Common Questions About Debt Purchase
Can I submit debt that has already been chased by another agency?
Yes. We can review debts that have already been pursued internally or by another agency. Previous recovery activity doesn't automatically rule out purchase or assignment but we will need to understand what action has already been taken.
Do I have to accept the valuation or proposal?
No. After reviewing the debt, we will explain the route available and the terms attached to it. You can then decide whether the proposed outcome makes commercial sense for your business.
Will the debtor be told if the debt is purchased or assigned?
Yes. If a debt is purchased or assigned to Redwood Collections, the debtor will be notified in writing. From that point, communication is handled by us in line with data protection.
What information do I need to provide?
We'll typically need details of the balance, debtor, invoice history and any previous communication or recovery activity. This helps us review the debt properly before confirming whether Outright Purchase or Collection Share is available.
