Our debt collection agency facilitates purchasing, restructuring and/or collection of loan indebtedness in New York City. At present, we are focused exclusively on the loan indebtedness collection. We act both as third-party assignee (which means that we replace the original creditor) as well as the collection agents.

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The debt should meet the following requirements: 

1. The debtor resides in the State of New York. We do not collect or purchase out-of-state indebtedness;

2. The debt has not been prepaid in fully in any form; 

3. The full amount of the debt is due and owing by the debtor to the assignor; 

4. The debt is due less than 365 calendar days; 

5. The statute of limitations (usually it is 6 years period) has NOT passed;

6. The debt was not discharged in bankruptcy;

7. The debt is not a payday loan or any other type of a high-interest loan;

8. There is no identity mistake in the personality of the debtor. 

 

If you are not the original creditor, but an assignee or successor: 

1. The debtor has been informed about the assignment;

2. The assignor now has a good right, full power and absolute authority to assign its right, title and interest in and to the debt;

3. The assignor has not been unjustly enriched from the debtor or any other person in any way in course of the Contract;

4. The assignor is not violating the duty of good faith and fair dealing in any way toward any person;

5. The contract between the debtor and assignor is neither unfair nor unconscionable.

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We use the following criteria to evaluate indebtedness when considering whether to purchase it:

1. Credit history: We review the borrower's credit history to assess their risk of defaulting on the loan. This includes information such as their payment history, the types of credit they have, and the amount of debt they have.

2. Capacity: We consider the borrower's income, employment history, and debt-to-income ratio to determine whether they can afford to repay the loan.

3. Collateral: We evaluate the value of any collateral or guarantee that the borrower has pledged to secure the loan.

4. Capital: We consider the borrower's savings, investments, and other assets to assess their ability to repay the loan if they experience a financial setback.

5. Conditions: We consider the purpose of the loan, as well as environmental and economic conditions, when making a lending decision.

We may also consider other factors, such as the borrower's industry and the type of debt. We use this information to make a decision about whether to purchase the indebtedness and, if so, at what price.