Results 1 to 2 of 2
  1. #1

    Recovering on Defaults-The Best of Both Worlds

    There is an inherent problem with filing COJ's and doing nothing but. There is a missing component.

    The lawyer you hire, and regardless of who it is, will do what lawyer's do. They will send restraints to bank accounts and known account receivable. In no way will the lawyer call the merchant to try and work out an agreement. Unless the merchant calls the lawyer, they aren't speaking. Believe me on that.

    When an account is seized, the lawyer will send the marshal to realize upon the restraint. This is standard practice. This will cost any funder 5% of not only what is restrained but 5% of the balance of the account should the merchant pay the judgment balance left after the restrained funds are taken. This means that even if the lawyer and marshal recover a small portion of the balance, the funder is on the hook to the marshal for the 5% fee on any amount paid thereafter.

    Therein lies the other problem. If a lawyer has successfully seized 50K of a 100K judgment, will he call the merchant and figure out a plan of what is left owing? I already know the answer, it is a resounding NO. This means that unless the lawyer successfully seizes all of your judgment which for the record is almost never, there is a huge amount that remains unpaid. How about the scenario's where judgement is filed but nothing was successfully seized. Your judgment will collect dust. It won't be called and the leverage of simply having a judgment will not be used properly to convince the merchant to pay the court order.

    I have developed a relationship with an extremely skilled attorney who can do everything that your current attorney’s do but also allows myself to work in conjunction with his efforts. This set up is extremely unique and is already yielding exceptional results. We are converting at double the rate of conventional law firms and saving those that have engaged us significant costs.

    The reasons are simple.

    1) You would be forced to spend considerably less on marshal costs because once the attorney restrains an account, and with my conjunctive efforts, the merchant will sign a conditional release where they voluntarily remit the funds to us. Not only would a funder save the 5% on the cost of the money seized but they would not have to pay the 5% on the balance remaining should the merchant pay it. The savings on the marshal costs alone are substantial.

    2) Because I work in conjunction with counsel's efforts, I am able to get the merchant to agree on a plan to pay the balance owing (should any remain after his account was seized). Instead of just getting what we seized, there is a plan on what remains. Conventional attorney's simply do not do this.

    3) The rate for all of this is actually less than costs being charged elsewhere.


    The bottom line is this:

    In place of just having a lawyer roll the dice on restraints hoping they get a “hit" which any lawyer can do, you have myself, an individual who has proven himself to recover the un-recoverable following up and making sure the proper accounts are targeted for restraint along with accounts receivable. The law is powerful and the ability to disseminate this to each merchant is an important tool because otherwise they remain uninformed and apathetic.

    As a funder you save on marshal costs and you resolve all of the judgment balance and not just what the restraints yields. You are charged less than those that do much less, and seeing conversion rates at a level that is honestly unmatched.

    COJ's may go extinct someday but for now they are very much alive. If given the opportunity, you'd see an immediate increase in your recoveries.

    For those that have interest in receiving an introduction to counsel in order to understand how he works and to hear what he has been able to accomplish with my involvement, please feel free to message me. I'd be happy to send the intro and set up a call.

  2. #2

Similar Threads

  1. Recovering Defaults
    By Collection Specialist in forum Promotions
    Replies: 3
    Last Post: 03-07-2017, 04:40 AM
  2. Replies: 0
    Last Post: 02-14-2017, 03:08 PM
  3. Our SEO Process create the worlds best MCA Laeds
    By Brian Lawrence in forum Promotions
    Replies: 0
    Last Post: 02-01-2017, 11:34 AM
  4. OnDeck JPMorgan Chase Deal Validates Worlds Can Co-Exist
    By isaacdstern in forum Merchant Cash Advance
    Replies: 9
    Last Post: 12-02-2015, 01:04 PM
  5. Memo to Direct Lenders-Recovering Your Bad Debt
    By Collection Specialist in forum Promotions
    Replies: 0
    Last Post: 08-18-2015, 06:03 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •