About Us
Storey Mountain is a premier purchaser of distressed debt. With over $100 million in distressed debt purchased in the last year, Storey Mountain is a trusted ally of various banks and institutional lenders throughout the United States. Unlike many debt purchasers in the industry, Storey Mountain is proud to be managed by a group of experienced attorneys who practice exclusively in this area of the law. Our attorneys have extensive backgrounds in the acquisition, compliance, and collections aspects of recovering charged off debt. It is this experience that gives Storey Mountain an unrivaled advantage over other debt purchasers.
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Our trusted bank and institutional partners enjoy the peace of mind that Storey Mountain’s principals are practicing attorneys who understand the nuances of post-chargeoff recovery. These competitive efficiencies allow us to pay top dollar for charged off debt, resulting in superior recoveries for the banks and lenders we work with.
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Storey Mountain specializes in the purchase of unsecured debts and judgments. Unlike many debt buyers, who are solely interested in acquiring secured obligations backed by prime real estate, Storey Mountain does it all. Whether your debt is secured, unsecured, deficiency judgments, or anything in between, Storey Mountain will buy it.
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As most lenders are fully aware, the legal fees and costs associated with traditional collection of bad debt is not always economical. Between monitoring and reporting requirements, paying monthly bills from a law firm for fees and court costs, and the erosion of net present value as years go by of a debt going uncollected, often the ‘juice isn’t worth the squeeze.’ Many lenders have lamented to us that the expenses associated with collection of judgments and bad debt often out paces the recovery. For those lenders partnering with Storey Mountain, such is not the case. The benefits to our partners are threefold – (a) immediate cash infusion on previously written off debt; (b) elimination of costly legal fees and court costs associated with collections; and (c) elimination of burdensome monitoring and reporting requirements. One assignment of your bad debt to Storey Mountain takes care of these problems.
The Storey Mountain Method
Once a creditor charges off a particular debt, the assignment process to Storey Mountain is seamless. Whether one particular debt is being assigned, or a large portfolio, Storey Mountain’s team makes the assignment and acquisition process as simple and efficient as possible. Immediate funding to our bank and lender partners ensures that bottom line recoveries are enjoyed. No waiting around for ‘potential’ collections. Guaranteed, immediate and top dollar payment, done by professionals. That is our guarantee.
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Once a debt has been assigned to Storey Mountain, our network of attorneys throughout the country ensures that the debt recovery process is done professionally and in accordance with all applicable laws. Storey Mountain’s specialty in forensic analysis of debtors is what allows us to pay top dollar for bad debt. These efficiencies and expertise are passed on to our creditor partners. No call centers or robo-letters at Storey Mountain. Every file is examined at a granular level and individually reviewed by an experienced attorney. Whether it is a problematic bankruptcy, probate, foreclosure, or post-judgment nuance, we at Storey Mountain have seen it all.
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Let out experience work for you. Contact us today for a quick evaluation of what your charged off debt may be worth.