Recovering Bad Debts for Money Transfer Companies
In many American cities with large immigrant populations, local agents who operate coffee houses, travel agencies and neighborhood bodegas also provide basic banking services to local residents: paycheck cashing, money orders, utility bill payments and international money transfers.
When customers want to send money home to their families, these small businesses engage domestic money transfer services to guarantee the transaction and provide almost immediate delivery of the cash to overseas beneficiaries. As long as the agent at the business where the transaction took place remits full payment to the company that has transmitted the money, business proceeds smoothly. Sometimes, however, the local agent keeps the cash and leaves the money transfer company on the hook for funds that have already been delivered.
Call (617) 367-0606 to consult with an aggressive fraud recovery lawyer
If you are responsible for risk management or fraud recovery for a money transfer service with collections outstanding in Boston or Chicago, contact an experienced asset recovery attorney at Gannett & Associates.
We have found that close investigation of the facts can often lead to full recovery of money transfer losses suffered when a local agent fails to honor its obligations to the financial services company that facilitates the agent's business. We work swiftly to identify real property and other assets held locally by the agent in default and act immediately to recover the payments that your company depends on.
Our goal is to help you recover the full amount of your exposure. If assets sufficient to meet your company's claims are held in the name of affiliated corporations or relatives of your debtor, we can usually act to avoid the transfers that were meant to place the assets beyond your reach.
Some agents can turn over as much as $100,000 in international wire transfers in several weeks. When the agents yield to criminal temptation and dishonor their obligations, your company can immediately sustain a significant loss. Your best response: Take prompt action to recover your losses by enlisting an attorney with local knowledge and the ability to implement aggressive collection strategies.
To learn how our law firm's experience through the recovery of assets from local agents can help money transfer companies throughout the United States, contact a knowledgeable collections lawyer at Gannett & Associates in Boston.
