Debt Purchase

What is debt purchase?

Despite the range of debt collection methods available to businesses, once a customer delays payment beyond agreed terms, there will occasionally be those that are just too difficult, time-consuming or costly to recover in-house.

Debt purchase offers businesses a useful alternative to simply writing off debts once the decision is made not to invest any more time and resource into chasing customers for payment.

In this event, debt purchase companies could buy the debts from a business. This tactic ensures that a portion of the overall value is recouped immediately by the seller, and removes the burden from its credit control team.

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What other options do I have?

Whilst debt purchase is one option, outsourcing the debt to a debt collection agency to recover on your behalf can be all that’s needed to encourage payment and save your business money.

Often provided on a no win no fee basis, the debt collection agency will use its knowledge and experience to attempt to recover the invoice and even escalate it to legal collections for a firmer approach. This could lead to a far higher return to your business than would be possible by selling the debt. Plus, if you’re unsuccessful you won’t be charged and you still have the option to sell.

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How can we help?

With a proven track record in delivering results for our clients, our team will dedicate the time and resource to recovering your debt that you may no longer be able to allocate.

And, should you still want to sell your debt, with a range of reputable contacts we can identify the most suitable debt purchase company for your requirements.

To find out more about how we could help your business contact us on 0800 9774848 or collections@hiltonbaird.co.uk to discuss your requirements.