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Small Business Collections: CT Corporation
by Gene Allen
Published on this site: July 3rd, 2006 - See more
articles from this month
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 heriff'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 http://www.ctcorporation.com
WSB: Hot dog! The look on my debtor's face when the first garnishment
is taken out of his paycheck-priceless!
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. http://www.digenrecovery.com
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