About the concept of DEBT-MARKET in detail
DEBT-MARKET’s concept: by bringing market players together at the same virtual spot and time the system enables both buyers and sellers to improve their efficiency and realize savings.
The sellers’ side of the bilateral online database is made up of lenders whereas the buyers’ side of factoring companies licensed by the Hungarian National Bank. Users of the concentrated market have the opportunity to offer their matured receivables and claims (bank loan, leasing, overdue utility bills, service fee, commodity loan, student loan, credit card debt, etc.) against companies and private individuals under winding up, liquidation or insolvency proceeding for sale as single debt or, to further the possibility of sales, in the form of bundled debts.
DEBT-MARKET’s most recent feature launched in 2010 is the provision of sales of non-matured bills and receivables. Via the system sellers enjoy the benefits of full market competition, prices may be compared and they can reach the best offers. The seller receives quick feedback from the market players thus he can make the most favorable decision.
On the buyers’ side of the market operated by DEBT-MARKET most of Hungary’s factoring companies are represented whereas on the sellers’ side any of the economic sectors can be found. The system mediates debts offered for sale to factoring companies. All actors of the debt’s buying sector are represented on the market. Factoring companies receive information on the whole sales market. Due to less efforts and time spent on accessing and processing information, the efficiency of these companies is improved significantly.