The following Q&A do not cover every aspect that one may need. For more information Please contact us.
TRCM has refined its assignment processes to provide you with cash as soon as possible. This will allow you to avoid a potentially long bankruptcy process to monitor and wait until its conclusion to receive any money from the estate. Additionally, selling your claim now for cash eliminates the risk and uncertainty and secures your cash recovery for your claim. Bankruptcy outcomes can be very uncertain. The risk for vendor or service provider claims are often greater as unsecured claims are positioned just above equity holders for recoveries and are often the last creditors in line to receive distributions. They may receive distributions of cash, stock or bonds, or a combination thereof, if any.
Selling your claim is a fairly simple process consisting of two steps.
1. You will be sent a three-page sale agreement which identifies the claim, price, bankruptcy case, and the terms and conditions of the sale to review, sign, and return. At the same time, you will also be sent an Evidence of Transfer document to sign and return for us to file with the court. If necessary, we will ask you to send us your invoices supporting the amount of your claim for review.
2. Upon receipt of the requested documents, TRCM will perform the appropriate due diligence of supporting documentation of the claim and the signed documents. Once a satisfactory review is complete, the agreement is countersigned, the wire payment is submitted for payment to you, and the Evidence of Transfer is filed with the appropriate bankruptcy court.
TRCM handles all the administrative processes so the whole process from the time of the receipt of a signed agreement until the funds are wired is usually within 24 business hours. All costs associated with transferring the claim are covered by TRCM and no fees are passed on to you.
Absolutely not! TRCM assumes the risk of recovery and timing of payments.
TRCM is only entitled to repayment if there is a problem with the face amount of the specific claim you sold us. For example, if your claim was paid before you sold it to us you would have to repay us. Please see the Assignment Agreement for more information relating to this.