Lawyers Recovery & Litigation Services, Inc. is one of the country’s foremost investors in distressed debts. For over a decade, the company has been an active buyer of nonperforming debts, including secured commercial paper, unsecured debts, judgments, deficiencies and charge-offs. The company’s investments are diverse: the range is from a nonperforming shopping center loan in Texas purchased from the FDIC to a pool of nonperforming credit card debt in New York.

With offices on both coasts, Lawyers Recovery is able to fully service debts nationwide. An affiliate of Lawyers Recovery, P&L Investments, LLC, is on the GSA FABS Schedule for Debt Collections. In August 2007, P&L was awarded a large debt collection contract by the Department of Health & Human Services (HHS).

The founder of Lawyers Recovery, Gary Silversmith, started and managed the largest debt collection initiative in Federal government history. When employed by the Resolution Trust Corporation (RTC)/Federal Deposit Insurance Corporation (FDIC), Mr. Silversmith compiled a pool of over Eight Billion Dollars ($8 Billion)(book value) of judgments, deficiencies and charge-offs (JDCs) owned by the Federal government. These assets were transferred to 30 collection teams, whereby the government no longer owned the assets but the government retained a 50% interest in all collections. This large collection program enabled the government to collection Millions, and it is still used today by the FDIC.