Many people think that "debt" is a special commodity and not everyone wants to buy it because debt collection is never easy.
So, for an entity to accept to buy a debt and accept its own risks, why must they bind so many conditions for them to be able to buy that debt?
Debt is a kind of "commodity" to buy and sell normally?
Debt purchase and sale is defined as the fact that the debt seller transfers the creditor rights of the debt to the debt purchaser and receives payment in cash from the debt purchaser. Thus, debt purchase and sale is a transaction in which the rights and obligations towards a debt are transferred from one subject to another.
“Debt” in this case includes all liabilities that arise in different transactions, and so in a debt transaction, it is just a common type of “commodity” for sale.
The subject of the debt purchase and sale transaction in this case can be any business entity, except for professional entities such as credit institutions, securities companies.
The entire transaction does not change the debt repayment obligation or debt, but only the subject of that obligation.
Should it be restricted or encouraged?
Commenting on the Draft Decree amending business conditions under the management of the State Bank of Vietnam, VCCI (Vietnam Federation of Trade and Industry) said that "debt" is a special commodity and is not Not everyone wants to buy because the fact shows that debt collection has never been easy.
Therefore, for an entity to accept to buy a debt, accept its own risks (may not be able to collect the debt, arise disputes from the debt), why is it necessary to bind so many things? so they can buy the debt?
Moreover, from a market perspective, it is necessary for entities to buy debts to open up capital flows and create favorable conditions for businesses in particular and the business environment in general.
