Turn Delinquent Debt Into Cash

Financial services company has hundreds of investors looking to purchase delinquent debt from local businesses across united states.

(PRWEB) November 22, 2004 -- Millions of dollars go uncollected every month. All businesses ranging from small mom and pop shops to huge financial institutions are writing off uncollected receivables because they can not collect from their customers. The problem has been around since the concept of credit, and will continue forever.

What can be done about bad debt from a businesses standpoint? A business can just write it off and forget about it or they can hire collection agencies, at more cost to the business on top of the lost monies due to non payments. There has to be a better way! There is. Now businesses can sell their bad debt. Companies like Source Funding Group are making it possible. "The secondary financing market is exploding. Not only in delinquent debt but in 60 other areas as well." says CEO David Rupe of Source Funding Group. "It sounds absolutely crazy to most people, but there are wealthy investors out there who actually want to purchase delinquent debt"

It's not unlikely that businesses across the country are racking up huge amounts of uncollected receivables. Most businesses are holding multi-million dollar portfolios they'll likely never be paid on. Once those are written off by a company Source Funding Group will purchase them for cash. "This way businesses can get their tax breaks from write off's and then turn around and sell their portfolios, turning them into an asset for their business. It's a great benefit to businesses"

Does it matter how old the debt is? "Not really, but the older it is the less it will be worth. Think about it this way, if you have not collected in two years or more, are you ever going to collect? Probably not, that's why selling delinquent debt makes good business sense."

Source Funding Group is currently looking for debt portfolios with a minimum face value of $1,000,000. "There is very little work involved. We collect the required information from sellers and present it to qualified buyers. Not just any buyers, buyers that want to purchase what our clients are selling. We can usually have a deal closed in less than 10 days."

www.sourcefunding.net

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