Services

Debt Purchase are able to purchase your distressed debts in exchange for immediate payment, which has the following benefits to your organisation:

• It provides immediate and certain cashflow.
• It avoids having to incur potentially non-recoverable legal costs and disbursements, which could escalate dramatically and result in costs of the debtor having to be paid in the event of an unsuccessful action.
• It allows you to write your debt off in your records and avoid the cost of continued credit control which may be better utilised everywhere.
• It avoids the administrative headache of having to calculate bad debt provisions that then have to be carried forward until they are resolved.
• It may also result in an immediate tax write off which otherwise would have been delayed until a recovery, however small, was made.

Debt Purchase are able to take an assignment of debts and pay a percentage of the net recovery. The benefits associated with this solution include:

• We pay you a higher and specific percentage of the net recovery.
• We take all the risks and incur any costs associated with recovering the debt.
• We have the internal expertise and experience to deal with the recovery of distressed debts.
• We have favourable agreements with legal advisers should the need arise to utilise their services.
• It avoids the cost of continued credit control which may be better utilised elsewhere.

Debt Purchase undertakes the following searches for companies who are looking to ensure that they know as much as possible about trading associates, creditors and rival companies:

• Asset tracing 'Land Registry' searches.
• Credit application 'Status &. Risk' searches.

Our reports are concise and easy to understand and can be faxed or mailed to you under confidential cover.

For more detailed information about credit application status and risk searches and asset tracing reports that we provide, please call our team.

Are you an Insolvency Practitioner looking to close cases but still waiting for dividend payments from debtors in your insolvencies?

If so, we can help to speed matters up for you by taking an assignment of debtors at an agreed percentage of the estimated dividend. This has the effect of:

• Allowing you to make an immediate realisation for the benefit of creditors.
• Avoiding the costs of having to keep your insolvencies open for lengthy periods of time which may result in a depletion of the assets available to creditors.
• Avoiding criticism from creditors, committees and even regulatory bodies on case progression.

If you have other book debts which you have written off as non-recoverable, we are also happy to take assignments.

We are also happy to provide a specialised debt recovery service to Insolvency Practitioners on a ".no win no fee". basis. Our systems are set up to provide monthly reporting to all our Insolvency Practitioner clients.

For further information on the above or any other of our services, please contact our team.

Millions of pounds are written off by businesses every year because commercial debtors disappear leaving no forwarding addresses or contact details.

Debt Purchase will trace your absconded commercial debtors.

We have comprehensive links to an extensive range of databases, and our debt tracing team enjoy a high level of success tracing those companies who have 'disappeared' leaving their debts behind.

UK and worldwide debt collection services are carried out by Specific &. General Services Limited.

Please contact them at: SGS.