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Debt business drives 45,000 s/f legal deal.

Forster & Garbus, LLP, one of the region's leading collection law firms, announced its new offices in Commack, NY.

The firm has relocated to a new 45,000 s/f facility almost twice the size of its former offices in Farmingdale, NY. the former site of a Sym's clothing store.

According to founder and managing partner Ronald Forster, Esq., the move was necessary to accommodate the firm's steady growth and increasing staff.

"Since our inception in 1970, we have been growing at a strong pace owing both to our early adoption of technologies that advance our processes, along with our strict adherence to ethical, professional practices," said Forster.

"Additionally, we have made a major investment in hiring and training high caliber individuals who are effective in meeting our clients' needs."

Those clients include major banks, credit card issuers, debt buyers and utilities. Forster estimates that the firm will be adding between 50 and 100 new employees over the next 12-18 months to meet increasing demand. Based on current collection industry projections, that number may even be higher.

The Bureau of Labor Statistics projected that between now and 2016, the debt collection industry will experience a growth rate of 23%, significantly higher than the average for other industries.

Demand for collection services is particularly expected to increase within the medical (i.e., hospitals and doctors' offices) and government agencies such as the Internal Revenue Service.

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Comment:Debt business drives 45,000 s/f legal deal.
Publication:Real Estate Weekly
Article Type:Brief article
Geographic Code:1U2NY
Date:Aug 17, 2011
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