When A Debt Goes Uncollected, An Attorney Is Your Best Decision

When A Debt Goes Uncollected, An Attorney Is Your Best Decision

Being owed a debt with no sign of repayment in near sight can be ruinous for individuals and businesses. This is frustrating enough and on top of that, it may seem like the situation is hopeless. A small business owner is already more likely to have more than enough tasks on their plate. Debt collection should not be one of their worries.

First, you must decide whether it is time to bring in some support. When deciding between a debt collection attorney and a collection agency, there are many things to consider. Your first question should be, what is necessary? Can you resolve this on your own, trying to be cordial and amicable with the debtor; or will you need extra help on your side? When the answer to this latter question is “I will not be able to do this on my own,” it is time to seek back-up and avoid a possible disastrous hassle.

Initial conversations with the debtor, demand letters, and even threats to send the debt to collection may be completely ineffective. There are many alternatives out there; for example, you may be inclined to learn more about potentially using a collection agency. A collection agency will charge you for their services but debtors, many of whom are frequent delinquents, may simply ignore the debt collectors because they have no legally binding power to hold the debtor accountable. In this situation, the chances of recovery are zero. But not all is lost – a debt collection attorney can be the perfect solution. A Massachusetts debt collection attorney is the best choice for recovery and success. Here are just some reasons why.

Establishing a Presence
As a business owner or an entity, you want to establish a strong reputation. This includes not being taken advantage of by debtors who hope that you forget that they still have not paid you back (yet). A collection agency can be annoying, and debtors know they can simply ignore and block their calls. But with a Massachusetts commercial collection lawyer on your side, you can be sure that your reputation is safeguarded because now there is a fear of litigation on the debtor’s part. They can no longer avoid the debt; they must do their part, or face litigation. With a lawyer present, a debtor is far less likely to ignore your or your demands. This leads to actual, visible results.

Expertise Gives a Superior Advantage
Put simply, collection agencies are not lawyers. In fact, there is a law prohibiting them from pretending to be lawyers. They do this because they know (and debtors know) that lawyers have more leverage when it comes to negotiation and action. Attorneys have access to data, files, and other pertinent information that will allow them to make an efficient recovery. Only attorneys have the power to file small claims in Massachusetts and pursue further legal action against a debtor. Their legal expertise allows them to go after debtors with the full backing of the law. With this superior ability, attorneys are the ones who will understand all options and pursue the best route for a successful recovery.

Cost-Efficiency
Collection agencies may argue that they are cheaper. But in real life, they often turn out not be. In fact, you can spend a lot of money using a collection agency for weeks or even months and still see no sign of success. Therefore, the “cheap” option is not so cheap anymore. So now you have spent incredible amounts on the agency and still have not recovered what is owed to you. That is why in this case, an attorney should be your first choice. Skip the frustration, stress, and uncertainty that comes with trying to recover on your own or with an agency. An attorney will get right to work on your matter and assess the best options for you. They are serious about your concerns and will not cause unnecessary delays nor expenses.

Handling of Claims
Only the most professional attorneys are equipped to take a debt collection case from start to finish. As mentioned previously, a lawyer will get a debtor’s attention much faster than if an agency had contacted the debtor. Additionally, because of the impending terror of being sued, debtors are more likely to react faster as well. Attorneys have the power to pretty much give the debtor no other option than to pay up, thus helping you reach your goals faster and keep your business running smoothly.

The Right Tools
Lawyers are equipped to handle even the toughest, most complex debt collection claims. Often, collection agencies are not. They are used to handling smaller amounts and using automated systems that do not deliver results for serious business. They may get overwhelmed with the complexity of debt, for example, factors to consider include the size, balance, and age of the accounts. Lawyers trained in this area are particularly competent to manage cases that may seem lost or too difficult. Put your trust in the years of experience, knowledge, and expertise collectively owned by an established debt collection law firm.

Again, only lawyers can file claims on your behalf in court (unless you do this yourself, which is too tedious and time-consuming). They are able to be persuasive, authoritative, and effective. If you are rightfully owed money or judgment and want to be taken seriously, then hire a debt collection attorney.