Baker, Bloomberg & Associates offers portfolio management as a service to clients who desire to pursue the purchase of existing debt from original creditors at a discounted rate. When a particular debt falls several months in arrears, it becomes fairly typical for that original creditor to be interested in selling off the debt so as to realize at least some partial recovery of monies owed.
Baker, Bloomberg & Associates will act on behalf of clients who seek this kind of debt purchase in the hope of recovering a sum greater than the purchase price of the bad debt. Once this purchase has been made, the debtor then becomes obligated to make payment to the purchasing creditor. If Baker, Bloomberg & Associates is designated to pursue the recovery of this bad debt, our firm will then take steps to secure whatever part of the original amount is recoverable.
In such cases, it is possible that the entire amount owed can be recovered, especially if it becomes clear to the debtor that repayment is the only alternative to lawsuits or other legal constraints. It is also possible that only some percentage of the original amount can ever be recovered due to the debtor’s poor financial status. Generally some kind of negotiated settlement might achieve the best possible result in such a limited scenario.
Let the experienced portfolio management team at Baker, Bloomberg & Associates represent you in your portfolio purchase, and bring about the best possible recovery results.