With less than 2 months left in the 4th quarter, all departments in financial institutions are frantically examining their numbers. ¬†Jobs are at risk should targets not be met. ¬†Odds are, you have been monitoring the progress of those numbers throughout the year and everything is lining up nicely for¬†December 31. ¬†Should you be in charge of the collection department, that may not be the case due to a decline in inventory since cleaning house after the recession. ¬†Or, you may just want to knock the socks off your boss by trying something new that sends profits soaring, crushing goals in an area no one expected. ¬†How could you possibly increase profits, with little effort, the holidays approaching and not much time available? ¬†Sell your charged off¬†commercial paper!
When referring to commercial charge offs, this is the paper that is¬†uncollectable. ¬†It has been cycled through the internal collection department, law offices and multiple agencies. ¬†The accounts are determined dead, collecting dust in a warehouse. ¬†At this point, the institution has determined this paper¬†has no value and wrote its¬†value down to zero.
Here is where selling these delinquent accounts adds value! ¬†TBF Financial will buy these accounts and pay cash at closing. ¬†That cash goes directly to your bottom line as a recovery, INCREASING PROFITS OUT OF NOWHERE! ¬† The transaction can be closed quickly and with little effort by the seller. ¬†The due diligence requirements are minimal and pricing is quick.
The more there is to sell, the more money that can be recovered. ¬†The only requirement is that the paper is non-performing commercial paper! ¬†We buy equipment leases, bank notes and lines of credit, judgments, pre-agency, post agency, foreclosures, secured, unsecured, etc. ¬†As I said, it only needs to be non-performing and commercial. ¬†We even buy paper that is up to 4 years old from the date of default!
Now, how much easier can it be to impress your boss?
Director of Business Development for TBF Financial, LLC