Why sell debts at Online Auction?Everyone knows what the price of a carton of milk or a can of soda is. But does anyone know how much a mining license on Mars might cost? In cases when a fair market price cannot be immediately determined, an auction is the best way to sell complex assets. In addition, an auction allows you to quickly find a balance between the interests of the seller and the buyer. Our experience in various countries shows that auctions are the best solution for the delinquent debts market. And it's almost the only way for the lender to get the maximum market price. As a rule, the price for which the portfolio is sold is higher than the asking price. Quite often, it is two or three times higher. And it usually takes only two weeks to sell the portfolio from the moment it is posted.
Selling debts is a new business process that requires highly skilled employees. Where to get resources?We live in a world full of technology and, for many of us, our children understand it better than we do. The main thing about modern online services is their convenience and ease of use. Online debt sales are no exception in this regard. You don't have to have sales experience or connections in the world of debt buyers to sell debt through an online auction. The online marketplace has already brought together hundreds of buyers. We understand that the first steps on the site and the first experience are very important, so we'll show you how the site works, how to upload your portfolio, and help you analyze your portfolio and hold your first auction for free. Once again, you do not need to have any special knowledge and experience to sell debt through an online auction, everything is quite simple, and therefore there is no need for additional costs.
How Much Money Will The Sale Of The Debt Bring Me?The profit from the sale of the debt is made up of two factors. The first is the price of the sale itself. As I said earlier, usually the final sale price increases two- or even three-fold during the auction. That is, the final sale price of the debt is not so low to be neglected. The second factor is that maintaining and handling delinquent debt requires certain costs. Such debts negatively affect the company's financial indicators and their value, as far as the collection goes, decreases every month. While the cost of collection is always fixed and high unlike the price of the debt itself which decreases every month. If you add up all the costs over several years, you will find that it is pretty expensive to keep bad debts on your books. It's much smarter to analyze them and sell part of them at the maximum price at once.
I Never Met the Buyers Of My Debt. Why Should I Trust Them?Every day, new buyers from all over the country join our platform. All of the companies registered as buyers on Debexpert and similar platforms are members of the professional Debt Buyers Associations - RMAi or ACA. Both of these associations carefully monitor their members. For this reason, you can be sure that all activities related to debt sale or purchase are in strict compliance with all applicable laws. In addition, Debexpert additionally checks potential bidders according to a multitude of criteria, among which the availability of licenses, no complaints, no negative news background, etc. Moreover, an online marketplace carries reputational and even legal risks. That is why an online platform like ours is most interested in law-abiding buyers.
How Well Is The Sale of debt Protected?Reputation is the main factor of success for online services because they do not have the usual physical parameters. You can't touch them, you can't hold them in your hands. The main thing they have is the trust of their customers. For this reason, online services invest a lot of money in data protection. All data sent through our site is encrypted using end-to-end encryption. It is the most secure method, even our government uses it to protect data. Each bidder has its own encryption keys. The file sent to you, even if intercepted by scammers, cannot be opened. It would take them decades and the computing power of several supercomputers to open it. I talked in detail about how it works in the previous article.
My Type Of Debt Is Pretty Specific, I'm Not Sure If I Could Make Any Money Off Of It. I Am Not Sure If I Can Even Sell these debts.Our practice shows that any product is sure to find its buyer. It all depends on the price and a number of other factors. Debt buyers have their priorities, maybe the structure of your debt (geography, volume, type) would be perfect for some of them. We can help you split your portfolio correctly so that it sells as soon as possible at the maximum price. Alternatively, we can advise you on the right time to sell it. If the portfolio does not sell, you lose nothing and incur no costs.
Many services that we can get using our smartphones are so quickly and firmly integrated into our lives that it seems as if we have always used them. My advice is very simple - don't be afraid of new things, try new formats, test them, get your own experience. Our world is changing faster than ever before. Who knows, maybe new digital tools will make your business more efficient and scalable tomorrow.
If you still have questions, leave them in the comments or contact us directly.