Debts are a headache for anyone and that is why they constantly financial products are created that can prevent you from that suffering.
This is the case of the purchase of portfolio, a specific product through which the entity acquires your debt, unifies it and makes it pay a fixed monthly fee.
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Bancolombia details on its website that to purchase a portfolio at its bank it requires requirements such as a minimum amount of 100,000 pesos, filling out the necessary application at a physical branch and have an active bank card with space available.
Likewise, some key documents are requested such as a labor certificate, certificate of income and withholdings, copy of the ID and certificates that confirm the amount of your debts.
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Keep in mind that the portfolio purchase varies depending on the amount of debts and the bank in which it is done, reason why the client It is up to you to find out which one is best for you.
If you want to see what the requirements and the procedure are to carry out the process with this bank, you only have to enter this Bancolombia link and from there draw conclusions on your own.
How portfolio purchasing works in Colombia
The seller (customer) selects a group of credits that he wants to sell. These can be personal loans, credit cards, mortgages, among other elements.
The portfolio is evaluated to determine its value. This evaluation considers factors such as the debtors’ payment history, the total amount of the credits, the interest rate and the probability of recovery of debts. The valuation may include a discount to face value to reflect the risk of breach.
The buyer (bank) and the seller negotiate the terms of the transaction, including the purchase price and the conditions of transfer of collection rights.
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