Bishop Warden is a New Zealand-owned specialist debt solutions company offering businesses cash up front for the purchase of bad debt portfolios. Traditionally, businesses with bad debt portfolios have had two options:
1. Pursue collection
Bishop Warden delivers a third option: Let us purchase the debt from you, freeing up your valuable time to focus on running your business. We can pay you cash
immediately, generating cash flow and saving you and your staff from the ongoing time and inconvenience of pursuing the debt yourselves, with the risk that you may never succeed in getting the debt paid. Our aim is to give businesses carrying bad debt the option of selling that debt to improve cash flow and clean up balance sheets. When the entirety of debt collection costs are considered – staff time and resources, legal expenses and collection fees – selling the debt to a third party can not only be more cost-effective, it can simply make more sense. The benefits of selling a debt, rather than carrying it, include:
• More efficient use of staff time
• Lower overhead costs
• Cleaner balance sheets
• Eliminating stress and anxiety
• Improved business efficiency and cashflow
We purchase a large range of debt categories that include, but are not limited to:
• Trading debt (debtor ledgers)
• Goods and/or services that have not been paid for (90 days and over)
• Unpaid rent arrears
• Defaults on loans
• Insolvency debt
• Small claims tribunal debt
Please note that, while we would like to purchase any and all debt, there are some limitations in the types of debt we can purchase, which we will be happy to discuss with you. Before we contractually commit to buying your debt we will:
• Conduct a legal assessment of the status of the debt and the nature and scope of any associated contracts.
• Undertake a process of due diligence on the parties concerned.
• Expect your full cooperation and disclosure of all pertinent details throughout the assessment process. Following a satisfactory conclusion to the processes outlined above we will then present a contract for signature and arrange for the immediate electronic transfer of the agreed amount to your account. Contact us
P: 09 320 0813
E: [email protected]
