When Dedicated first receives new account files, they are entered into Dedicated’s proprietary process in order to quickly recover any associated assets. However, if no progress has been made on these account files within their first 30 days of placement, then Dedicated transfers them to its Legal Services Team for evaluation.
Dedicated’s Legal Services Team first evaluates each account file using its conservative, proprietary scoring model in order to determine whether some type of legal action will assist in bringing a positive resolution to the account file. The Team then uses this same model in order to help build a comprehensive picture of the account file’s litigation risks.
Legal Service Team Balances Potential
Next, the Team balances the potential for bringing a positive resolution to the account file against the account file’s litigation risk, and recommends litigation only for those select account files that have both a high potential for a positive resolution and a low probability of bankruptcy or counterclaims. Finally, if Dedicated’s client agrees with the Team’s assessment, then the Team places the account file within its nationwide, contingency-only network of pre-qualified attorneys.
Dedicated’s Legal Services Team uses a multivariate scoring model
Dedicated’s Legal Services Team performs a comprehensive data scrub and analysis on each referred account in order to evaluate the viability of a lawsuit, and any recommendations for legal enforcement must meet several criteria. The following ten variables are scored in a typical Legal Services Team data scrub:
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Litigious debtor. The Team identifies organizations that tend to aggressively litigate claims. The model scores this attribute based on the facts of the case and all relevant costs.
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Asset research. The Team identifies the organization’s business assets and any pledged personal assets. The model then scores this attribute based upon asset type and size, as well as the likelihood of the responsible party responding favorably to litigation.
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Liability research. The Team identifies the organization’s non-trade liabilities and scores them based upon their potential ability to influence or hinder legal efforts.
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Current retail trade-credit profile. The Team establishes a retail trade-credit profile and scores it in order to assess the trade’s potential ability to influence or hinder legal efforts.
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Bankruptcy assessment. The Team investigates relevant bankruptcy histories and scores them in order to assess their potential ability to influence or hinder legal efforts.
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Legal Service Team Researches cases
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Business viability. The Team researches the viability of the business itself and scores it in order to assess the likelihood of the responsible party responding favorably to litigation.
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Venue. The Team investigates and scores the county, district, and court where legal proceedings would occur based upon both tendencies to favor either plaintiffs or defendants and associated costs.
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Uniform Commercial Code (UCC) and Security Agreement. The Team researches and assesses whether the account file contains all necessary and appropriate collateral documents and scores the account file based on the likelihood that existing documentation would present a barrier to effective litigation.
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Judgments and tax liens. The Team researches public records for existing judgments and tax liens and scores them in order to assess their potential ability to influence or hinder legal efforts.
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Criminal activity. Finally, the Team researches and scores any criminal activities surrounding the account in order to assess their potential ability to influence or hinder civil legal efforts.
A passing score sets the stage for legal enforcement
If an account file receives a passing score from Dedicated’s Legal Services Team’s conservative, proprietary scoring model, then the Team will construct a report summary with an estimate of potential costs and returns, and typically recommend litigation as the next step in the recovery process. Dedicated’s client may then choose to either follow or reject the Team’s recommendation. However, if an account file receives a failing score from the Team’s conservative, proprietary scoring model, then the Team will typically track the file for a potential future sale to Dedicated’s established network of business debt buyers.
Dedicated is there for you every step of the way
Sometimes just the potential for a legal proceeding can bring about a swift resolution. In other cases, the process of obtaining a judgment and proceeding with post judgment remedies will be required. Should obtaining a judgment and proceeding with post judgment remedies prove necessary, Dedicated’s Legal Services Team monitors each case all the way from the initial drafting of the demand, summons, and complaint to the enforcement of the judgment through levies, depositions, judgment debtor exams, interrogatories, and other mechanisms.
Reporting tailored to your needs
Dedicated’s Legal Services Team tailors its client reporting to the complexity and size of a given legal file, so that smaller and less complex legal files will typically receive individual transaction communications, while larger and more complex legal files will typically receive monthly status reports. This process simplifies communications, and allows Dedicated to tailors it’s reporting to best suit its clients’ needs.
Dedicated can help you today
Dedicated’s Legal Services Team, using its thoughtful and complete approach, can help you maximize results from your difficult account files while minimizing any associated risks. Dedicated’s Legal Services Team Members treats all parties with integrity and respect, and they would love to explain their process to you in greater detail should you have any questions or current needs. Remember: Dedicated stands ready to help you today.