Services for Credit Unions

Silverman Theologou LLP provides quality, cost-effective collection, bankruptcy and real estate foreclosure services to our credit union clients. Because we understand how important members are to our clients, we are committed to delivering an extremely high level of service while fostering professional, comfortable relationships with credit union members.

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 collections, bankruptcy, or real estate foreclosure. We pride ourselves in having an intimate knowledge of the credit union industry and credit union practices. As a member of The National Creditors Bar Association (NCBA), adhere to the NCBA Code of Professional Conduct and Ethics and are committed to fairness in the collection, bankruptcy and real estate foreclosure process.

Consumer and Commercial Collections

Silverman Theologou’s attorneys, paralegals and other professionals are dedicated to helping our credit union clients maintain member accounts, collect past-due accounts, and recapture bad debt. With nearly 40 years of experience in consumer and commercial collections,  Silverman Theologou collects client accounts more efficiently, and for a lower fee, than most collection agencies or other law firms. Silverman Theologou assists credit unions in retaining members through its proactive approach to dealing with client collection accounts. Silverman Theologou’s superior rate of return and reduced-fee structure provides our clients with exceptional results and value.

Real Estate and Foreclosure Referral Service

Because Silverman Theologou strives to provide comprehensive service to our clients, our firm (after obtaining written client approval) refers all real estate and foreclosure accounts forwarded to our former Associate and now Of Counsel attorney, Diana Theologou, Esq. of McMichael Taylor Gray, LLC. As Of Counsel to our firm, and now Managing Attorney of the Mid-Atlantic office of McMichael Taylor Gray, LLC, For over 20 years, Ms. Theologou has represented investors and lenders throughout Maryland, Virginia and the District of Columbia, handling recovery of real property assets through the foreclosure process, including foreclosure, loss mitigation, mediation, deeds-in-lieu, surplus claims and creditor’s rights litigation. She also handles post-foreclosure evictions, collection of deficiencies and REO out sales. Ms. Theologou can be reached by email at and

Bankruptcy – Creditor’s Rights

Silverman Theologou represents both secured creditors and unsecured creditors in all aspects of bankruptcy under Chapters 7, 11 and 13. Services include 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 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.

The Silverman Theologou Difference

Not all firms are created equal. To that end, here’s what we believe sets Silverman Theologou apart from other firms providing similar services:

  • Member-friendly approach to handling collections, bankruptcy, and foreclosure accounts
  • Thorough knowledge of both National Credit Union Administration (NCUA) policies and procedures and federal and state laws relating to collection, bankruptcy, and real estate foreclosure
  • Effective collection procedures and policies that minimize losses and decrease delinquencies
  • Dedicated attorneys, paralegals, and collection professionals assigned to specific accounts so credit unions always know who is handling accounts and what actions are taken on their behalves
  • Skilled attorneys, paralegals, and collection professionals who think “outside the box” to provide the most effective techniques to resolve account issues in a timely manner
  • Personalized service, including accessibility to attorneys regarding legal advice particular to the needs of credit unions
  • From file opening to post-judgement proceedings, Silverman Theologou staff are there for credit union clients every step of the way through the collection process
  • Where other firms leave off, our dedicated post-judgment department discovers judgment debtor assets to enhance the overall collection process
  • Same day/next day response to all credit union telephone or email inquiries to our attorneys, paralegals, and collection professionals
  • Detailed month-end status reports outlining the opening balances, current balances, last actions taken, and complete histories of the accounts
  • Weekly forwarding of all payments received in our offices

Real-Time Account Status Information

In addition to our monthly status report, and same day/next day response to all inquiries, Silverman Theologou’s clients also receive access to the Web Remote Viewing (WRV) feature of our CollectMax™ database. This innovative software provides secure web access to real-time statuses 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.

Secure Electronic Account Information and Referrals

Working with credit unions’ in-house tech staffmembers, Silverman Theologou’s IT professionals can provide secure, real-time information relating to the firm’s collection activities, regardless of the database, software, or application, including Symitar, FiTech of equivalent. In addition, whether through our secure web portal or by spreadsheet, email, facsimile or hard copy, Silverman Theologou is ready to work with you and your IT professionals to facilitate the fastest, most secure method to transmit and open new collection accounts in our CollectMax™ collection software.

Silverman Theologou Fee Structure

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 $200.00, and monthly flat fees for collection starting at $2,500.00. Although many of our clients have traditionally used either contingency or hourly fees, they quickly find that our monthly flat fee allows for both easier annual budgeting and provides a significant cost saving (because our flat fees typically average 20 percent 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.

Need More Information

For additional information about Silverman Theologou’s services or fee schedules, please contact Silvia Cruz at (301) 468-4990.