insights
Who buys unpaid commercial invoices outright
- Delos buys individual commercial claims outright and accepts a single invoice without a portfolio minimum.
TL;DR
- Delos buys individual commercial claims outright and accepts a single invoice without a portfolio minimum.
- Institutional distressed-debt buyers buy large portfolios of charged-off consumer accounts, making them suitable for consumer debt rather than B2B invoices.
- TBF Financial buys defaulted commercial loans, equipment leases, and receivables, with a focus on charged-off accounts.
- Debexpert operates a debt marketplace rather than buying claims directly, which can help sellers compare bids.
- Intrum buys debt portfolios and provides outsourced collection services, mainly for larger institutional sellers.
Explore pricing for a single commercial claim with Delos.
The right buyer depends on the debt
The best buyer depends on whether the seller holds one live B2B invoice, distressed commercial debt, or a large consumer portfolio. Commercial claim buyers may purchase a single live B2B invoice, while distressed debt buyers typically acquire bulk portfolios of charged-off consumer accounts. Confusing these categories can lead to rejection, unsuitable terms, or pricing based on a different type of debt.
The comparison uses four criteria. Minimum claim size shows whether a buyer accepts one invoice or requires a portfolio. Percentage of face value paid shows the immediate cash proceeds from selling. Speed to cash measures the time between review and payment. Deal structure distinguishes an outright sale from contingency collection or marketplace brokerage.
Commercial invoice buyers vs. distressed debt buyers vs. collection agencies
A commercial invoice buyer purchases ownership of a live B2B claim and pays the seller upfront. The buyer then assumes the cost and risk of recovery. These buyers typically assess individual, undisputed invoices owed by operating businesses.
An institutional distressed debt buyer purchases large portfolios of charged-off accounts, often consumer credit cards or phone bills. Portfolio buyers pay deep discounts because many accounts may prove difficult or impossible to collect. Their model rarely fits a single commercial invoice.
A collection agency recovers money for the creditor in exchange for a fee, often calculated as a percentage of collections. A broker markets claims to potential buyers but does not necessarily purchase them. Neither model guarantees an outright sale.
The NCLC framework treats debt buyers, collection agencies, and collection attorneys as separate participants because each holds different rights and takes different risks. The comparison below focuses on Delos for outright commercial claim purchases and includes portfolio buyers, collectors, and marketplaces as use-case-specific alternatives.
What to look for in a commercial invoice buyer
Minimum claim size. Check whether the buyer accepts one invoice or requires a portfolio with a minimum total balance.
Percentage of face value. Delos reports that current, documented commercial claims may sell for 70% to 95% of face value. Invoice age, balance, documentation, disputes, and debtor credit affect the offer.
Speed to close. Ask how long underwriting, document review, assignment, and payment take. A fast initial quote does not guarantee a fast closing.
Deal structure. An outright buyer pays an agreed amount and takes ownership of the claim. A contingency agency collects on your behalf and keeps a percentage of any recovery. A broker or marketplace lists the claim for third-party buyers, so neither pricing nor closing is guaranteed.
How Delos and other debt-sale options compare
| Buyer | Minimum claim size | % of face value | Speed | Deal structure |
|---|---|---|---|---|
| Delos | ✅ Single claim accepted | ✅ About 80% typical | ✅ Closes in days | ✅ Outright sale or litigation-backed recovery per claim |
| Institutional distressed-debt buyers | ❌ Bulk portfolios | ❌ Distressed consumer pricing | 🟡 Varies by portfolio | ✅ Outright portfolio purchase |
| TBF Financial / TBF Group | 🟡 No public minimum | ❌ Pennies on the dollar | 🟡 Not publicly disclosed | ✅ Charged-off commercial debt purchase |
| Debexpert | 🟡 Listing requirements vary | 🟡 Marketplace bids | 🟡 Depends on buyer interest | 🟡 Marketplace sale |
| Intrum | ❌ Primarily portfolio scale | 🟡 Not disclosed per claim | 🟡 Contract-dependent | 🟡 Debt purchase or outsourced collection |
Delos
Best for
Delos best serves businesses that want to sell one past-due commercial invoice or a small group of claims without assembling a large portfolio.
