Recovery Services

National Liquidators employs a crew of full-time licensed recovery agents in the East coast, West coast and Midwest regions, as well as over thirty on-call captains and crewman assigned to efficiently handle repossession, arrest and transportation efforts throughout the U.S., Mexico and the Caribbean. We are prepared to react quickly whenever our services are needed. We carry repossession liability at $5 million, over fifteen times the coverage required by most states. Initiating a recovery is easy. Simply fill out the Recovery Authorization Form and submit online, or print it out and fax it to 888-611-4626. If you hold the first lien or mortgage, we also request that you forward a copy of the title or mortgage note and security agreement.

In some cases, self-help repossession is not an option, and replevin or federal arrest should be considered. Both of these options require legal counsel and we highly recommend the use of either a collection attorney (for replevin) or a maritime attorney (for federal arrest). National Liquidators has extensive relationships with attorneys across the country and will happily refer one at no cost. If an attorney has already been retained, please provide his name and number and we will obtain all necessary court orders. For more information on federal arrest of documented vessels refer to Commercial Vessel Services.

Once the location of the collateral is verified and all paperwork is in order, National will initiate repossession, replevin or federal court issued arrest. We will provide an estimate of charges, but remember that it is very difficult to predict borrower reaction, vessel condition and other factors on a recovery assignment. If additional charges arise on an assignment, our Recovery Team will be in close contact to review any additional costs.

Our staff is trained to handle every detail properly and legally. National Liquidators takes pride in the thousands of unique cases handled with consistent professionalism. Our client's reputation, as well as our integrity, will be maintained at all costs.

Investigation and Location Services

Once a decision is made to take possession of collateral, several options are available. Often questions remain as to the location of the collateral. Extensive collection remedies have typically been explored prior to the decision to repossess. Supplying the exact location of the collateral is very helpful to our efforts, saves time and in turn, reduces your expenses.

However, if your institution is unable to determine the location of the collateral, National offers cost effective investigation services. Having an investigator research and verify details can be much less costly than dispatching a full service repossession crew involving trucks, trailers, tugs and/or U.S. Coast Guard licensed crewmen. There are many avenues available today, including on-line services, accessible public information, skip tracing, as well as undercover on-site investigation. Once an assignment is received, National's Recovery Manager will evaluate the need for investigation or research and will discuss his analysis with the client to ensure there is no duplication of efforts.

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Marina Service Storage & Insurance

National Liquidators' dry and in water facilities are located within full service marinas. We can accommodate vessels to over 100 feet and have a network of port facilities capable of docking vessels of virtually any size. National maintains gated facilities and after-hours manned security at each marina location.

Our full time staff includes a Service Manager and qualified mechanics to ensure that each vessel is maintained and repaired efficiently. A condition report, repair and service estimates, as well as a complete set of pictures, will be forwarded when the vessel arrives at one of our facilities. Our staff will be happy to discuss possible repairs and improvements that may add value to you asset and make it more marketable. All work performed requires your approval prior to completion, except in the case of an emergency.

Various storage options are available, including covered in-water dockage, non-covered water dockage, inside racks, outside racks and outside block or trailer storage.

Our Fort Lauderdale Facility

We will store vessels under arrest or in litigation, and position boats that are being marketed through our sales department accordingly. National’s dock personnel check each vessel daily to verify proper line configuration, bilge operation, and cleanliness. We can accommodate wide beamed, high masted vessels and boats with towers or non-conforming hulls. Please call to discuss options and pricing.

Hull insurance coverage is included as part of National’s full service program. Vessels with a value of over $500,000.00, or that are being transported over a long distance could carry a premium surcharge. We will be happy to forward an insurance certificate naming appropriate party if required, and usually can place insurance within one day. If you require further details regarding our operator’s policy or need additional details regarding our insurance coverage, please contact our offices.

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Salvage Services

If collateral is in peril and emergency salvage services are required, please contact our Operations Manager (800) 633-7172 extension 30 or our Recovery Manager at extension 28. Both are available 24 hours a day 7 days a week. During "non-business" hours, leave a message and the voicemail will forward to their cellular phones. Calls will be returned within fifteen minutes. Salvage services and their respective fees can vary substantially based on the size and complexity of the operation, and will be determined on a case by case basis.

National Liquidators' years of experience and knowledge of the industry ensure that all salvage efforts will be handled with efficiency and integrity. Any individual assigned to your case, whether from our staff or an outside contractor, has been thoroughly scrutinized and investigated to meet our high standards.

Portfolio Management

Since its inception, National Liquidators has provided the most professional services available to marine lenders throughout the world. In our continuing effort to assist our client base, we operate as an "in house servicer" to assist marine lenders in solving loan problems before they become repossessions. On past recovery assignments, we have found that there were many preventative measures which, if taken, could have improved or better protected the creditor's position. Our personnel have accrued over 50 years of banking, loan servicing, collection and recovery experience, and over ten years of FDIC/RTC contracting experience.

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Staff Training Seminars

A full range of seminars on all aspects of marine lending, operations issues, collections and recovery are available. Many institutions handle vessel recoveries through their real estate or automobile repossession specialists. National's collection and recovery seminars can enhance your ability to make faster and more cost-effective decisions, thus reducing the already rapid depreciation of marine collateral. National's marine lending seminar can refine your personnel's understanding of avoiding collection problems when making the loan. As they become more comfortable with the product, more profitable marine loan outstandings will result. Provided below is a sample outline of subjects covered during a two-day lending, collection and recovery seminar. Additional subjects and issues can be covered based on your specific needs and internal policies.

• Boating and Marine Financing Industry Overviews
• Consumer Lending Laws & Business Practices
• Credit Analysis
• Marine Collateral Evaluation
• Registration & Lien Perfection
• Marine Insurance
• Managing the Collection Effort
• Repossession
• Federal Maritime Foreclosure/Vessel Arrest
• Sale of Collateral
• Open Discussion/Questions and Answers

Marine Loan Servicing Programs

National Liquidators has developed a custom loan-servicing program for loans secured by titled or documented vessels. This servicing program is specifically designed for small to medium sized lenders whose marine portfolio is not large enough to support a separate servicing staff. Major lenders can also benefit by taking advantage of an operation that handles marine loan transactions on a full time basis. We continually study industry trends and their effect on the lending market. For a loan-servicing quote we require that you complete a one-page loan information sheet. Please contact our offices for a copy, or for more information.

Purchase and Sale of Marine Loan Portfolios

National Liquidators has daily contact with many of the leaders in marine lending. We are constantly aware of who is buying and who is selling marine loan portfolios, and how to maximize these sources to the benefit of both parties. National is prepared to coordinate the sale of your problem loans to help reduce delinquency percentages and eliminate wasted personnel time and additional expenses. National Liquidators receives inquiries on a regular basis for candidates for marine loan securitization. The marine lending community is becoming more attractive to the investor market. No loan portfolio is too small to consider for securitization. An alternative is to combine with other lender's portfolios in order to enhance marketability.

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