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Why A Business Should Retain A Collection Attorney
If you are in business and a debt is owed to you, hiring an experienced commercial collections attorney is a far better idea than working with a debt collection agency. Collection attorneys are more persuasive when it comes to pointing out to your delinquent customers that it is now time to pay up their accounts, or suffer the consequences of a lawsuit.
Commercial Collections Attorney vs. Debt Collection Agencies
There are substantial benefits to working with an attorney rather than a collection agency. For one, attorneys offer more skill and knowledge versus debt collection services. Also, non-attorney collection agencies are restricted to making phone calls and sending letters only. They do not, however, disclose this information when they are trying to solicit your business. Instead, they may sometimes give misleading and false statistics to try and get your business. The bottom line is that debtors fear lawyers more than they fear collection agencies.
Collection agencies cannot file suit, only lawyers can do that. So, even if you were to hire a collections agency, you would still have to retain legal counsel to file suit. Only commercial collection lawyers can file a lawsuit, seek to attach bank accounts, sue and garnish wages or obtain a judgment through the court system. Not to mention, hiring an attorney to collect a debt usually results in faster results; as just the mere act of a lawsuit being filed is enough to provoke instantaneous attention from a debtor who was previously avoiding you.
Actions Commercial Collections Attorneys Can Take
If a lawsuit is filed and the debtor still fails to make a payment arrangement, the lawyer can then pursue other types of pre-judgment remedies. For example, they can freeze the bank accounts of the debtor or go after their real estate.
Once judgment is obtained, there is a multitude of effective post-judgment collection procedures and methods the skilled lawyer can put into motion such as seizing the non-exempt assets of the debtor. A debt collection agency cannot that can do this.
Having a highly knowledgeable and experienced commercial collection attorney only an email or phone call away offers additional benefits to business owners. The main benefit is being able to have questions answered immediately and documents reviewed by legal counsel prior to a problem occurring. This type of ‘preventative legal medicine’ will in most cases make the difference between a missed opportunity and a successful outcome.
For more information on these types of cases and how to retain a commercial collection lawyer, please contact Goldberg & Oriel. Please keep in mind, it costs you nothing to have us evaluate your claim. So, call or email us now.