Support of Debt Purchase Procedure in Lviv

Debt portfolio purchase is a fairly common procedure during the liquidation of banks or in situations where a borrower experiences difficulties repaying a loan. Debt purchase is beneficial for both the borrower and the bank, and sometimes it is the only way to deal with a difficult financial situation.

Debt Purchase with OLSON Law Firm Lviv.

The benefits for the borrower are clear:

• they avoid fines and penalties,

• they gain the ability to repay funds in a convenient mode without unnecessary overpayments,

• they can repay the debt even in areas where, after the closure of the bank that issued the loan, there is no way to pay the debt directly,

• they have the chance to maintain a clean and untarnished credit history.

For the bank, selling the right to claim allows it to receive the required amount and reduce the percentage of non-performing loans, thereby improving liquidity. The bank avoids losing funds or selling the debt to collectors, which often harms its reputation.

The most challenging part is finding a reliable company that will purchase the credit on favorable terms. In addition, it is equally important to properly draft the agreement between all parties.

Support from an experienced lawyer during the debt purchase procedure helps avoid many mistakes that could lead to significant problems in the future.

The support includes:

• initial consultation with the client regarding all aspects of the debt portfolio purchase,

• analysis of existing documents that provide details of the unpaid credit,

• negotiations with the bank or lending organization, development of a strategy acceptable to all parties,

• preparation of a commercial proposal for the bank, conducting negotiations, and legal assistance up to the signing of the assignment agreement.

Our company will act as an intermediary in negotiations between the Deposit Guarantee Fund, the bank itself, or the temporary administration of an insolvent bank. With professional support in the debt portfolio purchase, you will have the opportunity to resolve your debts on acceptable terms for both parties!