How to Sell Your Claim
It is so simple to sell your claim to CLAIMCLOUD.
Read on to learn how…
Get to know us.
Please feel free to contact our team if you have any questions. We pride ourselves in being transparent throughout the process and are always happy to discuss how we can help you sell your claim. ClaimCloud always recommends that you receive independent professional advice when considering selling your claim.
Remember.
The steps in selling your claim to ClaimCloud are relatively simple. It is, however, important to remember that each insolvency and the circumstance of each claimant is unique. This means that the process may vary as we tailor our service to your particular situation. Keeping that in mind, we have come up with a generalised outline of the process to help you better grasp how a transaction with ClaimCloud is likely to proceed.
Five General Steps.
1. Agree price
If you are a creditor considering selling your claim, your first step is to contact ClaimCloud to obtain a price for your claim.
If the price works for you, then we can proceed. If it doesn’t, that’s fine and the process goes no further.
2. Provide Proof of Debt
After agreeing the price, ClaimCloud will need to validate your claim.
If the Proof of Debt has already been admitted in the insolvency, there is little to do.
If the Proof of Debt has not yet been admitted, you will be asked to share documentation that supports your claim with ClaimCloud.
3a. Review and sign assignment documentation
ClaimCloud’s assignment documentation is designed to be relatively simple.
As a creditor, you are strongly encouraged to obtain independent professional advice before executing the documentation and proceeding with the transaction.
3b. Know Your Client check
ClaimCloud will ask you for certified identification specifically required to conduct ‘Know Your Client’ database searches. This step is required before ClaimCloud can send payment to you.
4. Receive payment
ClaimCloud sends payment to you after a ‘call back’ to double-check your bank transfer instructions.
5. The claim is assigned
After receiving payment, you are required to send a notice (drafted by ClaimCloud) to the administrator / liquidator / trustee, informing them of the assignment
The ownership of the claim is only assigned from you to ClaimCloud once you have received payment in full.
What’s next?
Contact ClaimCloud today if you have a creditor claim in an insolvency. You can the end the uncertainty regarding both the financial value of your claim and how long it will be until you receive payment.
Any information provided by ClaimCloud is not intended to constitute any financial or investment advice. Before you consider selling any claim you have to ClaimCloud, you should consider obtaining financial, tax and investment advice that takes into account your financial circumstances, objectives and needs. You should also consider any information from or published by the company you have a creditor claim with or any appointed administrators or liquidators that may impact your creditor claim.
+61 484 637 711 +1 808 465 5608 mitch@clmcld.com