Debt Recovery by Assignment ...
We specialise in collecting those difficult debts of people that simply just don't want to pay. You may have sued them and obtained a Judgment or you may not be able to locate the debtor or you may have taken all the steps under your credit policy and simply don't want to spend good money after what you believe to be bad - that's where we come in.

We will assess the recoverability of the debt and offer a nominal sum to purchase the debt from you. You will receive a very nominal amount after we have entered into an agreement to purchase the debt from you and the balance of the agreed purchase price once we have collected the debt.

At the time we enter into an agreement to purchase the debt, you assign the debt to us, we take all the necessary steps to give effect to the assignment and then we take the requisite steps recover it - all at our expense and at our risk. We do the work and spend the money to collect a debt which would more than likely otherwise be written off and forgotten.

You have a return immediately from the purchase of the debt and a prospective higher return if it is collected.


How do I sell the debt to you ?
We're not that fussy on what debts we purchase, but not all debts will be purchased. To satisfy the criteria for a debt we will purchase, the debt will need to be :
 

  1. owing by a proper entity (ie an individual or company);
  2. properly supported by the necessary documentation (invoices, loan agreements, lease agreements etc);
  3. under 6 years of age if the debt owing not owing a Deed;
  4. under 12 years of age is the debt is owing pursuant to a deed of sorts;
  5. a Judgment Debt of less than 12 years of age;
  6. not the subject of any court proceedings, which have sat dormant for more than 12 months;

In addition to the above criteria, it is necessary that the debtor not be a current bankrupt or in liquidation.

It is not necessary that you know the whereabouts of the principal debtor. Our specialist skip tracing team will take care of that.

Provided that the criteria can be met, then in all the circumstances you have a Debt which we would be interested in discussing with a view to purchasing the same.
How much do you pay for the debt ?
As a general guide, we will pay between 0.1% and 10% of the value of the debt upfront depending on what we believe our prospects of recovering the debt are. In addition, if we do recover the debt, then you will be paid a sum up to a further 50% of the debt collected. What is paid, is dependant on what we assess is a reasonable sum and what must be done to collect the debt.

An example would be an assignment of a 4 year old judgment debt, where the debtor has moved and you can't locate him. The debt is owed for goods sold and delivered. The value of the Judgment is $5000.00 including costs. You say the debtor has the ability to pay, but has no assets or other means of satisfying the judgement. After speaking with you and looking at your file and supporting documents, we agree with you.

We would in these circumstances offer 5% of the debt up front - that is $250.00. We would agree to pay to you the sum of 30% upon the recovery of the debt- that is $1425.00.

If you knew positively where the debtor is and that is verified, then you may be paid 35 - 40% of the value of the debt collected. If the debtor has a tangible asset which you know about and it would appear could be sold in satisfaction the debt, then you may receive up to 50% of the debt.

There is no fixed formula for our fee as each debt presents a different element of risk. Each debt is assessed on its own merit.

If you have an entire ledger of debts, then the same methodology applies, except we enter a privacy agreement with you, do a due diligence of the ledger and make a written offer to purchase the ledger and written off debts as a whole rather than individually.
What are the chances of collecting the debt?
The chances of collecting the debt or debts varies greatly. The thing to keep in mind is that if the debt you are thinking of assigning to us is an "easily collectable" debt, then really you wouldn't be considering sending it to us, would you ?
How do we retain you?
You retain us by contacting the principal of the firm, Darrin Edwards, and making an appointment for him to see you with your debt - at your place or ours.

If you wish to discuss this matter further, then please do not hesitate to contact us.
 
For further information feel free to contact us.
Our clients can expect and enjoy our high quality professionalism, no matter what task is allocated to us.