One of our large brick-and-mortar retail vendors went into bankruptcy last year. After I had submitted our claim with the bankruptcy court, it wasn't long before I received an email from XCLAIM that notified me of a settlement offer.
Thankfully, we had purchased credit insurance with this retailer vendor. But we still wanted to recover the funds as much as possible and only submit the remaining balance to our insurance so as to avoid a premium increase.
At the time, we did receive a few other competing offers, but through XCLAIM we were offered the best rate.
At the time, we did receive a few other competing offers, but through XCLAIM we were offered the best rate. Compared to the other offers I got, XCLAIM made it really easy to proceed. I was able to signup and click to see more information about the settlement offer, which was outlined really clearly. From our point of view, there was really no harm in us initiating this process because it would just depend on if we got money in the bank.
From our point of view, there was really no harm in us initiating this process because it would just depend on if we got money in the bank.
For us, the settlement rate definitely matters and through XCLAIM we were offered really competitive rates. Because I received a lot of other competing offers, I was able to get a sense of what seemed to be a reasonable offer in the market for my claim.
Once I decided to proceed with accepting the settlement offer I got on XCLAIM, I made a proposal to my VP of Finance to get his final approval to move forward with selling this liability and to finalize the deal.
At least we got to receive the cash earlier, and that helped with our operations.
After we had sold our claim, I found out that the Debtor ended up getting acquired. At least we got to receive the cash earlier, and that helped with our operations.
Making the decision to sell the claim was an easy one. Part of the reason to sell was to get cash back faster, but we also still had the safety net of the remainder being covered by our credit insurance.
XCLAIM made it really straight forward from the start. The process was fairly easy and that's why we went ahead and completed the deal with XCLAIM.
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