Jeff Saich's Contact Details

Jeff Saich's Company Details

Financial Resolutions of America Corporation ("FRAC")

Lakeport, California, United States • 3 Employees
Financial Services

Financial Resolutions of America Corporation ("FRAC") is a development stage company that will engage in the judgment recovery business from its 2 offices located in California. FRAC purchases portfolios of court-awarded civil judgments for pennies on the dollar and will enforce those same court-awarded money judgments at face value through our team of highly experienced managers utilizing FRAC's automated proprietary servicing platform that was developed by FRAC's management. Industry and MarketAccording to the Internet website www.judgmentcenter.com, 79% of court-awarded money judgments in the United States, amounting to approximately $200 billion dollars annually, remain unpaid. Businesses nationwide placed $150 billion worth of debt with collection agencies (in 2010). Agencies were able to collect about $40 billion of that total. The industry averages about 20 percent recovery on delinquent debt. Judgment recovery is a $237 billion dollar industry segment.Strategic Business PlanOur strategy is to take advantage of the opportunity in the judgment enforcement industry by implementing our business model developed in conjunction with our Automated Proprietary Servicing Platform to achieve larger economies of scale. Instead of working on a contingency basis, where we share the collected judgment proceeds with the original judgment creditor, we believe we can increase our revenues and cash flow by purchasing judgment portfolios and selectively identifying and pursuing those debtors who can pay by using our Automated Proprietary Servicing Platform. Our automated proprietary solution quickly and efficiently locates where judgment debtors bank, work and own property. We then leverage the power of the legal system to garnish, lien and levy those assets to satisfy the judgments. We believe that given the inventory of unsatisfied judgments, economies of scale and the margins in enforcing judgments in volume and with our business model we can be profitable.