Welcome to the Fast Track Debt Exchange

What is the FTDX?

Welcome Investors and Debt Collectors to the Fast Track Debt Exchange ('FTDX'). The FTDX is a new online market place where business related debts can be bought and sold. In addition, details of Units available for purchase in Unit Trusts that have been and/or are to be established to purchase larger commercial debts are included on the FTDX.

If you are looking to get a healthy short term return on a relatively small investment, consider buying a Listed Debt on the FTDX.

Become an FTDX Member.

Enter the FTDX

Q: How does the FTDX work?

The FDTX works much like any other online market place. In most cases there is a Sale Price and a Offer Period. Offers to buy a Listed Debt are submitted online via the FTDX. If your offer is accepted the debt is yours to collect. Listed Debts will usually already be subject to a payment agreement with a right to commercial interest so no active collection is required.

 

If the Listed Debt is not sold for the Sale Price during the Offer Period the Debt Owner can choose to accept the highest offer for the debt.

 

When the purchase of larger commercial debts are negotiated we will typicall establish a Unit Trust to purchase the debt. Invitations to purchase Units will also be made available on the FTDX. Information Memorandums corresponding to the Unit Trust opportunity can be found on the FTDX together with corresponding Expression of Interest instructions.

Q: What Debts can be listed on the FTDX?

Only ‘business related debts’ that are not governed by the National Credit Code can be listed on the FTDX. This is because the buying and selling of these debts does not require a buyer or seller to hold a Credit Licence.

 

In general, a ‘business related debt’ is a debt owing from or in respect of:

• a Company, and

• credit that was not provided:

                wholly or predominantly for personal, domestic or household purposes, or

                in relation to the purchase, renovation or improvement of residential property for investment purposes.

Q: Who can buy a Listed Debt?

Only FTDX Members can buy or make offers to buy a Listed Debt. FTDX Members receive regular notifcations by email of newly Listed Debts.

 

Become an FTDX Member.

Q: Why would I buy a bad debt?

We try not to list bad debts on the FTDX. Even though a debt might be considered bad where a debtor can't pay a lump sum when due, once the debt gets converted to an income stream with a right to interest at a commercial rate the debt ceases to be a bad debt. If the debtor grants security for payment and/or the debt is personally guaranteed by a third party, for example, when a debtor enters into a Fast Track Payment Agreement, the debt becomes a good secured debt and is tradable as a future income stream. The sale price is the net present value of that future income stream.

Q: How are debts listed on the FTDX?

To list a Debt on the FTDX the Debt Owner must warrant that the Debt is not disputed. In most cases, the Listed Debts  have been acknowledged by the Debt and are subject to an instalment arrangement or a Fast Track Payment Agreement.

 

To list a Debt on the FTDX call and speak to our FTDX Manager on 0249 100 440 or email us.

Q: What is a Fast Track Payment Agreement?

The Fast Track Payment Agreement is a unique and copyright protected legal document utilised by Fast Track Debt Collection to make legally binding payment agreements between debtors who have submitted a payment plan offer via our exclusive Payment Plan Offer port and clients who wish to accept that offer. We utilise the latest technologies to cause these agreements to become binding via exchange of electronic communcations. A Fast Track Payment Agreement is used when a creditor agrees to accept payment of a debt by instalments or to refrain from enforcing their rights until a future date on which payment will be made by a lump sum.

 

The Fast Track Payment Agreement will create important additional rights for your business in relation to a debt should the debt not subsequently be paid in accordance with the agreed terms or if you wish to sell your rights to payment of the debt, for example, by listing the debt for sale on the FTDX.