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Delinquent consumer debt is money owed when an individual uses credit to purchase products or services, and then defaults on paying back the bank or comapny that extended the credit. The term "delinquent debt" or "bad debt" refers to the debt that is more than 30 days overdue. Debt that is less than 30 days overdue is not categorized as delinquent.

Delinquent debt can arise from retailers, service providers, financial institutions, hospitals, and any other business that allows its customers to pay using credit. The most common sources of delinquent debt include:

Credit Card Charge-Offs - Credit card charge-offs are created when a bank or retailer decides it is no longer profitable to collect on its customers' outstanding credit card debt. Banks and retailers sell these charge-offs for pennies on the dollar.

Student Loans - Student loans offered by privately-owned truck driving schools, culinary institutes, pet grooming schools, cosmetology schools, bartending schools, and other technical and vocational schools that provide in-house financing to their students. Our funding sources purchase only non-GSL (Guaranteed Student Loan) loans.

Retail Installment Contracts - These are agreements between retailers and customers to pay for goods over time.

The Benefits of Selling Bad Debt

Selling bad debt is beneficial because it:

• Provides immediate cash for the business. The business no longer has to wait to collect a percentage of the accounts when -- and if -- they are paid.

• Allows the business to turn a liability into an asset.

• Removes the collection burden from the business' shoulders. Few businesses have expertise in collections or in-house employees to handle collections. By  selling bad accounts, they no longer have to tackle the collection process.

• Relieves the business from the concern that they will alienate their customers through in-house collections efforts.

Murcor Funding works with institutional investors that purchase delinquent debt portfolios for cash. These funding sources specialize in buying bad debt portfolios; however, some of them also offer additional services. We can match you with a funding source that will meet your needs.

Contact Murcor Funding today to find out more about selling you delinquent debt.

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