Debt Purchase and Debt Sale

Monday, January 07, 2013 - Posted by Philip Harvey

Have you considered selling your debts?

LCollect has recently obtained its National Credit Licence to purchase debts. We are excited to be able to offer this service to our clients in addition to all our existing services.

The potential benefits to your organisation of this service are;

• immediate cash / income to your organisation for debts that have been written as bad
• assist in reducing Ombudsman fees and charges on debts where complaints may be lodged
• free up your team to collect the early day debts or assist in other areas of your organisation as needed

LCollect  will continue to protect your brand and reputation. Provisions can be built into the contract allowing you to buy back accounts under certain circumstances (such as complaints, commercially sensitive information etc). As a holder of a National Credit Licence we are a member of COSL and are required to apply all IDR & EDR processes as set out (including hardship). We will comply with all relevant legislation (including ASIC/ACCC Debt Collection Guide, Privacy).

We would welcome the opportunity to discuss this further with you. If you are interested but uncertain about a debt sale, we would suggest a test of this service. If debt sale is of interest to your organisation please contact us.