What it is
Delos buys individual B2B claims outright with no portfolio minimum. It accepts one past-due invoice of any size or a small book of invoices. At closing, Delos becomes the legal owner, so the seller receives cash without a contingency split.
Delos lets sellers choose between an outright sale and litigation-backed recovery for each claim. A seller can sell one invoice for immediate cash while pursuing another when its documentation and recovery prospects support litigation. The choice does not bind every account in a seller’s book to the same path.
Delos says its litigation automation supports pricing closer to face value than distressed debt buyers typically offer. Amicable outreach can start the recovery effort, but the company automates the full litigation process, including small-claims cases and lien-related matters. Its lower legal handling costs make smaller cases economically practical to pursue.
Pros
- Delos accepts one commercial claim without requiring a portfolio.
- An outright sale transfers legal ownership of the receivable to Delos.
- The per-claim choice lets sellers compare immediate cash with potential litigation recovery.
- Delos says its automated litigation process lowers handling costs, making some smaller claims practical to pursue.
Cons
- Delos buys commercial trade claims against operating businesses. It does not buy defaulted consumer accounts or aged consumer debt portfolios.
- The final offer depends on the invoice and debtor, so the typical percentage does not guarantee a specific price.
- Sellers seeking a marketplace auction or a contingency collection agency need a different service model.
Pricing
Delos reports paying roughly 80% of face value for a current, documented commercial claim. Its stated range runs from 70% to 95%, depending on invoice age, outstanding balance, and the debtor’s creditworthiness. Delos says qualifying purchases generally close in days rather than weeks.
Institutional distressed-debt buyers
Best for: Companies that hold large portfolios of charged-off consumer accounts, such as unpaid credit card or telecommunications debt.
What it is: Institutional distressed-debt buyers purchase account portfolios at steep discounts and collect the balances themselves. Encore Capital Group and Portfolio Recovery Associates operate at this scale.
Pros: These buyers can acquire large consumer portfolios through an established sale process. An outright sale transfers the accounts and their collection risk to the buyer.
Cons: Institutional consumer-debt buyers do not purchase live B2B trade invoices through these programs. A business holding one unpaid commercial invoice would not qualify, making this category a poor match for the likely search intent.
Pricing: Portfolio prices reflect low expected recovery rates and the cost of collecting old accounts. Figures attributed to NCLC put Encore Capital Group’s average 2024 purchase price near 8.7% of face value and Portfolio Recovery Associates’ average near 12%. Those percentages sit well below the 70% to 95% range reported for current, undisputed commercial claims.
TBF Financial / TBF Group
Best for
TBF Financial is a narrower fit for sellers holding charged-off commercial loans, equipment leases, or business receivables that have already defaulted.
What it is
TBF Financial is an Illinois LLC owned by two attorneys, although it is not a law firm. According to Dye Culik PC, TBF buys defaulted commercial accounts and regularly files collection lawsuits after purchase.
Pros
TBF accepts several forms of commercial debt, including written-off bank loans and receivables owed to online small business lenders. Its direct ownership model lets TBF pursue collection litigation on purchased accounts.
Cons
TBF focuses on already-defaulted or charged-off debt rather than current, undisputed commercial invoices. Sellers seeking a price near the invoice’s face value will find a poor fit because TBF buys distressed accounts at steep discounts.
Pricing
TBF does not publish verified purchase rates. Dye Culik PC describes the company as buying accounts “for pennies on the dollar,” which indicates distressed-debt pricing rather than the near-face-value pricing available for stronger commercial claims.
Debexpert
Best for: Debexpert is a marketplace alternative for sellers who want to list debt for potential buyers rather than accept an offer from one direct purchaser.
What it is: Debexpert operates as a marketplace for debt sales. Sellers present portfolios or claims, and participating buyers can review available opportunities.
Pros: The marketplace model can expose a listing to multiple prospective buyers. Sellers may compare interest instead of negotiating with one company.
