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Nationwide Debt Collection
Many companies find that they are in need of help with collecting a debt that is not owned by a company in their single state jurisdiction. In challenging cases like these, it helps to bring on a debt collection agency or attorney that has the capability to pursue the client across state lines. These attorneys especially will offer legal collection services and advice to their clients who have nationwide collection claims against companies both small and large.
The nationwide debt collecting lawyers in particular work with a national legal network. This multi-office network provides you the creditor with a huge amount and level of experience upon which to draw for collecting debts of all kinds. A nationwide debt collection attorney is able to successfully manage both collection efforts and litigation needs and steps across the country. It does not matter in which state your delinquent account holder resides or is incorporated.
This is because they count on a network of legal attorneys that are based in every state of the country, even Alaska and Hawaii. This gives them the depth and capability of delivering greatly experienced and skilled collection lawyers, paralegals, collectors, collection managers, and support personnel to attain the goals of the clients who engage them in the states where their services are required.
Such techniques and strategies that these national collection attorneys utilize are not new. They have been tried and refined for decades in the process of successfully collecting on bad debts. The collection efforts are made more powerful by the ability of the attorneys to threaten and follow through with lawsuits against debtors not only in the state where the attorney’s office or the client are but also in the state or states where the debtors reside. They are able to do this through their trusted network of attorneys in every state.
Limitations on Collecting Across State Lines
Many creditors are not intimately familiar with the interstate limitations and laws against collecting debts across state lines. In fact, these are a serious challenge to collecting on debts where the debtors are based in other states. Today thousands of different collection agencies and hundreds of debt collection attorneys work throughout the United States. Yet only a tiny percentage of these (such as Boston debt collection lawyers) are able to collect on a national scale.
This is because fully 20 states mandate that a collection agency or attorney collecting debt from commercial enterprises (like companies) must be state licensed to do so. Thirty states require such licensing if the collectors are going after individual consumers. Besides these licenses, every state with such requirements also mandates that the collector must have a separate bond for guaranteeing the client receives their money as the agency or attorney collects it.
Individual bonds in multiple states are expensive. It needs a significant financial commitment as well as going through a verification process to provide evidence that the agency or attorney meets up to all of the licensing requirements for each state in which they want to collect.
The laws involved in collecting across state lines are complex too. The FDCPA pertains to those who would attempt to collect from individual consumers. This is why the overwhelming majority of collection agencies and many debt collecting attorneys simply will not offer a nationwide level of service for collecting debts.
One Stop Nationwide Debt Collection Attorneys Are Rare
There is a short list of debt collection attorneys who do service every state in the country. Given the levels of licenses and bonds required to do so, this is no small feat. Such firms will offer you and their other clientele collection across the U.S.
It saves you having to engage attorneys in the various states in which your debtors reside and operate. These firms provide a central and cohesive group approach of collecting in all of the states utilizing their experienced and established national attorney office network. It saves you huge amounts of resources, time, and money in your nationwide debt collection endeavors as they are able to manage the entire process on your behalf.
Collection Attorneys Superior to Collection Agencies On A National Scale
Collection attorneys on a nationwide debt collection scale are superior to collection agencies. They do more than just send out threatening letters and make phone calls. A debt collection attorney will be able to successfully leverage the laws of each state in the United States in their collecting efforts.
This will enable them to file lawsuits where appropriate and necessary. It will also give them the power to place liens on real estate and other assets so that they are able to collect these debts owed to their clients. This comes in quite handy as many businesses have property or assets across state lines.
For such an attorney with this level of office and affiliate networks, it is not important in which state the delinquent company is based, operates, or even has relocated to. The attorney’s offices will find the assets, evaluate them, and aggressively pursue collecting the debt under all allowable laws and applicable penalties in that particular state where the assets and property are based.
Nationwide Collection Fees
Many customers wonder how these nationwide debt collecting attorneys structure their fees. The best ones, such as Boston debt collection lawyers, work on a contingency arrangement. Once they take on your collection cases, if they are not able to collect any delinquent money on your behalf, then they will not be compensated for their efforts.
This gives them a huge incentive to produce successful collections. The more money they collect for you, the more they receive for their share. Fees with such attorneys will range from between 30 percent to 40 percent contingent on money collected. In some cases, a contingency debt collection attorney will agree to a non-contingency lawsuit arrangement in exchange for getting a smaller percentage. Naturally, those clients who provide a larger volume of collections will be able to negotiate a more advantageous set percentage amount.
Nationwide debt collecting attorneys have enjoyed great success in utilizing their networks across the states to collect delinquent accounts. They file lawsuits and seize property against judgments when necessary. They are fully aware of and empowered by the various state laws to take action on your behalf.