Uncollected debts can cause your business problems because your cash flow often depends on collection from those who own you money.
Not all debts owed are alike. There are commercial debts, consumer debts, debts based on a handshake, debts based on written contracts, secured debts and unsecured debts. The type of debt being collected will affect how you should proceed in trying to collect the debt.
When you have exhausted all collections attempts on your own, it’s best to hire an experienced attorney to help instead of walking away from the money you are owed. We help individuals and small businesses collect money owed.
We keep each client in compliance with the law when collecting the debt, whether it be collecting on a loan to a former friend or a larger loan. We strictly follow the federal and state laws that protect consumers from unlawful debt collection practices.
Conversely, should you receive notification that your debt is being collected on by a law firm or by a third party, chances are they have been retained to file a lawsuit at some point in time. Attempting to settle or set up payment arrangements can be difficult, overwhelming and frustrating. And simply ignoring the problem can lead to judgments rendered against you, garnishments and even foreclosure in some cases. It’s important to understand your rights and responsibilities and we can assist. We can work directly with the creditor on your behalf to make payment or settlement arrangements. It’s important to know that certain federal and state laws apply to any third party creditor when collecting on consumer debt. This includes debt collection agencies, debt buyers, and debt collection law firms.
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