DGM Bad Debts Purchased ?

[EyeOfTheTiger]

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Hi,

I received a phone call last week from a company offering to buy my £25,000 debt that DGM owed me when they collapsed. They are offering £1200 for me to assign the debt to them.

Was just wondering if anyone else has been contact by Dragon Capital Partners LLP with a view to them acquiring any bad debt you may have had in DGM's collapse and if you think its a good idea to agree to it. I seem to remember when I looked at the documents last year from the administrators that there was a slight possibility i may get back a fifth of what i was owed £5K) but as am yet to receive or hear anything further from the administrators.....I'm guessing that this company has information or insight into proceedings more than i do and could claim the £5K or whatever i can would get thus making themselves a tidy profit so I am at the moment hesitant to accept....

What do you think ?

Cheers

Mike

Re: Dealgroupmedia (UK) Ltd (In administration)

I refer to our telephone call.

We do not advertise, but Dragon Capital Partners LLP is the leading purchaser of corporate bad and doubtful debt in the country. There are no costs, fees or expenses involved. We simply pay you a lump sum now to take an assignment of the debt.

With respect to your debt shown as outstanding in the insolvency of Dealgroupmedia (UK) Ltd, we will pay the sum of £1200, (one thousand two hundred pounds).

I have a fixed budget to commit to this insolvency and am purchasing debt on a first come first served basis, so if you are interested your early response would be appreciated.

We will then send you the assignment documents and on its return we will complete the documentation and forward a cheque, usually within 7 days.

If you have any queries please don't hesitate to call.

[tijan]

For me its not worth it. Its either nothing or better than £1200. As a matter of fact i can offer you £2k for it.

[john-pp]

don't forget you (or whoever you sell the debt on to) will also be entitled to the full amount of sales/commissions generated in the two week period of the admins being assigned and them ceasing DGM trading.

And this goes for everyone who is owed commission for that period, if you haven't invoiced the admins for that yet you are entitled to do so at any time.

[bapages]

If you go for it, read the terms carefully as some require a bond for un-recoverable debts.