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Find the Right Experienced Commercial Collection Attorney for Your Business
As a business, it can be difficult to handle billing and collections, particularly when your customers are behind on their payments and haven’t responded to multiple invoices. An experienced commercial collection attorney can help you pursue debts owed, but the idea of hiring an attorney to handle collections may not be an easy decision for you. After all, no business wants to take unnecessary legal action, and it may be uncomfortable to think about suing customers – even customers who haven’t met their payment obligations.
However, the right experienced collection attorney can help your business deal with customers who have fallen behind on their payments, because the right attorney will know the most effective strategies for obtaining payment with minimal conflict. An experienced collection attorney can also help your business decide what steps to take when customers are resistant to initial collection efforts. There are many ways to recover a debt in Massachusetts, including issuing written demands, working with a debtor to set a payment schedule, and taking necessary legal action to identify assets and obtain court orders if needed. So the first question you need to answer is: how do you choose the right collection attorney for your business?
First, consider the attorney’s area of expertise. Is the attorney someone who dabbles in collections or is that his/her main area of practice? Next is the fee arrangement that is offered. Look for a collection attorney who offers a contingency fee arrangement. When an attorney agrees to accept a contingency fee, the attorney’s fee is typically a percentage of the amount of debt that the attorney recovers. This type of arrangement protects your business, because you will only need to pay your attorney if your attorney gets you the results that you are seeking.
We cannot emphasize enough the importance of the attorney’s level of expertise. Massachusetts has some of the toughest consumer protection laws in the country, so when looking for an attorney to help your business collect debts, look for a firm with decades of experience, that specializes specifically in collecting commercial debts.
Finally, don’t be afraid to act quickly. Statistics show that the chances of recovering a debt drop significantly after 90 days of non-payment. The sooner you find the right collection attorney, the more likely it is that your business will recover debts owed to it.
If you are ready to take action to recover your customers’ unpaid debts, contact us at Goldberg & Oriel today for a consultation. Let’s Talk!