WE BUY RECEIVABLES – WE BUY INVOICES – WE BUY TRADE DEBT
“Receivable Advance™” Program
“Rent Advance™” Program
You are guaranteed to get 40% of your receivable’s total value- with the potential to get 60% or 70%*.
*For receivables aged less than 120 days.
*Older invoices will be considered, but the purchase would be at 30% of face value, with the potential to get 60%, after collection.
*We specialize in invoices with up to a $15,000.00 face value.
We will purchase receivables/invoices that meet the following criteria:
- Open invoice is for a service provided in New York, or a product delivered to a New York resident:
– Business Debt: If the receivable is due from a business (i.e. a product or service provided to a corporation or LLC for a business purpose), the company/debtor that owes the money must be in business for over 5 years.
– Consumer Debt: If the receivable is due from a consumer (i.e. a service or product sold to an individual for household or personal use ex: home repairs, medical services), the person responsible to pay the bill or invoice (the receivable) must live outside New York City
Compare Your Options for Monetizing Overdue Receivables and Unpaid Invoices:
1. Pay a collection attorney and still not collect.
2. Retain a collection attorney on contingency, and still not collect.
3. Pay an attorney on contingency who collects, and to whom you pay approximately 30% of the collected amount (which may be less than the full amount, so you may only get 30%, 40%, 50% of the face value)- and it could take months, which costs you money. (See our commercial debt collection service on this website if you prefer this service.)
Attorneys can actually charge more than 30% if a lawsuit is filed.
4. Pay a debt collector who the debtor ignores and who offends your customer with a lack of professionalism.
5. Get half your money now, guaranteed- with more upside possible: Sell us your receivable today, get paid 50% of the value today, and, if the face value is collected “in full”, get 20% more (less costs of collection)- for a total of 70% of the receivable (50% of which is guaranteed and paid up-front).
If less than the full amount is ultimately collected (a partial collection), you get 10% of the collected amount (less costs of collection).
i. Full Amount Collected: We buy your $4,000.00 receivable for $2,000.00 cash. If we collect the full $4,000.00 face value, you get $800.00 of it (20%), for total of $2,800.00, or 70% of the initial $4,000.00 receivable.
ii. Less Than Full Amount Collected: We buy your $4,000.00 receivable for $2,000.00 cash. If we collect only $3,000.00 of the $4,000.00 due under the receivable, you get $300.00, or 10% of what’s collected, for a total of $2,300.00, or about 60% of the initial $4,000.00 receivable.
Here’s an example of a collection action vs. selling your receivable:
You are owed $4,000.00 for services rendered. A collection agent or attorney is able to get it settled for $3,000.00. The attorney gets a 30% fee ($900.00), and you receive $2,100.00 against your initial $4,000.00 invoice after 4 months of negotiations.
(The above assumes a collection can be made, and no lawsuit is filed to do so, which would mean more costs and fees for you, the creditor.)
Selling the Receivable:
If you had sold us that same invoice, you’d have received $2,000.00 (50%) 4 months earlier, with the chance to get even more upon our final collection. If we collect the full $4,000.00, you’d get an additional $800.00 (20%), for a total to you of $2,900.00. If we collect only $3,000.00, you’d get another $300.00 (10%), for a total to you of $2,300.00.
Receivable Purchase Terms:
1. Face value of receivable: $300.00-$10,000.00*.
2. Receivable is less than 120 days past due (older invoices will be considered, but the purchase would be at 30% of face value, plus 30% of full collection, less costs of collection).
3. Proof and documentation of the service provided, or of the product delivered by your company that led to the invoice or bill, is required.
4. The debt seller (you) to agree to cooperate with buyer (us) in any legal process required for collection.
5. We will pay approximately 50% of face value (final amount depends on circumstances, invoice age, and the debtor’s general profile).
6. Approximately 20% of the collected amount is paid to the debt seller upon a full collection (less collection costs). Specific terms and conditions to be provided at time of purchase.
* We will purchase a receivable in any amount, but will pay a maximum of $4,000.00 for any receivable.
We will not purchase receivables for construction/contracting work.
Businesses with receivables for sale may be located anywhere in the U.S. provided that the payor/debtor is in New York State.
We will buy up to 3 months of future rent obligations due from your residential tenant at approximately 70% of amounts due (the final purchase price depends on length of tenancy, tenant profile, payment history). See the “Rent Advances” page of this website for the specifics of our “Rent Advance™” program.
If you need debt collection services instead of selling your receivable outright, see the “Commercial Debt Collection” page on this website.
Call or email today to discuss the receivable(s) you’d like to sell.