After decades spent in the cross border debt collection business and credit management, we have come to two simple and obvious conclusions:
Billions of receivables are never collected
Every single company in the world is being owed money by customers, and every single company in the world also has old debts that are not expected to be collected anymore not only because of insolvency matters or banckrupcies but simply because of ageing, distance between creditor and debtor, Courts and Lawyers costs, etc.
Just put yourself in the shoes of a French creditor who has a US debtor who owes $20,000. If the debtor has decided not to pay in an amicable way, the costs to collect this money going to Court will be superior to the amount of the debt itself.
Now, selling this two or three years old write off debt on this website is free. The only risk for our French entrepreneur is to be found by a US based lawyer or debt buyer or collection company who will make an offer at a percentage of the face value of the debt, buying it for himself in order to collect for himself.
Taking the chance to receive money for something that you have given up to ever collect is what we are offering sellers.
Investing in debts that you think as a professional, you will be able to collect, making good profit from it, is what we are offering buyers.
We are in no way involved in the deals between buyers and sellers.
We only are “matchmakers” because we believe that both parties, sellers and buyers, are adults who know their businesses and that there is no reason to pretend we will know better than them just by looking at some uploaded documents.
This is why our policy is simple: Sellers and Buyers get in contact, negotiate, make deals, directly.
Of course, we understand that as a seller, you might look for some privacy and need not to disclose your company’s name, debtor’s names, email address, etc at first glance.
You always have the choice, everytime you publish a new offer, to keep your privacy and start first contacts through our website.
A niche business
Debt buying business is a very professional business.
On the buyers side, the reason is obvious: buying debts can be a risky business if you do not have the knowledge and the skills to decide how much you are going to pay for such or such portfolio.
But on the sellers side also… Usual sellers are banks, insurance companies, healthcare, who sell portfolios, knowing not only the face value but also the real market value of it.
It is a small world.
Our goal is also to unlock a new path for small businesses and any type of companies and to enlarge this small world to anyone.