Small Business Collections: CT Corporation

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Small Business Collections: CT Corporation

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Walter Small Business: Hey skip, did you ever try to collect from a debtor in court and then found out that he moved to another state just as you got your judgment? Gene Skiptrace: Sure, things like that happen all the time.

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382 Words; formatted to 65 Characters per Line Distribution Date and Time: 2006-06-21 10:36:00

Written By: Gene Allen Copyright: 2006 Contact Email: digen@cnsp.com

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Small Business Collections: CT Corporation Copyright © 2006 Gene Allen Digen Recovery www.digenrecovery.com

Walter Small Business: Hey skip, did you ever try to collect from a debtor in court and then found out that he moved to another state just as you got your judgment?

Gene Skiptrace: Sure, things like that happen all the time. You try not to take it personal and you move on.

WSB: It seems a shame. This guy was a manager at Home Depot. I know he was making good money, but rather than pay me the seventeen hundred dollars that he owed me, he transferred to Michigan.

GS: Is he still working for Home Depot?

WSB: Yes, I called up and asked for him and the assistant manager told me that he had transferred a week ago.

GS: You can still get paid on this one. And you don't have to do anything complicated like domesticating a judgment in a sister state.

WSB: How?

GS: CT Corporation.

WSB: What does that mean?

GS: When a company, let's say your company Reliable Office Supplies, wants to expand to another state, like let's say Nebraska. Nebraska considers you a foreign corporation because your home base is here in Ohio. So you have to register with the secretary of state in Nebraska as a foreign corporation and you have to have a registered agent living in Nebraska. This is where CT Corporation comes in. For a fee, they will be your registered agent in Nebraska. CT Corporation represents over two hundred and fifty thousand business nationwide. Now this is the good part. CT Corporation is a registered agent for Home Depot. You can prepare you garnishment paperwork and have the Sheriff's Department serve the papers on CT Corporation. CT Corporation will express mail that paperwork to Home Depot's Corporate headquarters in Atlanta, Georgia. The garnishment department will garnish the wages of your judgment debtor in Michigan even though you're still in Ohio. This principal works with any company like Home Depot that has a chain of stores in other states. Your judgment debtor could move to thirty locations in thirty different states but the garnishment will continue against him as long as he's an employee with Home Depot. CT Corporation's website is www.ctcorporation.com

WSB: Hot dog! The look on my debtor's face when the first garnishment is taken out of his paycheck----priceless!

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Gene Allen is a collection specialist with 11 years of experience in the industry. His new ebook "Powerful Secrets of Bounty Hunters & Lawmen for Tracking Deadbeat Cash...Guaranteed" gives practical tips on asset location. www.digenrecovery.com