Escrow services for Debtcatcher customers only

Debtcatcher Escrow Services: Simplified Explanation

Understanding Escrow

Escrow is a secure financial arrangement used in transactions to protect both buyers and sellers. An independent third party, in this case, Debtcatcher, holds the payment until all transaction terms are fulfilled. This service is particularly valuable in online transactions with unknown parties, providing security and trust.

How Debtcatcher Escrow Works
Step 1: Agreement on Terms

The buyer and seller agree on the transaction details, including the debt/portfolio, sale price, and transfer of ownership.

Step 2: Payment to Debtcatcher

The buyer sends the payment to Debtcatcher, who then confirms receipt to the seller and securely holds the funds.

Step 3: Seller’s Documentation

The seller must provide all necessary documentation to the buyer within 48 hours. Failure to do so leads to a refund to the buyer.

Step 4: Buyer’s Approval

The buyer has 48 hours to review and accept the documentation. If they don't object, the sale is confirmed. They can also reject the sale within this period for a full refund.

Step 5: Finalizing the Sale

The seller must provide a signed assignment and bill of sale within 48 hours. If this is done, Debtcatcher pays the seller. If not, the buyer is refunded.

Rules and Fees
  • Bank Account Requirements: Users must register a bank account in their exact name, whether as an individual or a company.

  • Direct Transactions Only: Payments must be made directly from and to the registered bank accounts, with no third-party involvement.

  • Fees: Transactions are charged at $30 plus a 2{17e1ece3b4bb9e395bf08f9781510db027abb78892df3974434697feae27b5f2} commission on the transaction amount. For example, a $300 transaction would incur a $6 commission, totaling $36 in fees.
Please complete this form to initiate your secure transaction with Debtcatcher Escrow Services
Buyer's name
Seller's name