Optimizing Your Receivables: Using Lessons from Trying Times Presented by Kegler Brown Hill & Ritter June 10, 2009

What is the Deal? Presented by John Brody Kegler, Brown, Hill & Ritter June 10, 2009

Speed Counts Presented by Stephanie P. Union Kegler, Brown, Hill & Ritter June 10, 2009

Steps for Prompt Collection Keep Close Eye on Receivables Easier to Collect when “Younger” Demand Letters From you From an attorney Act on them if no response

Keep Close Eye on Receivables

Easier to Collect when “Younger”

Demand Letters

From you

From an attorney

Act on them if no response

Improving your Position by Agreement and Taking Security Credit Applications Get as much info as you can Security Agreements Think outside of the box in taking security: real property, vehicles, IP, A/R, etc. Forbearance Agreements Agree to a repayment schedule and hold debtors to that plan

Credit Applications

Get as much info as you can

Security Agreements

Think outside of the box in taking security: real property, vehicles, IP, A/R, etc.

Forbearance Agreements

Agree to a repayment schedule and hold debtors to that plan

Collection Via Litigation Small Claims Court $3000 or less Can pursue without counsel Municipal Court $15,000 or less Must have counsel if corporation Common Pleas No limit on monetary recovery Must have counsel if corporation

Small Claims Court

$3000 or less

Can pursue without counsel

Municipal Court

$15,000 or less

Must have counsel if corporation

Common Pleas

No limit on monetary recovery

Must have counsel if corporation

Collection Via Litigation (Cont’d) If no response, obtain a Default Judgment. Still need to collect the judgment Via wage garnishments Via bank account garnishments Via attachment of assets

If no response, obtain a Default Judgment.

Still need to collect the judgment

Via wage garnishments

Via bank account garnishments

Via attachment of assets

Finding Those Assets Presented by Christy Prince Kegler Brown Hill & Ritter June 10, 2009

Finding Those Assets Using online research to find assets Real Estate County Auditors' Association of Ohio Research ownership interest in real property www.caao.org/ Ohio Recorders' Association Research records recorded with the County such as deeds, mortgages www.ohiorecorders.com Public County Land Documents Research records recorded with the county such as deeds, mortgages; several Ohio counties, but a few other states as well www.landaccess.com

Using online research to find assets

Real Estate

County Auditors' Association of Ohio

Research ownership interest in real property

www.caao.org/

Ohio Recorders' Association

Research records recorded with the County such as deeds, mortgages

www.ohiorecorders.com

Public County Land Documents

Research records recorded with the county such as deeds, mortgages; several Ohio counties, but a few other states as well

www.landaccess.com

Finding Those Assets Using online research to find assets, continued Courts United States Courts District, Bankruptcy and Appellate Courts; Public Defender's offices www.uscourts.gov/courtlinks/ Also available through PACER Service Center Requires log-in, password and fees of $.08 per page of records accessed http://pacer.psc.uscourts.gov/ Ohio Judicial Conference Ohio court links www.ohiojudges.org/

Using online research to find assets, continued

Courts

United States Courts

District, Bankruptcy and Appellate Courts; Public Defender's offices

www.uscourts.gov/courtlinks/

Also available through PACER Service Center

Requires log-in, password and fees of $.08 per page of records accessed

http://pacer.psc.uscourts.gov/

Ohio Judicial Conference

Ohio court links

www.ohiojudges.org/

Finding Those Assets Using online research to find assets, continued People/Business Searches: DocuSearch Investigations 300 links to on-line databases: people/business searches; telephone searches; US Government links; postal links; state links; federal agencies; Better Business Bureau, etc. www.docusearch.com/free.html ChoicePoint/AutoTrack XP People and business searches; requires log-in, password and fees http://atxp.choicepoint.com/ Edgar Online SEC Filings; free trial http://freeedgar.com/

Using online research to find assets, continued

People/Business Searches:

DocuSearch Investigations

300 links to on-line databases: people/business searches; telephone searches; US Government links; postal links; state links; federal agencies; Better Business Bureau, etc.

www.docusearch.com/free.html

ChoicePoint/AutoTrack XP

People and business searches; requires log-in, password and fees

http://atxp.choicepoint.com/

Edgar Online

SEC Filings; free trial

http://freeedgar.com/

Finding Those Assets Using online research to find assets, continued People/Business Searches Hoover's On-Line Search company information - a D&B company www.hoovers.com/free/ Dunn & Bradstreet Requires permissive use and fees www.dnb.com/us/ Secretaries of State Business searches and UCC searches www.nass.org/

Using online research to find assets, continued

People/Business Searches

Hoover's On-Line

Search company information - a D&B company

www.hoovers.com/free/

Dunn & Bradstreet

Requires permissive use and fees

www.dnb.com/us/

Secretaries of State

Business searches and UCC searches

www.nass.org/

Finding Those Assets Using online research to find assets, continued Personal Property Ohio Secretary of State UCC filings www.sos.state.oh.us Patents & Trademarks - U.S. Patent and Trademark Office www.uspto.gov

Using online research to find assets, continued

Personal Property

Ohio Secretary of State UCC filings

www.sos.state.oh.us

Patents & Trademarks - U.S. Patent and Trademark Office

www.uspto.gov

Finding Those Assets Using online research to find assets, continued Address/Phone Searches Search addresses and telephone numbers Also reverse searches by address or telephone number www.superpages.com www.theultimates.com General Asset Search Locate and research tools available to government, law enforcement, and commercial customers www.accurint.com See price list in seminar brochure

Using online research to find assets, continued

Address/Phone Searches

Search addresses and telephone numbers

Also reverse searches by address or telephone number

www.superpages.com

www.theultimates.com

General Asset Search

Locate and research tools available to government, law enforcement, and commercial customers

www.accurint.com

See price list in seminar brochure

Discovery of Assets Through the Court Judgment debtor exam to find assets Forces a party or entity against whom you have an unsatisfied judgment to appear in court to answer questions under oath about employment, bank accounts, real property, personal property, and other assets If the person doesn’t appear two times, then a bench warrant is issued for his or her arrest Usually the most comprehensive source of information--like a deposition

Judgment debtor exam to find assets

Forces a party or entity against whom you have an unsatisfied judgment to appear in court to answer questions under oath about employment, bank accounts, real property, personal property, and other assets

If the person doesn’t appear two times, then a bench warrant is issued for his or her arrest

Usually the most comprehensive source of information--like a deposition

Discovery of Assets Through the Court Discovery from Third Persons Banks Co-workers Friends, Neighbors, Relatives Ex-Spouses Garnishment of assets belonging to the debtor Banks (note where the debtor banks) anyone else whom you have reason to believe is holding property that belongs to debtor Wage garnishment - employer

Discovery from Third Persons

Banks

Co-workers

Friends, Neighbors, Relatives

Ex-Spouses

Garnishment of assets belonging to the debtor

Banks (note where the debtor banks)

anyone else whom you have reason to believe is holding property that belongs to debtor

Wage garnishment - employer

Q&A John Brody [email_address] Stephanie Union [email_address] Christy Prince [email_address]

John Brody

[email_address]

Stephanie Union

[email_address]

Christy Prince

[email_address]

Thank You!