What is 'debt sold' in SAP IS-U-BI - Contract Billing?

debt sold - Overview

• Component: IS-U-BI

• Component Name: Contract Billing

• Description: Creditors can sell debts of their defaulting customers to a third party usually a debt purchaser or debt collection agency for a certain price a fragment of the original debt's amount.

debt sold - Details

• 
  Key Concepts: 
  Debt sold is a process in SAP IS-U-BI Contract Billing that allows a company to transfer its debt to a third party. This process is used when a company is unable to collect on its debt and wants to transfer the responsibility of collecting the debt to another party. The third party will then be responsible for collecting the debt from the customer. 
  
  How to use it: 
  In order to use the debt sold process, the company must first create a contract with the third party. This contract should include details such as the amount of debt being transferred, the payment terms, and any other relevant information. Once the contract is created, the company can then transfer its debt to the third party by entering the details into SAP IS-U-BI Contract Billing. 
  
  Tips & Tricks: 
  When creating a contract with a third party for debt sold, it is important to ensure that all relevant information is included in the contract. This will help ensure that both parties are aware of their responsibilities and that all payments are made on time. Additionally, it is important to keep track of all payments made by the third party in order to ensure that all debts are paid in full. 
  
  Related Information: 
  For more information about SAP IS-U-BI Contract Billing and how to use it, please refer