Business Booms When American’s Go Broke
June 2, No Comments - Author: Simon JohnsonDue to the recent downturn in the American economy, many are losing their homes and tightening their spending. But some businesses seem to be benefiting from the bad breaks.
Eltman, Eltman & Cooper are bringing in the bucks by bringing in debtors. With a team of retired New York City law enforcement officers. “A judgment is a good investment for a debt buyer or credit card company” said Claudia Wilner (senior staff attorney with the Neighborhood Economic Advocacy Project).
Other business that have stumbled upon recent success are pawn shops such as Cash Now inc, liquor stores like Aida’s world of Liquor, and dollar store chains like Family Dollar. People are wining and dining at home, exchanging items for cash and spending smarter.
Internet domain name 4closures.com, owned by Michael Miscaile and Associates is also experiencing a surge in traffic due to the many homes that are in foreclosure. Recently, the company sold a two-family home for $270,000 (nearly fifteen percent less than the asking price).
Via: SILive
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