BUY FOR SALE
What is Debt Sale?
Debt Sale Debt is the economic activity for the exchange and transfer of assets, especially "receivables" from one entity to another. In essence, it is the transfer of "debt recovery right" from a "debtor's debt" to the debt holder to the debt purchaser so that the debt purchaser becomes the new creditor of the debtors. the guest debt.
After buying a debt, the debt collection company has a variety of ways to handle debt collection, debt rescheduling or debt consolidation. In addition, if debtors have a good plan to do business, but because of lack of capital, the company buying and selling debt will invest in that unit so that they can continue to develop production and business and then recover debts.
It can therefore be argued that debt trading can be effective for all parties involved.
When should I sell debt?
If you have debts that have not been recovered for any reason ...
Consider selling that debt to a legitimate debt trading company.
Effect of debt sale:
+ The creditor will receive the money at the earliest time as agreed upon, to reinvest or deal in specific plans.
+ The creditor is not liable for any debtors dealing with debt settlement.
Difficult to consider the sale of debt:
+ The creditor must accept the fact that the value of the debt must be sacrificed, since buying debt is a risky asset purchase, so all debt trading companies assign a price to the creditor. Over 50% of the actual value of the debt.
+ Specifically: If the debt is valued at VND 1 billion, debtors will receive only VND 500 million (depending on negotiation and valuation of the two parties).
What debt does the company buy and sell debt?
All debts are documented in detail, with the creditor's acknowledgment, the creditor can transfer to the debt trading company. Global Debt Selling Company prioritizes the purchase of debentures certified by notary notices and court fines. Debts signed together by hand our company still carry out the acquisition but will take a long time to verify, reconcile.
Debt trading procedures with Global Company:
When the need arises to sell the debt, the creditor provides the Debt Sale Company with debt related documents as follows:
- Closing the actual value of the debt (principal and interest), date of arising, maturity, overdue payment; cause of not recovering debt; operational status, name, address, contact telephone number of debtors; ... etc.
- Provide the buyer with at least one of the following types of documents:
+ Minutes of reconciliation, certification and commitment to debt repayment;
+ Loan contract; Economic contract, minutes of liquidation of the economic contract (if any) related to the debt;
+ Mortgage or pledge of property or written record of settlement agreement to secure the debt; Legal documents relating to collateral;
+ Official letters, documents, request for payment of debts of creditors towards debtors;
+ The verdict of the judgment, arbitration of disputes of the court about the debt; The judgment execution decision of the judgment-executing agency related to the debt;
+ Other relevant documents on debt and operating situation, financial status of debtors.
On the basis of reviewing and evaluating debtors' file and debt offering, Global Debt Sales and Debtors will jointly negotiate deals on debt settlement at market price "buy-in. , just sold "through the agreed method.
The purchase and sale of debt is carried out on the basis of the contract signed between the two parties.
Or simply contact the Global Debt Service for direct advice.