About Debt Purchase
Factoring companies provide you with funds against your new invoiced sales debts as they are incurred. We provide you with funds against your unpaid, invoiced aged/bad debts. This facility effectively converts your aged/bad debts into instant cash – working capital for your business.
How Does It Work?
We provide a specialist service to creditors whereby their unpaid trade debts that have become overdue can be sold to us for up to 90% of the debt value.
Our criteria for acceptance are straight forward. The debt should meet the following:
- The debt value exceeds £2,500 (including VAT)
- It is an overdue trade debt
- The debt is undisputed
- Either a sales order, proof of delivery, invoice, current statement and or any reminders, etc are available
- The debt is not currently the subject of court proceedings
- The debtor is not currently subject to any formal insolvency proceedings
Provided 1-6 above can be met our underwriting team would be pleased to receive your aged/bad debts for immediate appraisal.
Our Underwriting Criteria
Our underwriting team will not take long to appraise your aged/bad debt and will usually make an offer to purchase within 1-2 working days.
The criteria 1-6 above and other commercial considerations will determine what terms are given for the purchase of your debt.
Debt Purchase Offer
We will always make an offer to purchase a debt that has met our criteria 1-6 so contact us now and convert your aged/bad debt into instant cash.