Awful. Liquidity Solutions contacted me regarding a customer who had declared bankruptcy, offering $0.875 on the dollar for invoices that fit a certain time period just prior to the bankruptcy declaration. I had an invoice for $3,800ish that fit all the criteria and submitted that for purchase. I was provided a boilerplate acquisition of debt contract, which was signed, promptly returned and acknowledged by the LS rep as received on January 21st. I followed up several days later and was informed that due diligence normally takes a week, so I followed up after eight days and was told the rep was just waiting to hear back from the finance department. That was on February 8th. Since then, I have not heard a word from these guys, despite repeated email inquiries and voicemails. The only response I have gotten was an OOO notification from the rep who initiated this process, noting that "I will be on vacation starting September 3rd until September 16th, returning on September 17th." WTF?
The only thing that rivals the lack of follow-through from these clowns was the bankrupt customer's inability to pay bills on time. I you're holding bad debt, look elsewhere for a place to unload it.
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