Debt Buying FAQ

Welcome to the FAQ page for ADC Credit Group’s debt buying services.

We understand that selling or buying debts can be a complex process, and our goal is to provide you with the information and resources you need to make informed decisions.

On this page, we have compiled a list of frequently asked questions and answers that cover various aspects of debt buying, including the benefits, risks, and procedures involved.

Whether you are a debt seller looking to monetise your accounts receivable or a debt buyer seeking to acquire profitable debt portfolios, our FAQ page is a valuable resource that can help you better understand the debt buying process.

We encourage you to read through the questions and answers carefully and contact us if you have any further questions or concerns.

Our experienced team of debt buying professionals is always available to assist you and provide personalised guidance that meets your unique needs.

Why should I sell my debts to a debt buyer instead of trying to collect them myself?

Selling your debts to a debt buyer can save you time, resources, and money. Instead of spending resources on debt collection efforts that may not yield results, selling your debts allows you to receive immediate cash for your accounts receivable.

How much money can I expect to receive for my debts?

The amount you can receive for your debts depends on various factors such as the age of the debt, the amount owed, and the debtor’s ability to pay. At ADC Credit Group, we offer competitive pricing for debt portfolios and work closely with our clients to ensure that they receive the best value for their debts.

What happens to the debts after I sell them to a debt buyer?

After you sell your debts to a debt buyer, the buyer assumes ownership of the accounts and becomes responsible for collecting them. The buyer may use various methods such as skip tracing, legal action, or settlement negotiations to recover the debts.

Are there any risks involved in selling debts to a debt buyer?

As with any financial transaction, there are risks involved in selling debts to a debt buyer. However, working with a reputable debt buyer such as ADC Credit Group can minimise those risks. We have a strong track record of ethical and compliant debt buying practices and prioritise transparency and communication with our clients.

FAQ – How can selling my debts benefit my business?

Selling your debts can provide your business with immediate cash flow, which can be used to fund operations or invest in growth opportunities. Additionally, selling your debts can free up resources that would otherwise be spent on debt collection efforts, allowing you to focus on core business activities.

How much money can I expect to receive for my debts?

The amount you receive for your debts depends on various factors, such as the type and age of the debts, their value, and the current market conditions. ADC Credit Group uses advanced valuation methods to determine the fair market value of your debts and offers you competitive prices that maximise your returns.

FAQ – What happens to the debtors after I sell my debts?

When you sell your debts to ADC Credit Group, we become the legal owner of the debts, and your debtors become our debtors. We handle all communications with the debtors and ensure that all collections activities comply with applicable laws and regulations.

Can I sell any type of debt to a debt buyer?

Yes, you can sell various types of debts to a debt buyer, such as credit card debts, personal loans, medical debts, utility bills, and more. ADC Credit Group purchase a wide range of debt portfolios and can help you monetise your accounts receivable quickly and efficiently.

What are the risks of selling debts to a debt buyer?

The main risk of selling debts to a debt buyer is that you may receive less money than you expected, especially if the debts are of low quality or have limited collection potential. However, ADC Credit Group minimises this risk by conducting thorough due diligence and offering transparent pricing and payment terms.

FAQ – What are the benefits of selling debts to a debt buyer?

Selling debts to a debt buyer can provide several benefits, such as freeing up your cash flow, reducing your administrative burdens, and avoiding the costs and risks of collections activities. Additionally, working with a reputable debt buyer like ADC Credit Group can help you maximise your returns and maintain positive relationships with your customers.

Do I need to have a minimum number of debts to sell to a debt buyer?

No, there is no minimum or maximum limit on the number of debts you can sell to a debt buyer like ADC Credit Group. We can purchase portfolios of all sizes, from a few accounts to thousands of accounts.

What documents do I need to provide to sell my debts to a debt buyer?

To sell your debts to ADC Credit Group, you need to provide documentation that verifies your ownership of the debts and their validity. This may include account statements, invoices, contracts, and other supporting materials. Our team can guide you through the documentation process and ensure that all requirements are met.

FAQ – How long does it take to sell my debts to a debt buyer?

The timeframe for selling your debts to a debt buyer varies depending on the complexity of the portfolio, the quality of the documentation, and the responsiveness of the parties involved. However, ADC Credit Group aims to complete the transaction as quickly as possible and can provide you with an estimated timeline based on your specific situation.

Can I continue to collect on my debts after I sell them to a debt buyer?

No, once you sell your debts to a debt buyer, you no longer have the legal right to collect on them or communicate with the debtors. ADC Credit Group assumes all collection responsibilities and ensures that all collections activities comply with applicable laws and regulations.

FAQ – What is the difference between selling my debts to a debt buyer and hiring a collections agency?

Selling your debts to a debt buyer is different from hiring a collections agency in that you transfer ownership of the debts to the debt buyer, who assumes all collections responsibilities and risks. In contrast, a collections agency acts as an agent on your behalf and charges a fee or commission for its services. Selling your debts to a debt buyer may provide greater financial and operational benefits in the long run.

What if I have some more FAQ that are not here?

If you have any more FAQ then please contact us and we can discuss your requirements.