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Q: remaindering bad debt ( No Answer,   1 Comment )
Question  
Subject: remaindering bad debt
Category: Business and Money > Small Businesses
Asked by: th1-ga
List Price: $30.00
Posted: 08 Aug 2005 17:03 PDT
Expires: 08 Aug 2005 22:34 PDT
Question ID: 553290
Help... I have a customer who owes me about $27k, from a series of bad
invoices (and poor a/r management on my behalf)... she's paying us,
but extremely slowly-- about $2k/mo!-- so I'd like to sell off the
whole bad debt and walk away from all this.

I've heard there are companes that will buy these bad debts for 50%
and assume them.

Questions:

1. is is really that easy? can I just sell them my bad a/r and they
cut me a check and it's off my hands?

2. do they really pay 50% (or close to that)? I assume there's several
factors that come into play but if it's closer to 10% (or 80%!) I want
to know that.

3. how do I find a good one of these firms?

thank you...
Answer  
There is no answer at this time.

Comments  
Subject: Re: remaindering bad debt
From: daniel2d-ga on 08 Aug 2005 21:11 PDT
 
There called "factors".  Contact your bank and see if they can refer you.

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