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Debt Purchasing
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awurie11
#1 Posted : Thursday, July 10, 2014 11:24:44 PM
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Joined: 5/12/2014
Posts: 3
Does anyone have information or comment ons debt purchasing business in Kenya, is there an existing market out there, Regulations? cant seem to find anything online.

Just to be clear dept purchasing is different from debt collection, they are plenty of collection agencies out there but is there anyone buying bad debt portfolios from credit providers.


Looking forward to your comments.smile
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Boris Boyka
#2 Posted : Friday, July 11, 2014 12:01:22 AM
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Joined: 11/15/2013
Posts: 1,977
Location: Here
awurie11 wrote:
Does anyone have information or comment ons dept purchasing business in Kenya, is there an existing market out there, Regulations? cant seem to find anything online.

Just to be clear dept purchasing is different from dept collection, they are plenty of collection agencies out there but is there anyone buying bad dept portfolios from credit providers.


Looking forward to your comments.smile

Fafanulia wanjiku "dept" mimi manajua " debt" peke yake. tafazari
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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celinaB
#3 Posted : Monday, July 14, 2014 10:17:21 AM
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Joined: 7/14/2014
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Thanks for the post. I would go for the purchasing where we can enjoy the service.
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icecube
#4 Posted : Monday, July 14, 2014 10:59:27 PM
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Location: Nairobi
So is it "dept" or "debt" we are talking about here? And if it is debt, why would someone want to buy a debt that is already bad? My understanding of a bad debt is one that cannot be re-payed or is in default? No? Isn't buying bad debt bad a business...or?
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icecube
#5 Posted : Monday, July 14, 2014 11:00:59 PM
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celinaB wrote:
Thanks for the post. I would go for the purchasing where we can enjoy the service.



Please elaborate.
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wanyee
#6 Posted : Tuesday, July 15, 2014 8:38:41 AM
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Sounds like derivatives...right?..thats how subprime..fannimae.freddie mack...merlyn lynch.* names may be incorrect*.started
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real cindano
#7 Posted : Tuesday, July 15, 2014 10:46:08 PM
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Joined: 6/1/2010
Posts: 87
Location: Zimbalabala
wanyee wrote:
Sounds like derivatives...right?..thats how subprime..fannimae.freddie mack...merlyn lynch.* names may be incorrect*.started


What awurie wants to do is buy "bad" debt from you and then he has the problem of recovering it. For example if you Wanyee owe Cindano 1 Milli and you have refused to pay and i have written off this debt from my books i can sell this debt to awurie for say 10K. Awurie then has to try and collect as much as possible of the 1 million debt you owe me.

Am i right awurie??
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icecube
#8 Posted : Wednesday, July 16, 2014 1:04:21 AM
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Location: Nairobi
real cindano wrote:
wanyee wrote:
Sounds like derivatives...right?..thats how subprime..fannimae.freddie mack...merlyn lynch.* names may be incorrect*.started


What awurie wants to do is buy "bad" debt from you and then he has the problem of recovering it. For example if you Wanyee owe Cindano 1 Milli and you have refused to pay and i have written off this debt from my books i can sell this debt to awurie for say 10K. Awurie then has to try and collect as much as possible of the 1 million debt you owe me.

Am i right awurie??


So if Wanyee has already refused to pay, how will Awurie manage to collect the debt?
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real cindano
#9 Posted : Wednesday, July 16, 2014 6:09:52 PM
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Joined: 6/1/2010
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Location: Zimbalabala
icecube wrote:
real cindano wrote:
wanyee wrote:
Sounds like derivatives...right?..thats how subprime..fannimae.freddie mack...merlyn lynch.* names may be incorrect*.started


What awurie wants to do is buy "bad" debt from you and then he has the problem of recovering it. For example if you Wanyee owe Cindano 1 Milli and you have refused to pay and i have written off this debt from my books i can sell this debt to awurie for say 10K. Awurie then has to try and collect as much as possible of the 1 million debt you owe me.

Am i right awurie??


So if Wanyee has already refused to pay, how will Awurie manage to collect the debt?


That's awurie problem....
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Boris Boyka
#10 Posted : Wednesday, July 16, 2014 11:12:15 PM
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Posts: 1,977
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real cindano wrote:
icecube wrote:
real cindano wrote:
wanyee wrote:
Sounds like derivatives...right?..thats how subprime..fannimae.freddie mack...merlyn lynch.* names may be incorrect*.started


What awurie wants to do is buy "bad" debt from you and then he has the problem of recovering it. For example if you Wanyee owe Cindano 1 Milli and you have refused to pay and i have written off this debt from my books i can sell this debt to awurie for say 10K. Awurie then has to try and collect as much as possible of the 1 million debt you owe me.

Am i right awurie??


So if Wanyee has already refused to pay, how will Awurie manage to collect the debt?


That's awurie problem....

awurie could threaten you,auction your valuables, sale you to blood drinkers, export you to slavery/gaypimp, take your airport&runway for landing or worse send you MADIMONI. id rather pay my debt than be taken to awurie!!
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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erifloss
#11 Posted : Tuesday, August 05, 2014 12:57:21 PM
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Joined: 6/21/2010
Posts: 514
Location: Nairobi
Very good business. There are big corporates that are listed outside Kenya ofcourse who do this.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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maka
#12 Posted : Thursday, August 14, 2014 11:24:17 PM
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Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
erifloss wrote:
Very good business. There are big corporates that are listed outside Kenya ofcourse who do this.

Can't work in Kenya unless certain legislation comes into play.
possunt quia posse videntur
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