Debt Purchase Solutions
With our debt purchasing solution, we buy your debt upfront. We’ll offer you a fixed settlement price you agree on, in exchange for acquiring your Scheme’s historic levy debt, as well as your legally raised charges and utilities such as water and electricity.
Because there is no repayment, interest, or fees payable by the Scheme, we take on all the risk while your community scheme gets access to immediate funding. In doing so, you avoid a debt trap.
Why choose Stratafin’s debt purchase solutions?
How does debt purchase work?
DEBT PURCHASE PROCESS
A Stratafin representative will ask you for information regarding your community scheme's outstanding levies.
Stratafin will provide an investigative offer to purchase debt.
Once the investigative offer is accepted, we follow a Due Diligence process whereby we ask for the relevant compliance documents.
Final offer is provided based on findings in the Due Diligence process.
AGM/SGM notice is given with Stratafin's final offer to purchase on the agenda.
Majority vote is obtained at the AGM/SGM in favour of the final offer presented.
Contract is drawn up and signed by the Community Scheme Trustees.
Documents related to the AGM/SGM are provided along with the signed contract.
Debt purchase amount is paid to your Community Scheme.
Debtor Statements are sent to Stratafin monthly.
Call defaulting owner - try to arrange payment or acknowledgement of debt
Letter of Demand
Attachment of moveable property
Application to attach immovable property
Sale and execution