Amerassist

[Pablo]

http://www.amerassist.com/tmc/Default.aspx

We have a customer who enlisted Amerassist. They are a "turnaround management company" What they do is take all the shippers debt. Tell the carriers that they are managing the payables and to choose from the following options:

1)small monthly payment ($200) that amortizes it over 25 years (owe 30,000)
2) accept 10% of money owed and you will be payed right away
3) accept 25% and you may be paid in 6 months
4)accept 50% and you may be paid in 12-18 months
5) stick with 100% and you take your chances.

This particular customer is in the US and is not under bankruptcy proceedings.

Anyone run up against this before? Have any strategies, etc? I'm stumped.

P.S. - They are the shipper and a forwarder is the consignee so no hope down that road.

 

[loaders]

We had a similar experience about 10 years ago with a "turnaround" management firm assisting one of our customers. It was my belief, that they hoped the majority of the creditors would take the smaller payouts.
At the time, we were owed approx. $5000.00 US, so I opted to wait it out for the entire amount. As it turned out, the customer was in such a bad financial position that even the "turnaround" company couldn't help them. Needless to say, I was out the 5K. Like a lot of these supposedly "helpfull" management companies, they are primarily concerned with getting their money first, which happens only if they get the creditors to roll over and say "uncle". If it has reached the point where one of these firms has been called in, it might be too late. I guess your position now should be; do I bite the bullet and kiss off a good portion of the receivable and move on, or do I roll the dice and bet it all in a game where the odds might be stacked against you? Good luck!

 

[jac transportation]

are you dealing with a load broker or the shipper or receiver? whoever was responsible for the freight bill is still responsible, if it was through a broker go to the client who was responsible according to the bol - they have to pay you. the product ended up somewhere....forwarder or not.