If you are a legal person and you have a problem with debtors, we can help you! Cessions are good for companies as they reduce the cash conversion cycle as you recover the money owned by debtors sooner. You will no longer have an extensive amount of resources tied up and will not need to waste your time communicating with the difficult debtors. Thus, you will have more resources to devote to your core business. We approach each case individually and come up with the best solution for you!
Assignment Services
If the recovery of debt promises to be costly and time consuming, then cession or in other words buying debt will ensure fast recovery of your money. This solution is especially useful for dealing with the older debtor liabilities.
Benefits
- There is no need to reckon with the debtor’s other creditors in the debt collection process that can extend the recovery of money for an indefinite period of time
- Fast recovery of money
- Balance sheet free of doubtful debtors – exempted from frozen assets
- Recovered money can be used for further development of the business
Process
- Creditor provides EVES with the basic information regarding debtors and the size of debt
- EVES analyses and evaluates the provided data and come up with a price offer for the purchase of debt portfolio
- When the mutual agreement is reached a cession is signed between the creditor and EVES
- Creditor hands over to EVES all the documents that confirms the existence of the liabilities and deed of acceptance-delivery is made
- EVES begins the recovery of debt by beforehand informing the debtor of the cession fact