First Previous - Page 1 of 1 - Next Last

Selling debt

  • Member PM.Dip
  • 34 posts
  • # 117111

I work for a company who have had a customer not pay their invoice. The boss has asked me to look into the possibility of selling the debt. Does anyone have any experience of this? Any advice/suggestions?

Thanks,

Alison

  • Fellow PM.Dip
  • Practice Licence
  • 213 posts
  • # 117112

Willow Tree Bookkeeping said:

I work for a company who have had a customer not pay their invoice. The boss has asked me to look into the possibility of selling the debt. Does anyone have any experience of this? Any advice/suggestions?

Thanks,

Alison


 You can't sell the debt as such. You need to engage the services of a debt collector, they will then try to recover the debt and charge a fee if they recover it. Some of these firms work on no collect no fee basis, depending on whether in their assessment they will be able to recover the debt.

I would only go down this route if the debt is reasonably substantial (ie fees don't cancel the actual debt).

Hope this helps.

First Previous - Page 1 of 1 - Next Last
loading