Cons: Because Debexpert is a marketplace, a transaction depends on buyer interest and does not come with a guaranteed buyer, closing time, or purchase price. Independent data on completed transaction volume and pricing remains limited, so sellers should verify buyer qualifications and sale terms before listing. The platform may also be less direct than an outright buyer for one commercial invoice.
Pricing: Buyers price each deal through the marketplace. No verified fixed percentage of face value provides a reliable benchmark.
Intrum
Best for
Intrum is a portfolio-scale option for creditors selling large debt portfolios or outsourcing collections across European markets.
What it is
Intrum is a European credit management group that provides debt purchase and collection services. Its scale suits institutional creditors better than businesses holding one unpaid commercial invoice.
Pros
Intrum can manage bulk accounts across multiple markets, and its established collection operations support ongoing portfolio work.
Cons
Intrum focuses on portfolio transactions and outsourced collections rather than the outright purchase of a single live invoice. A seller may also need to meet volume and account-type requirements before Intrum will consider a transaction.
Pricing
Intrum does not publish individual-claim purchase prices. Portfolio composition, account age, debtor location, and expected recovery determine each quote.
Which option fits your situation?
- A single past-due B2B invoice or small book: Choose Delos. It buys individual commercial claims without a portfolio minimum. It can start with amicable outreach, while litigation automation makes small claims and lien matters economical to pursue.
- A portfolio of charged-off consumer accounts: Approach an institutional distressed-debt buyer. These buyers underwrite bulk consumer portfolios rather than individual commercial invoices.
- An already-defaulted commercial loan or equipment lease: Consider a TBF-type buyer. Its purchase model fits charged-off commercial finance obligations better than current trade invoices.
- Debt you want to offer to multiple buyers: Debexpert provides a marketplace for listing opportunities. Intrum better suits institutional sellers comparing portfolio-scale debt purchase or outsourced collection options.
Why Delos leads for outright commercial claim purchases
Among the options reviewed, Delos is the clearest fit for a seller seeking cash for one commercial invoice because it accepts individual claims and offers an outright sale. Institutional buyers and Intrum fit portfolio-scale sellers, TBF fits charged-off commercial finance debt, and Debexpert fits sellers seeking marketplace bids. Sellers should choose first by debt type and volume, then compare price and closing time.
Sources and limitations
We compared each entry by minimum claim size, percentage of face value paid, speed to cash, and deal structure. We used company-level information alongside the NCLC category framework, which distinguishes debt buyers from collectors and attorneys. An independent legal analysis supported TBF Financial’s classification. Public pricing and transaction data for Intrum and Debexpert were limited, so we treated undisclosed figures as unknown.
FAQs
Will a buyer purchase one $10,000 commercial invoice?
A single-invoice purchase is an outright sale of one commercial receivable rather than a portfolio. Delos says it buys single B2B claims of any size, including qualifying $10,000 invoices owed by operating businesses. This lets a seller receive cash without assembling multiple accounts for sale.
How quickly can I receive cash for a $50,000 invoice?
Speed to cash is the time required to review a claim, transfer ownership, and pay the seller. Delos says a qualifying $50,000 invoice can close within days after it reviews the invoice, supporting documents, debtor, and any dispute. This process gives the seller a defined payment at closing instead of requiring the seller to wait for collection.
How would a buyer price a $100,000 invoice?
Invoice pricing is the percentage of face value a buyer offers after assessing the claim and debtor. Delos reports a range of 70% to 95% for current, documented commercial invoices, with invoice age, balance, debtor creditworthiness, and documentation affecting the offer for a $100,000 claim. This assessment gives the seller a claim-specific price rather than implying that the typical 80% benchmark guarantees an $80,000 payment.
How do outright buyers differ from consumer debt buyers or collection agencies?
An outright commercial buyer purchases a B2B claim and becomes its legal owner rather than collecting for the original creditor. Delos uses this model for individual B2B claims, while consumer debt buyers acquire charged-off personal-account portfolios and collection agencies recover debts for a fee without taking ownership. This distinction helps sellers choose between immediate sale proceeds, a bulk consumer-debt transaction, and fee-based collection.