Getting another bank loan, few people think about a possible default on debt. And of course, no one even thought that in case of delay his credit debt would be resold to third parties. Such a third-party organization is the collection agency Morgan. What kind of company is this? What does she do? What do people say about her? And why did she disappear from bank radars?
A few words about creating an organization
Morgan, or as it is also called Morgan and Stout, is a collection company established in early 2007. She performed debt collection credit organizations and acted mainly on the basis of assignment and agent schemes.
This organization also engaged in full support of enforcement proceedings, provided debt consulting services, and repaid debts at the pre-trial stage and in the trial.
Company reputation and rating
If you believe the data from 2011-2013, the collection agency "Morgan" was one of the five best private companies in the field of foreclosure. It was a fairly influential organization with vast European experience. The company was created with the active assistance of foreign partners and investors, among whom was a fairly well-known Swedish private equity fund called East Capital.
During its work, Morgan opened a lot of offices in 47 regions of Russia. Moreover, the company has offices in 23 countries outside the country.
The company received a number of licenses, among which was the obligation to provide technical protection of confidential data of the FSTEC. And, of course, the Morgan collection agency was part of the “closed club” of the National Association of Professional Collection Agencies (abbreviated as NAPKA).
What clients did you work with?
The Morgan company specialized in overdue debts of financial organizations, as well as large transnational corporations. Despite such a narrow specialization, its customers were not only banks, but also FMCG and telecommunications operators, providers, representatives of the energy sector, housing and communal sector, microfinance organizations. All these firms and enterprises were among the customers of LLC Morgan. The collection agency gladly bought out the lists of their debtors, single and whole portfolios of problem loans.
Among the banks collaborating with Morgan were the following:
- Sberbank
- OTP-Bank;
- Russian Standard and others.
Address: contact details, telephones
Until recently, the Morgan company had several representative offices in the largest and strategically important cities of the Russian Federation. Her office was in Moscow at the following address: 51/23 Pervomaiskaya Street, Building 1. It was here that one could contact the Morgan organization (collection agency). Company phone: +7 (495) 661-44-88.
What happened to the organization?
The real shock for many, especially for debtors and employees of the company, was the termination of the organization in March this year. At first, the Morgan collection agency lost its membership in the National Association of Professional Collection Agencies. The main reason for this decision, according to the representative of NAPCA, was a large debt of the company. In particular, referring to non-payment of membership fees.
From the story of one of the agency’s employees about the closure of the company, they were also not informed. According to his story, they were offered to pick up their things from their offices, citing forced repairs.And the next day they entered an empty room, where there was no furniture and a director.
Does the company work today?
At the moment, the company is not working, offices are closed, phones are not responding, and the site is not working. Moreover, the majority of debtors who have fallen under the gun of the agency now don’t know who to pay their debts to. Even more alarming is the fact that representatives of the organization had personal data of debtors. In this case, there is always a risk that they may be disposed of completely for other purposes.
Where did the director of the company go?
As it turned out later, the director of the company Dimitrios Somovidis (a native of Greece) long left the collection agency Morgan (Moscow). According to employees, before the official closure of the capital's office, the director went on a scheduled business trip. And, as eyewitnesses say, he never returned from it.
Recall that the company itself was registered in Cyprus, had an open line of credit in “Moscow Credit Bank” and successfully repaid membership fees until March 1, 2016.
Reasons for the director’s flight
Among the main reasons for the escape of the director of Morgan, experts call the financial difficulties that have arisen. Is it a paradox? The company, whose activity was debt collection, itself mired in unliquidated obligations. So, the company had an impressive debt to Moscow Credit Bank. Further, there were debts to NAPCA, as well as numerous employees of the organization. By the way, many of them did not receive their promised salary.
There is a more global version related to the withdrawal of money in offshore. According to some reports, Morgan & Stout was associated with several banks and organizations involved in money laundering abroad. In particular, one of these was called ZAO AKB Express-Volga and Probusinessbank. By the way, the former managers of these financial institutions, as well as Mr. Dimitrios Somovidis, left the Russian Federation.
What threatens the closure of the company to its customers and debtors?
According to experts, the situation with the closure of Morgan is not as clear as it might seem at first glance. This is due to the fact that the company was never officially liquidated. Therefore, it may well emerge unexpectedly in the credit space. That's just such an appearance is quite fraught for the debtors themselves. According to experts, after the return of the company many may receive an unpleasant surprise in the form of an increase in the amount of debt.
"Morgan" collection agency: reviews
Despite the fact that the company does not officially work, angry reviews continue to come to its address. So, some users are outraged by the incorrect behavior of company employees. They cite violations of their rights, talk about excessive compulsiveness of collectors, as well as regular phone calls at any time of the day or night.
Many victims of the agents talk about blackmail, threats and obscene language used by employees of the organization in communicating with them. And some even sent non-standard graffiti left by collectors on the walls of their entrance, mailboxes and front doors.
To justify them, we can only say one thing: the collector is also a profession. Therefore, people only do their job. Therefore, it is necessary to treat them as ordinary people who earn their living. Another thing is that they do it all differently!
