Why Sell Your Debt?
There are many benefits to selling your accounts rather than outsourcing them on a contingency basis. Sellers receive immediate cash for uncollectible accounts. This can be a major source of untapped cash. Cash produced from debt sales is immediately available in a predictable amount rather than in unpredictable amounts over an elongated time frame that would occur with contingency collections. Regardless of the status or age, there is a value to every account, and a dollar amount that you could realize immediately for a group of accounts.
Instant Cash
When Harris & Harris buys receivables, we pay upfront. The worry of recovery is no longer your problem. We initiate the purchase of receivables by looking at the age of the debts, the type of information in the account records, and previous attempts to collect. Once we analyze that information, we make you an offer.
In addition to receiving cash up-front, sellers cut expenses through portfolio sales. Agency fees are eliminated or reduced once accounts are sold. Administrative expenses, including data processing related to the collection and management of uncollectible accounts, can be cut and reallocated to other more productive activities. Customer service and credit bureau reporting issues are directed to the new owner of the accounts, and in these areas costs are sharply cut.