Southwest Credit Card Services, Ltd. has
purchased portfolios from such prestigious original creditors as Bank
One,
MoreCard,
Chemical Bank,
Household, Wells
Fargo. FCC,
Discover, and
many others. We are especially interested in purchasing
Bankcard debt; department store debt; travel card debt; and debt
for motorcycles, personal watercraft, boats, RVs.
Since we have over ten-years experience in
buying delinquent debt, SWCC is very familiar with what the seller
wants.
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Sellers do not want their buyer prospects to waste their time.
They know that there are many out there who call themselves buyers
and talk big -- but they never appear to buy anything. At SWCC
your time is valuable and so is ours. We won't stroke you. Either
we are interested or we are not.
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Sellers want their buyers to know how to properly perform
due-diligence and know what it is that they're buying. Sellers
don't want buyers to later come back saying they expected that the
portfolio was something else. SWCC fully understands
delinquent debt and has a model that will predict the recovery of
a given portfolio. Our price is based on what we expect to
recover.
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Sellers want buyers that fund when they are suppose to. With
monthly and quarterly budgets, one day late with funding can make
a big difference. Too many prospective buyers will commit to
buying a portfolio and then go look for the money. We never bid
with money we don't have available.
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Sellers want their buyers to have a track record of being
financially stable. They do not want to see accounts they
previously owned to eventually go into receivership. SWCC stands
on strong financial ground. We've been here for ten years -- and
expect to be here for another 100.
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Sellers want their buyers to give ethical treatment to their
debtors. Our methods follows state and Federal collection laws. A
buyer violating these laws is at the very least a public relations
nightmare for the seller. We go the extra mile trying to work up
an reasonable repayment plan for our debtors.
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Sellers want their buyers to process the majority of their
warranty put-backs in one batch as opposed to trickling them in to
the seller one at a time. It is much easier for the seller's staff
to focus on the verification task just once -- and then put it
behind them. SWCC handles their put-backs in this fashion.
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Sellers want to know that the buyers will use the same care when
selecting who the will ultimately resell the portfolio to when
they have finished with it. SWCC is just as concern with its
reputation as the seller who sold us the portfolio was.
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Sellers do not want to have a pest for a buyer. SWCC has bought
many portfolios where no assistance or backup media was ever
required of the seller.
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Sellers appreciate dealing with buyers who can move quickly. SWCC
can evaluate and fund with 48 hours.
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