get access to a better level of collection service than they could otherwise afford or find.

Figuring out who the deadbeats are is great too IF you can reach scale (hence your free service is important) and likewise for calculating a score.

What's your average commission charged to the freelancer and do you find that many have the ability to oncharge collection costs to their clients?

tx

[indepayment]

We're trying hard to reach scale in the next few months. We charge a flat $99 upon collection. I would love if we could charge the debtor the fee but the first rule of collections is you grab what you can get. Our commercial collection attornies can tax the costs of the action (court filing fees, service fees,etc) to the debtor, which then becomes part of the judgment but most of the time when the freelancers has the option of getting paid before there is a judgment then those fees tend to get waived.