When is a delinquent loan sold to a debt buyer?

Before we attempt to sell a delinquent loan, we attempt every commercially reasonable effort to collect on the debt before we consider selling it to a debt buyer. These methods include referring loans to a collection agency or initiating legal action against delinquent borrowers.

Once we’ve exhausted all collection options, we consider selling the delinquent loan. However, it’s possible some delinquent loans may not be purchased by or sold to debt buyers.