OverviewThe Stevens-Lloyd Group was retained by GM Air, a commercial aviation company which specializes in supplying the military, located in Miami, Florida. They were owed $146,588.32 from Air Philippines, located in Manilla. GM Air provided aviation parts for this company however they were not paid for their product.
BackgroundThe situation and complication faced by GM Air was that despite many attempts to recover the money, Air Philippines continued to break promises and ignore our client’s demands for payment. Hence, GM Air asked The Stevens-Lloyd Group to assist them in recovering the debt in the amount of $146,588.32.
SolutionThe Stevens-Lloyd Group went to work immediately and started an asset and liability investigation on AIR PHILIPPINES. We deployed consistent collection pressure against the debtor company however they continued to stall and avoid the issue. It was time we utilized our network of expert debt collection attorneys. GM Air granted permission to The Stevens-Lloyd Group to work with our law firm of Rosenfeld, Stein & Batta in Miami. Through extensive investigation, we determined that Air Philippines owned an aircraft outright on the ground in Los Angeles, CA. The Stevens-Lloyd Group and our Miami law firm retained the firm of Martin Goldman, based out of southern California. Mr. Goldman grabbed the plane by placing a lien against Air Philippines’ aircraft, effectively rendering the plane immobilized on the ground at LAX. Thus, Air Philippines had no choice but to pay our attorneys $146,588.32 to free the aircraft. The windup is that The Stevens-Lloyd Group, through deploying advanced debt collection practices as well as our experience in the aviation industry, recovered the entire amount owed to Gm Air of $146,588.32. Our team’s successful outcome was accomplished within four months of intense collection activity.
The key to our success was perseverance and know-how from our collectors and attorneys in Florida and California. As a result, the Stevens-Lloyd Group was able to effect payment in full for GM Air on an account which would’ve been written off by our client or a less effective commercial debt recovery firm.
RecommendationHire the Stevens-Lloyd Group in connection to international debt recovery for files over 90 days past due. This will help ensure that outstanding amounts are paid before it is too late. As debts age, they become considerably less collectible. Therefore, it is our recommendation that because time is the enemy of the debt recovery process, our clients place past due debts with The Stevens-Lloyd Group as soon as debtor companies ignore demands for payment and/or break their promises.