[TheUnderwritingProdigy]

Now that COJ's are going to be a thing of the past, what Collections Agencies have you guys seen the best results from on defaulted merchants?

I've submitted a few dozen files to AMA Recovery, and Kearns, Brinen, and Monaghan (KBM) but never had a single cent come back from either.

I was thinking about maybe giving MCA Recovery a shot since I see them debiting sometimes... not sure though.

Who are your go-to's?

[Collection Specialist]

Collection agencies, as you have already experienced, are a bust. This is due to the fact that while they are owned by intelligent people, those who call to collect the debt are almost always young, un-edified, and un-caring employees who haven't the slightest clue about the MCA industry and are mostly there for a paycheck.

What is needed is someone who focus' on the MCA industry entirely and who has proven himself time and again that with or without the COJ, he can get the job done. Coincidentally, I am such an individual with a long track record or out-performing any agency and even lawyers who had the power of the COJ. My set up is unique and I'd be happy to share with you if you'd have an interest.

Feel free to reach out to me if you'd like to chat.

Mitch-877-669-7943

[abfunders]

Mitch, you have to please start posting some case studies! Today is your day to shine!

[soscap]

Now that COJ's are going to be a thing of the past, what Collections Agencies have you guys seen the best results from on defaulted merchants?

I've submitted a few dozen files to AMA Recovery, and Kearns, Brinen, and Monaghan (KBM) but never had a single cent come back from either.

I was thinking about maybe giving MCA Recovery a shot since I see them debiting sometimes... not sure though.

Who are your go-to's?

Berkovitch & Bouskila is by far the best law firm in the MCA space.

[Collection Specialist]

Mitch, you have to please start posting some case studies! Today is your day to shine!

Agreed. It's simple math. Collection agencies convert from between 4-5 percent of dollars assigned and this was with the COJ. Attorney's with the COJ at around an 8 percent conversion. I have consistently delivered a conversion rate of between 18-27 percent which is mainly dependent on whether it was a 1st position or 5th position. Even in the lowest bracket of conversion, I out-performed anyone in this space. How do I prove this though?

The great thing about being well recognized and respected within the industry is the willingness of those I work for to offer great references. I could "sell" myself as much as I want, but so could anyone. What I have are a myriad of references from very well known funders who use me and have used me for years, and who would all attest to my skills and process being the best they have used... bar none.

I am the real deal and those who use my services can "sell" my benefit a lot better than I can. I can profess my greatness all day long but when it comes from a 3rd party, and several of them, that alone is the best case study I could offer. Give me a call to discuss if you'd like.

[Kevin Henry-Seacoast]

If a company stacked advances 2-5 deep on top of a bank line, factor, ABL facility, or any other senior lender that has filed a UCC, chances are when things go sideways you will not collect much as the lender in first position will certainly drop a hammer and collect out first. Any sub-debt, accounts payable, advances, convertible debt, equity, etc... become unsecured debt behind the senior lender.

[Collection Specialist]

Berkovitch & Bouskila is by far the best law firm in the MCA space.

I agree that they were good but after yesterday, it's like saying that AT&T makes the best rotary phone.

[soscap]

I agree that they were good but after yesterday, it's like saying that AT&T makes the best rotary phone.

Your statement assumes that all they do is file COJs. I have used them to file summons and complaints, ucc enforcement, and their traditional collections department. As oppose to having to use multiple companies to collect on a file they are a one stop shop for all my collections deals whether or not I had a COJ.

[jenk12]

My firm operates in multiple states with a focus on mca recovery. COJ’s were a great shortcut to judgment but funders certainly have recourse by way of a standard lawsuit. A combination of lawsuits and aggressive soft collections will still get the job done.

PM me if interested.

[Davincinc]

Now that COJ's are going to be a thing of the past, what Collections Agencies have you guys seen the best results from on defaulted merchants?

I've submitted a few dozen files to AMA Recovery, and Kearns, Brinen, and Monaghan (KBM) but never had a single cent come back from either.

I was thinking about maybe giving MCA Recovery a shot since I see them debiting sometimes... not sure though.

Who are your go-to's?

qualified merchants that dont stop payments.

[Collection Specialist]

Your statement assumes that all they do is file COJs. I have used them to file summons and complaints, ucc enforcement, and their traditional collections department. As oppose to having to use multiple companies to collect on a file they are a one stop shop for all my collections deals whether or not I had a COJ.

I know this but unlike a COJ there is now a waiting game while all of the above is filed, and awaiting entry. This why collections is back in the forefront as opposed to legal.

[soscap]

I know this but unlike a COJ there is now a waiting game while all of the above is filed, and awaiting entry. This why collections is back in the forefront as opposed to legal.

They have 25+ people on their collections side.

[Collection Specialist]

They have 25+ people on their collections side.

We're agreeing with one another, I'm simply stating that their "collections" skill sets are not equal to their legal ability. In the end, time will tell.

[generosen]

My firm handles MCA collections, mainly through litigation. We have obtained many favorable reported decisions for our clients in addition to recovering lots of money for them. We also handle bankruptcy matters and won a big case for the industry in bankruptcy court in Chicago last year.