Morgan, Cohen & Bach has built a specialized recovery procedure, which involves Investigators, Mediators, and Attorneys working together to ensure our clients the best possible results. We do not believe in a "One-Way Fits All" approach, and conduct comprehensive financial investigations on every claim so we can mold to each account's specific needs.
Asset and Liability Investigation
The “sue first, ask questions later” philosophy is a poor business strategy by anyone's account, and why our comprehensive financial investigation is one of the most critical steps of our process. We use the latest advances in investigative technology & research in tandem with private investigators to identify any assets, including attachable assets, along with any serious financial distress the companies or their principals may be encumbered with. Our investigations are conducted until each case is brought to conclusion.
Financial Analysis
Information can only take you so far. The ability to interpret “in between the lines,” and derive new information “behind the scenes,” can make all the difference in often time-sensitive situations. It is this additional insight into the company’s overall financial position that determines how negotiations should be approached during mediation.
Informed Decision Making
This investigation serves another crucial role if the customer is uncooperative or unwilling to engage constructively during mediation. It provides clarity whether or not our clients should litigate. Knowing the likelihood a judgment can be enforced before any suit is initiated limits further loss and provides the best chance of recovery.
Lawyers alone are costly and usually get paid regardless of winning a case or enforcing a judgment. Our desire to afford our clients the ability to make decisions from an informed position, separates us from parties that may have more self-serving interests at heart.
Lawyers alone are costly and usually get paid regardless of winning a case or enforcing a judgment. Our desire to afford our clients the ability to make decisions from an informed position, separates us from parties that may have more self-serving interests at heart.
Mediation
Our mediation is designed to be the most effective tool in our process. Built to combine the information gained from our investigations with expert legal analysts - trained to develop and evaluate the financial picture, which alone can uncover the root intention of a customer. These negotiators use this understanding in addressing the claim with each party, to determine swiftly and proficiently, a solution that best serves the interests of our client. Our mediators wealth of training and experience, in analyzing and dealing with these situation, is the reason why it has proven to be the most effective means to resolve delinquencies.
Litigation
This stage is for the companies unwilling to resolve the balance voluntarily and we have identified assets that can be pursued to liquidate the unpaid claim. We assign each case to an attorney, local to your customers, with the ability to enforce payment of a judgment once obtained. We only allow first-rate attorneys in our network, meaning each attorney has a proven track record of winning cases in the venue where they practice. Having our alliance behind you ensures that you have the best chance of securing a judgment and ultimately payment in the least amount of time. You can see the introduction to the legal proceeding process here.
Parties claiming to be “Out Of Business”.
In addition, we understand the frustrations involved with companies claiming to be “out of business” to avoid paying you. If it appears these parties have made these claims with intent of hiding the fact that they continue to operate, just under another name, in these situations our Phase 3 investigation can confirm if an alter ego or successor liability operation exists. Once we have information supporting this, we will pursue the new corporation and underlying owners responsible.
These are a few examples a judgment can be enforced:
Lien - This is a form of security interest granted over an item of property to secure payment of a debt or performance of some other obligation. Once filed, a lien is reported as matter of public record, generally filed with a city and county records office (for real property), or state agency, such as the Secretary of State (for cars, boats, business personal property, etc.). Additionally, as a matter of public record, a lien is commonly identified by credit reporting agencies, which may require obligee to resolve the liability sooner if additional financing was attempted. Liens on real estate are a common way for our clients to collect what they are owed. Liens on personal property, such as motor vehicles, are less frequently used, but can be an effective way for our clients to collect.
To sell or refinance property, a party must have a “free and clear title”. A lien on their commercial property, personal home, company vehicles, or other property encumbers their title from being “free and clear”. To regain a free and clear title, they must pay off the lien. Thus, securing a lien on property is an effective method of collecting what you are owed.
Property Levy - With judgment, a judge may grant a writ of execution allowing seizure of certain property owned by a party. Depending on the party obligated to the liability in question, this may come in the form of personal assets.
Bank Levy - If enforceable, this scenario allows a company's bank accounts to be frozen until a judgment is satisfied or negotiate settlement of an unpaid debt.
Wage Garnishment - If we find officers or employees are personally liable through our investigation, this allows us to intercept their personal wages (up to the state maximum percentage).
Till Tap - A till tap consists of the direct seizure of money from the cash register of a particular business by the U.S. Marshal or sheriff's office pursuant to a writ of execution. The propriety of executing a till tap depends on applicable state law.
Any litigation will be handled with least amount of administrative costs possible. In every case, we will instruct the attorney to seek recovery of any court costs and attorney’s fees.
Parties claiming to be “Out Of Business”.
In addition, we understand the frustrations involved with companies claiming to be “out of business” to avoid paying you. If it appears these parties have made these claims with intent of hiding the fact that they continue to operate, just under another name, in these situations our Phase 3 investigation can confirm if an alter ego or successor liability operation exists. Once we have information supporting this, we will pursue the new corporation and underlying owners responsible.
