If you need a Collections Lawyer, call First Legal’s Bankruptcy Hotline now
(888) LAW-0102, that’s (888) 529-0102
Whether you or your business is trying to collect a debt, or you’ve been named in a collection action, you need an experienced collection attorney on your side. First Legal will help you find a local attorney who practices Collections Law.
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One call to First Legal is all you need. You'll be instantly connected with a local attorney who knows Collection Law like the back of their hand. Why not speak with someone who can help you, right now?
No one plans on needing the services of a commercial debt collection lawyer. You envision a project that will run smoothly and will be a great success. When the project is finished, your smiling clients quickly run to their offices and return with a check for the full balance due, right? That sounds wonderful but in reality some balances owed will not be paid in a timely manner.
Unfortunately, bad debt is just a part of doing business, it’s not your fault and you have a legal right to collect on past-due funds owed to you or your company. If you can't resolve the matter on your own then a commercial debt collection lawyer is your only remedy. There are only so many times you can resend the invoices and call to follow-up before taking stronger action.
Having a clear understanding of your rights and remedies in the event of non-payment will help you approach the situation from a position of strength and clarity. In many cases, just an initial Registered Collection Demand Letter from an experienced Collections Attorney will be enough to get people to pay their overdue bill. The other party’s fear of the cost of litigation, damages, and loss of reputation will help you to collect your money quickly and painlessly.
Hiring a commercial debt collection lawyer will speed things up, and increase your chances of collecting exponentially. An experienced debt collection attorney can also help you to prevent these problems from re-occurring in the future. For example, an experienced debt collection attorney will likely recommend including in future contracts a separate provision to more easily address any future non-payment/fee disputes that may occur. In simple terms, they’ll make it so Non-payment disputes do not need to be handled in the same manner as other disputes under the contract.
Collection Attorneys can draft new contracts specifically for your company that incorporate things like:
Right to Lien: In layman’s terms, Right to Lien gives you the right to take the customer’s physical property if they don’t pay. In law, a lien is a type of security intrigue allowed over a thing of property to anchor the installment of an obligation or execution of some other commitment. The proprietor of the property, who allows the lien, is alluded to as the lienor and the individual who has the advantage of the lien is alluded to as the lienee. For example, if your work improved the value of a property, you have the right to place a lien on it in order to ensure payment of uncollected fees. The method and time to place a lien differ depending on the type of project, so call First Legal and ask a commercial debt collection lawyer to advise you.
Mechanic's Lien: A mechanic`s lien is an extremely valuable apparatus. Mechanic`s liens are tools that many general contractors, sub-contractual workers, and material providers use to ensure their rights and their capacity to get paid for their work. A mechanic`s lien is a claim started by an unpaid lienor (person or company) on the vehicle or machine of the person who has not paid them.
Collection Mediation: Mediation is the act of collecting the outstanding debt by introducing an external person between two disputing parties with intention to end their disagreement. The parties voluntarily agree to mediate and split the cost of the impartial mediator. Unlike court, Mediation is non-binding, so the Parties can accept the mediator recommendation to resolve or they can decide not to accept.
Collection Arbitration: Arbitration is very similar to Mediation. Arbitration is an act in which disputing parties submit their arguments to the ruling of unbiased person or team decided by correlative consent or statutory provision. The initial cost of arbitration is almost always advanced by the party seeking arbitration. The cost to arbitrate is based upon the number of arbitrators and the amount of dispute in question. While of course Collection Arbitration is not free, people use this method because Arbitrators can be much less costly a quicker than going to court. Finally, an award is rendered by the arbitrator(s), which can also include the cost of the arbitration.
The arbitration award must be confirmed in a special proceeding in state court, which must be brought within one year.
Litigation: Litigation is a civil action brought in court to enforce a particular right, such as to recovering a debt in court. It can also be used to collect fees or enforce / exercise a lien. Costs of going to court depending upon the complexity of the case, amount owed, and if the matter is resolved before trial. Litigation can take longer than mediation or arbitration, especially if the case goes to trial. Many of the lower courts have compulsory (forced) arbitration for smaller balances, and the higher courts often choose to send the case to court-ordered mediation as well.
What are the Costs?
You need to speak with an experienced collection lawyer to learn what your options are, and what the cost of each is. Any good debt collection lawyer will be able to explain / estimate both the tangible and intangible costs associated with each of your options. The "cost" of collection of course must make sense and not outweigh the gain. Alternatives to the traditional hourly attorney fee arrangement are available with many collection attorneys offering a Decision for Fee structure. Ultimately, your decision to bring in a Collection Lawyer should:
Make you money
Collect funds which would otherwise be unpaid
Prevent headaches, allow you to focus on other things
Keep these problems from reoccurring in the future
If you have any kind of Debt Collection Issue that you need help resolving or a debt you need help collecting, call First Legal to be instantly connected to a debt collection attorney in your local neighborhood.
All debt collection falls under commercial litigation, which is complicated to say the least. So, if phone calls and invoices aren’t working, you need an experienced commercial debt collection lawyer to take the lead.
Call First Legal’s Collection Law Hotline right now at (888) LAW-0102, that's (888) 529-0102