Silverman Theologou’s goal is to provide quality cost-effective collection, bankruptcy and real estate foreclosure related services to our credit union clients. We understand how important their members are to our clients, and we promise to deliver an extremely high level of service while allowing your credit union members to feel comfortable in dealing with our firm. When a credit union retains our firm, a team of attorneys, paralegals, and collection professionals is assigned to manage the entire process from file opening to post judgment proceedings whether the account concerns collection, bankruptcy or real estate foreclosure. We pride ourselves on being well versed on, and having an intimate knowledge of, the credit union industry and credit union practices, and as a member of The National Creditors Bar Association (NCBA), we are committed to fairness in the collection, bankruptcy and real estate foreclosure process and adhere to the NCBA Code of Professional Conduct and Ethics.
Silverman Theologou, LLP’s attorneys, paralegals and other professionals are dedicated to helping our credit union client’s maintain customer accounts, collect past due accounts and recapture bad debt. Silverman Theologou, LLP, with over 30 years of consumer and commercial collection experience, collects client accounts more efficiently, and for a lower fee, than most collection agencies or other law firms. Although it is never our intention to chase away our clients’ customers, Silverman Theologou, LLP’s proactive approach has produced an excellent rate of return. Our proactive approach to dealing with client collection accounts, superior rate of return and reduced fee structure provides our clients with exceptional results and value.
Silverman Theologou, LLP has over 20 years of extensive experience representing investors and lenders throughout the State of Maryland, the Commonwealth of Virginia and the District of Columbia in handling all issues associated with the recovery of real property assets through the foreclosure process, including foreclosure, loss mitigation, mediation, deeds-in-lieu, surplus claims and creditor’s rights litigation. We also handle post foreclosure evictions, collection of deficiencies and REO out sales. Our investor and lender representation includes loan workouts, loan modifications, and title insurance claims. Silverman Theologou works diligently to ensure the maximum recovery on each transaction, while providing individual attention to all accounts with direct attorney access and designated points of contact so all our client’s needs and inquiries are dealt with quickly and efficiently.
Silverman Theologou, LLP represents both secured creditors and unsecured creditors in all aspects of Bankruptcy under Chapters 7, 11 and 13, including motions for relief from the automatic stay, cash collateral agreements, asset sales under § 363 of the Bankruptcy Code, preference litigation, discharge litigation and plan confirmation litigation. Silverman Theologou, LLP also has experience in workouts, non-bankruptcy liquidations, placing businesses into receiverships, obtaining injunctions to prevent the wasting of assets, seizing assets both before and after obtaining judgment, obtaining and defending confessed judgments and litigating the rights of note holders, makers and guarantors.
Not all firms are created equal, and to that end, here’s what we believe sets us apart from other firms providing similarly related services:
In addition to our monthly status report, and same day / next day response to all inquiries, Silverman Theologou clients also receive access to the Web Remote Viewing (WRV) feature of our CollectMax™ database which provides secure web access to “real time” status of all accounts placed with our firm. Using a standard web browser, claims can be viewed using almost any Internet connection. To maintain the safety of debtor and client information, debtor claim data is transmitted, retrieved and stored in encrypted form. All points of access to the WRV require login codes and passwords to gain entry. While viewing debtor claims, remote viewers may send e-mails to our firm on a per account basis to make inquiries or update existing account information.
Whether your credit union uses Symitar, FiTech or other similarly situated databases, software or applications, our highly skilled IT Professionals, in coordination with your in-house IT professionals, can coordinate to allow for our secure access to your collection accounts whereby we can provide you with real-time information relating to our collection activity. As well, whether through our secure web portal or by spreadsheet, email, facsimile or hard copy, our firm is ready to work with you and your IT professionals to facilitate the fastest, and most secure and efficient manner to transmit and open new collection accounts in our CollectMax™ collection software.
Silverman Theologou offers a wide variety of fees for service based on client needs and requirements. Our fees include contingency fees for high volume collection clients, hourly fees starting at $180.00 per hour, and monthly flat fees for collection starting at $2500.00 per month. Although many of our clients have traditionally used either contingent or hourly fees, they quickly find that our monthly flat fee allows for both easier annually budgeting and provides a significant cost saving (as our flat fees typically average 20% of the total amount collected by our firm). For those clients interested in our bankruptcy and real estate foreclosure services, our fee for those services is based on the Fannie Mae / Freddie Mac fee schedule, although our bankruptcy and real estate fees are set well below the currently scheduled Fannie Mae / Freddie Mac rates. Whatever your need, we are ready to meet with you and discuss the fee structure best suited for your credit union.
For additional information about our services or fee schedules, please contact Silvia Cruz or Morgan Stern at (301) 468-4990.