These are a few examples a judgment can be enforced:
Lien - This is a form of security interest granted over an item of property to secure payment of a debt or performance of some other obligation. Once filed, a lien is reported as matter of public record, generally filed with a city and county records office (for real property), or state agency, such as the Secretary of State (for cars, boats, business personal property, etc.). Additionally, as a matter of public record, a lien is commonly identified by credit reporting agencies, which may require obligee to resolve the liability sooner if additional financing was attempted. Liens on real estate are a common way for our clients to collect what they are owed. Liens on personal property, such as motor vehicles, are less frequently used, but can be an effective way for our clients to collect.
To sell or refinance property, a party must have a “free and clear title”. A lien on their commercial property, personal home, company vehicles, or other property encumbers their title from being “free and clear”. To regain a free and clear title, they must pay off the lien. Thus, securing a lien on property is an effective method of collecting what you are owed.
Property Levy - With judgment, a judge may grant a writ of execution allowing seizure of certain property owned by a party. Depending on the party obligated to the liability in question, this may come in the form of personal assets.
Bank Levy - If enforceable, this scenario allows a company's bank accounts to be frozen until a judgment is satisfied or negotiate settlement of an unpaid debt.
Wage Garnishment - If we find officers or employees are personally liable through our investigation, this allows us to intercept their personal wages (up to the state maximum percentage).
Till Tap - A till tap consists of the direct seizure of money from the cash register of a particular business by the U.S. Marshal or sheriff's office pursuant to a writ of execution. The propriety of executing a till tap depends on applicable state law.
Any litigation will be handled with least amount of administrative costs possible. In every case, we will instruct the attorney to seek recovery of any court costs and attorney’s fees.
Visit our Legal Proceeding page to learn more!
International Debt Recovery
International Debt Recovery, while different from domestic recovery, is a vanguard service offered by Morgan, Cohen & Bach (“MCB”) geared to meet our client’s ever changing needs. While many concepts may be the same, the tools required to perform aspects worldwide collections are unique. MCB’s international recovery department is trained to use these specialized tools needed to pursue recovery of your money anywhere.
- Access 24/7 to 130 languages via interpreters.
- Worldwide Government relationships.
- Procedures to handle off hour contact with International accounts.
- Existing contacts within US Embassies/Consulates to register complaints.
- Highly Skilled Network of International Attorneys.
- The ability to report companies to the US Department of Commerce and International Trade Commission.
Additional Services
In House Recovery Program
Morgan, Cohen & Bach represents some of the largest companies in the world. For decades we have watched companies create internal in-house policies and procedures. Some good, some bad. We wish to save our clients from making the same mistakes and provide additional techniques they may not already employ.
We offer a full in-house policy that includes:
The unique thing about this service is it provides you sample/examples of language to cover aspects of your agreement, which may not have been accounted for, like the ability to to add collection fee’s and interest to your accounts, or right of venue if account becomes delinquent. It also provides for a guarantee holding the individuals personally responsible for any debt they incur with your company.
We offer a full in-house policy that includes:
- Sample Letters - Each letter is custom drafted to fit the stage of the account.
- Scripts - Educational tools for our client as to what should be said and asked on each phone call to put them in the best position of recovery.
- Time Table of Action - This tells you what action, phone call and letter should be made in each stage.
- Credit Application - Quite often, sales are completed in the “excitement of the moment” and the details surround the terms of doing business get glanced over. Many times these companies do not have the financial stability to support the lines of credit they are extended. Collecting valuable data at the inception of business is data that may protect you at a later point.
The unique thing about this service is it provides you sample/examples of language to cover aspects of your agreement, which may not have been accounted for, like the ability to to add collection fee’s and interest to your accounts, or right of venue if account becomes delinquent. It also provides for a guarantee holding the individuals personally responsible for any debt they incur with your company.
Free Demand Letters.
Do you have a customer that is avoiding you, breaking promises, or disingenuous about their intentions to pay? Is it an account that you think would pay if they just had a little extra incentive to do so? Our free demand letters maybe be your solution. We send a letter to your customer, not just demanding payment, but letting them know that you have globally recognized mediation professionals just days away from pursuing the balance owed to you. We have found companies that are on the “fence” about paying our clients, will suddenly want to resolve the balance within the demanded terms. This letter serves as is a final chance to resolve this before MCB begins recovery action the day after the demand expires if they have not paid you what is owed.
Aging Analysis
We are available to assist in training our clients to understand A/R management from 31 days past due and beyond. This ensures minimal losses and calculated cash flow to keep your business profitable and growing. We also can give you a step by step action plan for each of your aging accounts. This works to produce great results when coupled with our in-house recovery program.
Customer Profile Search
Morgan, Cohen & Bach has dealt with thousands of debtors in many different industries. We have the unique ability to take an existing or potential customer that you may have concerns about and process them through our database to help you determine whether or not the customer is a risk.
Morgan, Cohen & Bach uses a number of data elements to assess a company's short-term probability of default. The core of the assessment is comprised of data points from many categories:
Morgan, Cohen & Bach uses a number of data elements to assess a company's short-term probability of default. The core of the assessment is comprised of data points from many categories:
- Financial Ratings - Based on a company's consolidated financial figures.
- Payment Incident Ratings - Derived from statistical scores.
- Company Identity Data - Including company age, location, line of business, employees, court rulings, etc.
- Financial Lines Adjustments - Taking into account the company's ultimate parent.
- Trend Behavior - Based on the history of a company's delinquencies.
