We are more than simply a debt collection company; we actually find a buyer for your debt, and subject to our own due diligence on the debt, we commit to pay you an agreed percentage as soon as our due diligence is completed.
The reason we offer to purchase the debt instead of acting as your agent is:
- We find that you the present creditor hesitate over paying debt collection fees, commissions, possible litigation fees, court fees with the possibility of still not obtaining funds at the end of the day. After all you are a professional in your chosen area of expertise, not experts in the area of collecting debts as we are.
- As owners of the debt we are able to request and instruct the Court to act under our instructions and as members of Equifax credit community we are also able to submit information on the debtor’s lack of payment and therefore lodge the information, thus allowing any other potential finance houses to see their indebtedness and lack of repayment history.
- The purchase of the debt allows you to transfer your invoice from a poor credit rating customer and to obtain a guarantee of payment against that unpaid invoice in the form of an establish credit worthy company as ourselves, thereby guaranteeing payment within a specified period (*subject to terms)
Our unique system and online portal ensure many small businesses across the county use us to safeguard against bad debt, negativity of chasing late payers and freeing their staff from the onerous and time wasting task of attempting to learn the complex system of bad debt collection.
Typically, we request an administration fee to execute our debt purchase. This fee is to cover the cost of our own due diligence of the case; apart from this fee no other fees would be expected. Based upon our appraisal of the debt we would request that you agree to a deed of assignment, where we would clearly state the percentage at which we are prepared to purchase the debt. The percentage will be relevant to the debtor’s financial profile, the age of the debt and the business or domestic sector from which the invoice was generated.
If during our due diligence we find information that downgrades the value of the debtor or increases the likelihood of a quick payment form the debtor we reserve the right to re-quote and re-propose a new deed of assignment.