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Meaning of debt factoring

 

 

 

Debt factoring

 

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Business glossary

 

Meaning of term debt factoring :

 

Debt factoring is the process of raising finance by 'selling' some of your debts. When goods and services are sold the firm often allows their customers a period of credit (generally 30 days). However, if they want to raise finance and receive the money quicker, then they can 'sell' this debt to a specialist company. They will receive the bulk of the debt immediately, and the debt factoring firm will then collect the debt and take a proportion as their fee for providing the money.

 

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Debt factoring

 

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