Cession or purchase of debts means that the right to claim is transferred from one creditor to another for remuneration.
The recovery of debts can be lengthy and complicated. SIA Gelvora purchases the portfolios of debtors by cession, thus reducing possible losses of creditors and ensuring immediate recovery of cession fee.
The process of cession
- The creditor prepares and sends a cession portfolio (at least 50 debtors) for assessment, providing information regarding the debtors and their debt commitments;
- SIA Gelvora offers the purchase fee of the cession portfolio to its clients after an analysis of the information in the debtor portfolio.
- SIA Gelvora is transferred all supporting documents of the debt commitment if an agreement on the amount of the cession fee is made and a cession agreement is entered into.
- SIA Gelvora transfers the cession fee to the creditor within 10 days from the date the agreement entered into force.