Plan No. 412. Percentage Collections
A couple of young fellows in Salt Lake City started a collection agency by first opening a small office and calling upon all the merchants for their old, outlawed or hopeless accounts, on a commission basis ranging from 25 to 50 per cent of the amounts collected. By arranging with a good local reporting company, so as to learn the standing and financial condition of debtors, and associating an active attorney with them, they were able to write a form of letter that brought good returns. The reporting company saved them much time. These old accounts brought them in touch with good claims from time to time until in a few months the business was of sufficient size to give them a good living.