Sales of Charged-off Debts: Key Issues and Practical Pointers for Sellers and Buyers to Consider
We look at key issues and provide practical pointers that sellers and buyers should consider, including (1) seller due diligence to prepare for a sale, such as identifying and creating relevant policies and procedures and reviewing documentation for debts to be sold, (2) important contractual issues for buyers and sellers when negotiating sales agreements, such as debt repurchase rights, resales and assignments, buyer responsibility for its providers’ activities, and seller post-sale obligations regarding buyer information requests, and (3) seller monitoring of such requests.
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