Testimonials

From the President of a Gift Catalog Company in MD

I would like to extend my appreciation to American Finasco for the outstanding results of the service that was provided to my company. I discovered American Finasco through their website during my search for an organization that assisted commercial businesses experiencing financial distress. We assigned 127 creditor claims that totaled $315,643.00.

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Case Studies

A Solution for Every Problem

Challenge

A charter school in Arizona in operation since 1984 suffering from decreased student enrollment, competition, and significant decrease of funds from governmental contributions assigned one lawsuit claim to American Finasco. The claim was for breach of contract for delinquent loan payments for computer equipment in the amount of $217,000.00, and personally guaranteed by the client.

Outcome

Settlement was successfully negotiated for a total cost to our client of 57%. American Finasco also obtained a 42-month payout to the creditor with payments less than the original loan. Client was able to keep all of the computer equipment with minimal attorney fees being charged.

Challenge

An Ohio company that manufactured moldings made a decision to cease operations but did not want to file bankruptcy. The client assigned 48 unsecured vendor claims with a volume in excess of $203,000.00. The client had funds available to settle of 60% of the volume assigned and wanted all claims settled within 90 days.

Outcome

American Finasco was successful in settling 93.6% of the claims within 15 weeks. The total cost to the client for this project was 47% with savings of $75,714.08.

Challenge

A small business in Grand Rapids, Michigan, that replaces damaged glass on automobiles assigned one claim with a high profile yellow page advertising company. This advertising endeavor was not only unsuccessful but the client felt the aggressive yellow pages’ salesman had been deceptive in promises on return of the ad, automatic renewal of the ad, and the appearance of the advertisement.

Outcome

American Finasco was successful in settling this lawsuit claim, with a total cost to our client of 59%. The claim was assigned to an attorney who answered the lawsuit providing the negotiator additional time to settle before a judgment could be filed.

Challenge

An Aluminum Extrusion company in Texas assigned one lawsuit claim of $228,483.46, for delinquent employee staffing fees for its manufacturing plant. The client was in default with his Asset Based Lender and this lawsuit was a major factor in the default.

Outcome

A settlement was negotiated for $95,000. American Finasco not only saved the client $108,483.46 but the Asset Based Lender released the default on his loan. The client gives American Finasco credit for saving him thousands of dollars, preventing a judgment being filed, and stopping the Asset Based Lender’s foreclosure proceedings.

Challenge

A mail order gift catalog company in Maryland imported and sold specialty items mostly from France. Their sales plummeted when many American consumers stopped purchasing French products due to the political events of the Iraqi war and 9-11. This company shut down all operations two weeks after assigning 127 vendor claims in excess of $311,800.

Outcome

American Finasco has negotiated and settled 109 claims to date saving the client a total of $155,278. After all fees and vendor payments have been completed.

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Stephen Wright and Guest Mitch Vicknair, American Finasco - Price of Business