Welcome to DoFinance Insights and outlooks! Yet another month has passed!
In this blog DoFinance provides further information on activities of Loan Originators.
As stated in previous blog posts, economically the most reasonable solution is sale of outstanding debt portfolios to cut off fixed costs that are just as large as funds collected.
In this regards Dofinance is encouraging Loan Originators to sell their portfolios as soon as possible. Below is the report on the progress that Loan Originators are actively pursuing for the past few weeks now.
Portfolio Sale in Poland
Last week the Loan Originators that work with DoFinance had a chance to negotiate the sale of non-performing part of portfolio with the potential buyers.
The two biggest polish debt collections agencies in Poland took part in negotiations with the Loan Originators.
One of the aforementioned debt collection agencies in Poland has managed to provide a substantial offer to Loan Originators regarding the portfolio sales price.
A memorandum of understanding is in the process of being signed for the period when Due Diligence will be conveyed.
According to the meetings the sale could happen as soon as the end of November. Once the memorandum of understanding will be signed, a more detailed information will be provided.
Portfolio Sale in Indonesia
What concerns Indonesia, in the latest round of portfolio sale negotiations the Loan Originators almost struck a deal with the biggest Debt collection agency in Indonesia as well.
Despite the tremendous effort the portfolio sale agreements were not signed due to the inadequate price tag offered by the Indonesian Agencies.
The Loan Originators continue to seek for the better price offer in order to better meet the interests of the DoFinance investors and be provide the ability to settle final accounts.
As soon as the agreement concerning the portfolio sale in Indonesia is signed, we will notify the investors of DoFinance.
In the meantime, Dofinance, as well as, Loan Originators have reduced their costs to absolute minimum and resorted to some serious outsourcing in the pursuit to lessen the financial burden. Until that, the waste amount that comes in the form of fixed costs (such as the costs of information systems and servers) or the costs of legal proceedings still have to be accounted for and funded from the accounts of Loan Originators.
That sums up today’s Blog Update. Please stand by for further updates, and as always, feel free to contact our support for any additional questions.
We wish you a wonderful day and a productive week ahead!