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How to prepare for selling MCA or business debt?
Create a masked file
Excel spreadsheet that lists all the accounts that the seller wants to sell auto notes, while sensitive information of borrowers is masked. This is what a masked file means in the debt industry.
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Thinking about the sales strategy
Second step before the selling process starts is to decide to sell the entire portfolio or break it down into pools and geography, product types, and stage of delinquency. As a rule, each buyer specializes in a particular kind of geography or debt, so to ensure the maximum price, it is recommended to break portfolios into pools.
Check the availability of original documents of loan contracts
If the media is stored electronically, the sale process and the portfolio price will usually be higher because the buyer can start working with the portfolio immediately after signing the PSA. If the documents are stored in hard copies, then you need to ask to prepare media for sale by putting them in separate boxes.
The preparation of the Purchase Sales Agreement
The contract should reflect the actual terms for closing the transaction, transferring documents, and obligations of the seller and buyer.
The preparation of the Seller's Questionnaire
The last step is the preparation of the Seller's Questionnaire, in which the seller describes the main parameters of the portfolio to be sold. A correctly completed seller's questionnaire will help buyers better understand the portfolio being sold, how it was previously collected, and other features.
Post Sale Service
File exchange and communication logs between debt buyer and seller are end-to-end encrypted on Debexpert loan marketplace.
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