 |
What
geographical areas do you cover? |
| The firm handles claims
throughout the entire State of New York. |
|
| How quickly will my
claim be handled? |
| Initial demand letter
is sent to Debtor within 48 hours of receipt of an account for collection.
Any style may be chosen, or a new one created to address your company's
needs. Within five days thereafter, telephone contact is attempted
for the purpose of making immediate arrangements for payment.
If amicable arrangements cannot be made, immediate
litigation is recommended when there is a known revenue source or an
identifiable asset to attach.
|
| When does litigation
commence? |
| When contact with a
Debtor fails to produce a payment arrangement, suits instituted shortly
thereafter have a high percentage of early recovery. Unless a client
instructs otherwise, suit is instituted on all claims which cannot be
resolved amicably that indicate a likelihood of recovery. |
|
| What is your policy
on settling claims? |
| Claims are not settled
without first obtaining the client's approval, unless the settlement is
within the client's pre-arranged settlement criteria. |
|
| What are your fees? |
| It is proposed that
fees shall be contingent on collection at CLLA rates, plus 5%
non-contingent suit fee, or 20 - 45% of all amounts recovered, plus
disbursements incurred for the institution of suits and the enforcement of
judgments. An initial consultation fee may
be assessed in addition to the above rates.
Fees and disbursements are billed monthly.
In addition, there is an hourly rate of $150 per hour for handling
replevins, bankruptcy proceedings and hearings, appeals and other general
legal work clients may request. |
|
| CLLA RATES: |
20% of the first $300
recovered
18% of the amount between $300 and $2,000
13% of all amounts over $2,000. |
|
| What is your policy
on remittances? |
| Clients receive a
detailed statement of account on a monthly basis. These monthly
statements identify monies paid directly to clients, monies recovered by
the firm, and disbursements incurred. Attached to such
statements will be a net remittance check, representing all monies
collected, less the firm's fee and disbursements. Any balance
due the firm on such statements shall be payable within sixty (60) days. |
|
| Do you issue regular
status reports? |
| Clients are advised of
the status of every open account on a monthly basis. This monthly
computerized status report provides the updated, detailed status whether
or not there was a collection or disbursement incurred on a given account. |
|
