DUE DILIGENCE

Look Before you Leap

Before doing business with anyone, it is important to perform due diligence. This becomes increasingly important as the size and the supposed benefit of the transaction increases.

Consider the People

  • What is their reputation?
    What they have done to others is what they will do to you.
  • Have they been consistently failures?
    Make sure to verify the successes they claim.

contrived examples

Admiral Asset Group

What does a search of the company name give you?
A simple Google search might show the following.
Company Name: ADMIRAL ASSET GROUP INC
Status: Not In Good Standing
Principal Address: 1153 Frosthollow Rd C/o Irwin Berman
Carbondale, PA 18407
Bizapedia

Irwin Berman

Pretend that someone's name is "Irwin Berman" aka "Irv Berman". A simple Google search might show the following.
  • ". . . $ 500,000 order of restitution . . ."
  • ". . . the convictions and Berman's sentence are affirmed, but Gussen's sentence is vacated and his sentencing proceeding remanded.""
Project Posner

Dale Shepherd

Pretend that someone's name is "Dale Shepherd". A simple Google search would show the following.
Google
  • First Federal Savings Bank vs. Dale Shepherd Sr., Fisher Avenue, Warsaw, and Associates Financial Services, Goshen. Plaintiff seeks $62,869.22 due on promissory note, plus interest, costs incurred, court costs, attorney fees and foreclosure of mortgage as prior to other liens, with sale of real estate to satisfy judgment.
    Times-Union Court News 03-02-1999

Bob Carrigan

Pretend that someone's name is "Bob Carrigan". A simple Google search would show the following.
Google
  • DATE OF DOCKET TAXPAYER NAME / CITY JUDGMENT NUMBER C.O.D. AMOUNT ----------------------------------- ---------- -------------- -------------- *************************** INDIVIDUAL *************************** CARRIGAN, ROBERT 06/12/1995 137,750-95 4,654.42 HADDONFIELD NJ 07/16/1998 184,047-98 2,013.24 02/25/1999 57,617-99 10,073.06 10/31/2002 257,571-02 2,106.67 Top 100 Aged Individual Debtors - Page 59 of 62

Consider the Transaction

  • If it is too good to be true, it probably is.

Only Fools Rush In

A simple call to a collections attorney may answer many of your questions. There is a well-respected one in Scranton, PA.