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INVESTIGATION & SKIP TRACING
Obviously supplying the exact location of your collateral is very
helpful, saving time and reducing your expenses. However, if the
location is unknown, LAB Marine can help. We have several cost effective
investigative services to help find your vessel. These options include
in-house investigation and field agent services. Our in-house investigators,
also known as skip tracers, utilize modern technology and years
of experience to develop the latest leads to locate your collateral.
Our field agents, when instructed, perform an extensive field investigation,
including contact at all provided addresses. In every case a recovery
specialist will be assigned to your account to discuss and analyze
with you all options.
RECOVERY
Once located, our licensed captains and repossession agents quickly
respond to safely recover and secure your collateral. Our recovery
captains are capable of handling any size vessel, both commercial
and recreational, and experienced to handle all situations. Our
towboats, trailers and specialty equipment are always readily available
should they be necessary. Recovery captains are used on all vessels
in excess of thirty-five feet and bring with them an average of
20 years marine recovery experience.
STORAGE & MAINTENANCE
LAB Marine's offices and storage facility is located within a full
service marina in Baltimore, MD. Here we can accommodate vessels
up to 75 feet in length and are within minutes of port facilities
capable of docking vessels of any size. The security and safety
of your vessels are always our main priority, which is why our marina
is surrounded by a six-foot high, barbed wire fencing and twenty-four
hour security. Our dry-storage yard is situated within the marina
and has a separate set of gates to which only authorized LAB Marine
personnel has access. In-water storage is monitored daily by our
personnel to verify proper line configuration, bilge operation and
cleanliness.
A safety check
and maintenance evaluation is performed by our certified mechanics
on each vessel as it arrives to our marina. In addition to our condition
report, we will provide a repair order with estimate should we suggest
any repairs. We only ever suggest spending money on repairs if the
end result will produce a net gain of proceeds for our client. All
work will only be performed with prior authorization, except in
the case of an emergency.
BROKERAGE
Free storage is offered to our clients while our licensed
sales staff is selling their repossessed vessels. Our brokers take
pride in attaining top dollar for our clients and are experienced
with selling commercial and recreational vessels of any size. All
boats offered for brokerage are advertised over the Internet at
Yachtworld,
Boat
Trader Online & on our own web
site. In addition, ads are run in local and national newspapers,
trade magazines and offered for display at many of the national
boat shows. All our marketing efforts, including any outside brokerage
participation, are paid out of our commission at no additional expense
to our clients.
FEDERAL ARREST & CUSTODY
SERVICES
On behalf of our clients, LAB Marine actively performs as substitute
custodian during the arrest of federally documented vessels and
have developed commercial dockage agreements with most major ports
throughout the country. Our established relationship with the U.S.
Marshals Service helps us coordinate efforts with the USMS throughout
an arrest to ensure a smooth and professional experience. All federal
arrests will be video taped upon request. Additional fees will apply
for the inventorying of cargo on commercial vessel and arrests on
unmanned vessels requiring port risk insurance. Please contact Bryan
Braley directly for a schedule of fees or with any questions in
regards to arrest procedures.
CHARGED-OFF PORTFOLIOS
LAB Marine is actively seeking charged-off accounts that no one
can locate. We take pride in resolving what other companies could
not. We offer both a flat rate and percentage of sale fee structure.
Should you choose flat rate, a predetermined amount will be charged
when the collateral is located or a nominal closing fee if we cannot.
With our percentage of sale we charge no closing fee and, should
we locate, nothing for any of our services, including the recovery
and storage of the collateral. We simply charge a percentage of
the selling price once the collateral is liquidated.
We are also
networked with a group of investors interested in purchasing charged-off
portfolios. No portfolio is too small or large for our investors.
Please contact our office directly to further discuss any questions
you may have in regards to portfolio purchasing.
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