FAQs

View our most frequently asked questions.

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After I have sold my claim, do I need to inform the court and/or the claims agent?

When you transact through the Xclaim Marketplace, Xclaim takes the hassle out of trading. We handle all required filings so you can quickly move on with your business. As soon as a trade closes, Xclaim automatically submits the necessary documentation to the court and informs the claims agent in the relevant bankruptcy case.

Does Xclaim preclude an investor's relationship with creditors?

No. We notify creditors that their claim is available on the Marketplace to create a warm introduction so they are ready for a conversation.

How can I track the status of my bids?

Xclaim will immediately notify you of any response from a creditor. All trading activity can also be viewed in your private activity logs.

How do I know if a buyer is legitimate and that marketplace transactions are secure?

We independently verify each capital provider before they are registered to access and purchase claims using the Xclaim Marketplace. Using the latest technologies, we ensure a safe environment that protects your data and payment information.

How do I register to trade?

Easy. Request access to the Marketplace and we will schedule a conversation to get you started in no time.

How does Xclaim source claims?

The Marketplace is synchronized to the official claims registers maintained by the court-appointed claims agent in each bankruptcy case.

How long does it take to purchase a claim?

We are able to fully settle a claim transfer in less than a minute from the time both parties have signed the transfer agreement. Through integrations with the bankruptcy court and claims agents we handle all of the administrative work of noticing the court and getting the claims register updated.

How long will it take to sell my claim?

It depends. While some claim holders receive an offer to sell and close within days, every situation is unique. The timing of interest in your claim depends on macro and micro economic factors as well as the status and timeline of the bankruptcy case in which your claim is filed. By registering with Xclaim, claim holders get access to more options and the best chance at expediting their recovery.

How much can I expect to receive for my claim if I sell it on Xclaim?

It depends. Registered buyers will conduct independent diligence on the value of the debtor's estate available for distribution and other factors that impact the recovery prospects for your claim. If you receive an offer to purchase your claim from a buyer, you have the right to counter, reject or accept that offer. By registering and creating an account with Xclaim, you can boost the visibility of your claim to attract more buyer competition, which typically results in a higher, quicker payout for claim holders.

I want my team to review the claims. How do I do that?

We’ll onboard any authorized users from your organization.

If Xclaim is free, how does the company earn money?

Capital providers such as financial institutions, investment firms, and hedge funds pay us a fee when they purchase a claim on the Xclaim Marketplace. This is why we can offer our services at no cost to claim holders.

Is Xclaim a buyer or broker of claims?

Xclaim operates the Xclaim Marketplace and related services but is neither a buyer nor broker of claims. Independent affiliates of Xclaim may purchase claims or broker claims for clients that wish to remain anonymous.

Is any claim really available in the Marketplace?

Although the Xclaim Marketplace does not include secured claims, we have over a million priority, administrative, 503b9 and general unsecured claims available for trading.

What is the cost to use Xclaim?

We firmly believe that every claim holder should be entitled to recover the highest possible amount on their claim. That is why we charge zero fees to claim holders to register, list, sell, or transfer claims or to access resources on the Xclaim Marketplace.

Will a Buyer definitely purchase my claim?

Xclaim operates a marketplace of unpaid receivables, litigation claims and other bad debts against companies in bankruptcy to enable claim holders like yourself to circumvent the bankruptcy process and move on faster. On the Xclaim Marketplace, claim holders can connect with verified buyers and selectively sell their claim to the highest bidder. We cannot guarantee that by registering for an account with Xclaim or indicating interest in selling your claim you will receive an offer or that a capital provider will agree to purchase your claim. But, as a registered claim holder, you'll access to the largest network of verified buyers and retain complete control over whether and when to trade your claim—and over the terms of any transaction.

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