We are specialist debt buyers
Our team of legal and investigative staff rapidly assess your situation and we buy individual debts or small portfolios.
Benefits of selling a debt
Debt purchasing offers many benefits, with the overriding benefits to a creditor being:
- Immediate resolution of your problem
- Removal of bad debts from a balance sheet
- Improved cash flow
- Reduction of time and expense in the collection process
- Elimination of the risk of paying significant lawyers’ fees without assurance of success.
- Removal of the personal element and discomfort where there may be an ongoing business or personal relationship with the debtor
Before we agree to purchase debts we:
- undertake a legal assessment of the debt and the underlying contract
- we undertake a comprehensive due diligence on all parties involved to
determine viability and legitimacy
- require full co-operation and disclosure from you to enable us to undertake our due diligence.
Once our enquiries are complete and we offer to purchase the debt, contracts are prepared by our in-house legal team for the sale. Your business can then write the debt down and claim bad debt VAT relief.
The types of debt include but are not limited to:
- unpaid goods and services
- rent arrears
- unsecured loan debts
- default on loans including bridging loans
- trading debts
- small claims court debts
- insolvency debts