person signing a contract for sale of debt

Selling a Debt: The Legalities, The Contract and the Forbidden

Many businesses struggle with bad debts. Unpaid debts can financially cripple a business, and the time and/or cost of recovering that debt may exceed the value of the debt itself. Often creditors take the risk of paying lawyers and/or debt collectors a significant amount of fees without the assurance of success. If creditors are not …

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Bankruptcy in brief

If debtors don’t or can’t pay, it can result in bankruptcy. Bankruptcy can occur when an individual is unable to pay their debts as they become due. A debtor can make a voluntary application for bankruptcy or can wait until a creditor adjudicates them bankrupt via the prescribed process at the High Court. However, bankruptcy …

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