Let us take the risk.
Bad debt is risky for you and your business. When a customer fails to pay or gets too far behind, they can be hard to draw out of the shadows. They avoid your calls, dismiss your invoices, and dodge process servers. Getting a default judgment is the easy part—collecting on it can seem impossible.
So what are your options? You could:
Fortunately, there is a better alternative. We will buy your bad debt, and turn a lose-lose situation into a win-win-win:
You win. You get cash now. You rid yourself of the risk, burden and headache of collecting on the debt You may even get a tax benefit for writing off the balance. When we take away your problems, you are free to focus on what you do best—running your business and looking after your paying customers.
The debtor wins. If the debtor agrees to work with us, Payette Heritage Fund will settle for something less than the full amount the debtor owes to your company. Even if the debtor fails to cooperate, he or she still won’t end up paying more than they would have if you had collected the debt.
Payette Heritage Fund wins. We find debtors and resolve the debt with them – out of court, whenever possible.
Bad debt is risky for you and your business. When a customer fails to pay or gets too far behind, they can be hard to draw out of the shadows. They avoid your calls, dismiss your invoices, and dodge process servers. Getting a default judgment is the easy part—collecting on it can seem impossible.
So what are your options? You could:
- Hire an attorney. If the debt is big enough – if the survival of your company depends on it – maybe this makes sense. But if the debt is any smaller, the cost of an attorney is prohibitive. Either way, you often end up throwing good money after bad.
- Hire a debt collection agency. They will usually charge you 50% of anything they collect, and you will typically bear all fees and costs. Your out-of-pocket expense is likely lower than hiring an attorney, but so is your potential reward, and you risk a collections agent ruining your reputation.
- Continue trying to collect it on your own. With limited resources, who wants to spend time, resources, and emotional health chasing people who might never pay, when you could be growing your business and servicing your customers who do pay?
- Write it off. Most businesses eventually write off their bad debt. They take a hit on their bottom line, cut their losses, and hope for a tax break. It’s just not worth the hassle.
Fortunately, there is a better alternative. We will buy your bad debt, and turn a lose-lose situation into a win-win-win:
You win. You get cash now. You rid yourself of the risk, burden and headache of collecting on the debt You may even get a tax benefit for writing off the balance. When we take away your problems, you are free to focus on what you do best—running your business and looking after your paying customers.
The debtor wins. If the debtor agrees to work with us, Payette Heritage Fund will settle for something less than the full amount the debtor owes to your company. Even if the debtor fails to cooperate, he or she still won’t end up paying more than they would have if you had collected the debt.
Payette Heritage Fund wins. We find debtors and resolve the debt with them – out of court, whenever possible.
Ready to learn more? Call us at 208-559-7167 or contact us online today.