Before Debt Buyers can
review portfolios and subsequently offer to purchase any
portfolios on the DSP site, they must first be approved
as qualified buyers of debt. This quality assurance review
will be performed to provide the sellers
of posted portfolios with a buying community where
members have already passed a first level of due diligence.
This quality assurance will not ascertain the credit worthiness
of the potential transaction partner. That process and resulting
decision will remain the responsibility of each
The quality assurance process will be performed as
- Each prospective buyer will complete the buyer application form online at our Web site, debtsales.us.
- Upon receipt of the buyer application form, DSP may request the prospective buyer to provide more information describing his/her debt-buying experience. The DSP Buyer Datasheet will be used for the collection of additional information.
- The informational review will consider the applicant's background as a potential debt buyer, including debt-buying experience or intent.
- Finally, DSP will conduct a brief telephone interview with the applicant before approving him/her as a qualified DSP buyer.
In addition, depending upon the type of buyer, the prospective member may require some form of malpractice insurance to satisfy certain sellers.
DSP will attempt to identify and exclude buyers not fulfilling the rules of the buying community as described in the
This quality assurance process provided by DSP adds value for both the seller and the buyer. In the current environment, many buyers and sellers know each other. As the community grows, it is less likely that the buyer and seller will know each other. This quality assurance process aids in the initial acceptance of the potential buyer. DSP does not profess to the credit worthiness of the buyer. It is ultimately the responsibility of sellers to assess credit worthiness in making the decision to sell a given portfolio of debt to the party of their choice.