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Factoring or debt buyout through a law firm
Factoring, as already discussed, is a procedure for buying out a problem loan (debt) from a banking institution. In the provided note, we talk about how to use this offer from our company, and what outstanding qualities this process will give to the debtor.

Most often, just loans for the purchase of real estate (such as an apartment or apartments, a house, etc.) run into the problem section. For clarity, in the description of the factoring offer of our company, let's assume the following story.

An example of repurchasing debts from a bank or collectors.

Suppose, in fact, that you have made a loan in an economic institution (in a bank) at 13% per annum and for a period of 20 years. For 4 years you were anxiously paying installments on the loan, but in the 5th year you started having serious financial problems, due to which the payment on the debt became unfeasible. You have not paid the loan for a certain number of years, and for this stage, in addition to% for the implementation and the body of the loan, the bank additionally calculated for you large penalties and fines for non-payment under the agreement. In view of this, the obligation increased and became even more than it was at the turn of the contract. At this point, a conflict situation appears: the bank is not able to write off interest for you for non-payment, and you will no longer be able to cover the obligation of similar volumes. At the same time, the restructuring of the loan contract only leads to longer tasks with payments and an increase in the amount of debt.

How to work with a similar set of events and save personal money and time as much as possible? There is a possibility for this and now it exists not only among buyers of paid money institutions, but also among buyers of banks that are present at the stage of liquidation. It is necessary to mention only the moment that, in fact, the redemption of debts on microloans is not always probable. Just factoring has the opportunity to help you get out of debt.

The entire procedure for repurchasing a problem loan can be symbolically divided into 2 steps. But first you need to find out what moments directly affect the buyout price.

The purchase price of a loan is affected by:
artel the amount of debt, which is produced from the body of the loan,% for its implementation, fines and penalties;
stage in the direction of which there were no payments on the loan;
the presence of collateral and its market price at the time of loan redemption;
the stage of formation of the case for the forced collection of debt: court opinions, the presence of orders of the executive service, etc.;
moratorium or its absence;
if the loan was issued for the purchase of housing (mortgage), then the price of repurchase of the loan is still affected by the registration of children under the age of majority in this housing;
the position of a factoring company that is negotiating with a bank to buy back a loan.
As the skill of Kasyanenko & Partners law firm demonstrates, the right choice of a factoring company is already the middle of a successful solution of debt problems. From this it directly depends on what amount you will be able to save in the end.

Bank debt recovery process

If the redemption of the loan occurs at a Dutch auction, and the bank is at the stage of liquidation, then the procedure will be the next one:

determining the date of the auction;
negotiating with the debtor and determining the amount of the loan repurchase;
the process of acquiring debt at an auction;
purchase contract design procedure between a banking institution and a factoring company;
assignment of the right to requests to a third party or repayment of the loan by the debtor through factoring.
If the redemption of the loan occurs in a paid economic institution (bank):
real economic audit of the loan contract and determination of the amount of debt to the bank;
appraisal of collateral under a loan agreement;
negotiating with the debtor and determining the amount of the loan repurchase;
negotiating with the bank regarding the redemption criteria and its cost;
redemption of a problem loan from a financial institution;
the assignment of a loan to the trusted identity of the buyer of the factoring company or the repayment of the debt to the factoring company.

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