Reasons to Consider a Debt Collection Attorney
- December 7, 2020
If you have debts, you know how stressful the collection process can be. If you’re a business owner and are looking to collect bills from your customers, and they don’t pay up on time (if at all!), that stress is compounded because you need that money to fuel your business. What can you do if your clients aren’t forking over the cash they owe you for services you already provided?
If you’re a commercial lender, MCA lender, or in the alternative lending space, you understand the importance of a positive revenue stream and how those negative-performing obligations can weigh down a portfolio. Global Legal Law Firm specializes in commercial collections litigation. Our #1 goal, using the power of litigation, is to convert those non-performing obligations into a positive revenue stream once again.
You likely already have a legal collections team – and that’s great – Global is not looking to replace your firm, but perhaps we can address some gaps in your coverage? Our network of attorneys across the country enables us to locate debtors’ assets and go after merchants wherever they turn up.
You may also be sitting on some judgments from other jurisdictions. Global can take those judgments, domesticate them in the state wherein the debtor resides, owns property, or is doing business, and we can pursue aggressive litigation on a Sister State Judgment the same as is available had the judgment been obtained in that same state.
In short, no matter your current collections situation, Global may still be able to help or otherwise augment your current efforts. We are happy to work with your existing legal team, or cover jurisdictions they don’t. Let’s schedule a consultation today to see how you can expand your collections litigation, even on a flat fee basis.
If you’ve been having trouble collecting on a past-due debt, it’s wise to hire a debt collection attorney to help you recover the money you’re owed. Here are five reasons why you should.
1. Experts in Commercial Collections
Unless you’ve been spending your spare time reading up on all the latest debt collection laws, you likely don’t know much about this branch of the law. However, debt collection attorneys are well-versed in the laws surrounding debt collection and can handle the entire process for you. You don’t have to train your finance department to effectively deal with collection clients, and you don’t have to worry about a client suing you over your debt collection practices.
Global has been doing commercial collections litigation since 2008. Not only does Global have the experience and expertise from more than a decade in the industry, but that practice year in and year out has enabled us to hone our processes and finely tune our approach, allowing Global to provide results on a smaller budget than other firms around the country. Our debt collection attorneys pride themselves on efficiency and cost effectiveness.
2. Attorneys Have More Clout
You may have hired a debt collection agency in the past to collect your overdue bills, to no avail. Such agencies don’t convey the formality of the situation. Past due clients who already don’t care enough to pay what they owe you won’t think twice about blowing off regular collection agencies. But when you hire a debt collection attorney, it boosts the urgency and formality of the situation to your past-due clients, who are more likely to sit up and take notice when threatened with legal action.
Global is a law firm, not a mere collections agency. Global is a team of attorneys, lawyers, and paralegals with years of litigation experience who work your debt obligations as a legal suit, applying pressure that only a lawsuit can do. Though Global attacks the debt obligation holistically, and this can include things like reaching out to the debtor for settlement negotiations (which are always an option on the table), our focus is obtaining a quick judgment against the merchant and/or personal guarantors. Once we have a judgment in hand, it opens the door to a variety of legal enforcements which are unavailable to mere collections agencies. Not only can we put pressure on the debtors, but in many cases we can obtain money from them against their will, such as executing a bank levy on known accounts (to give but one example).
3. Leave the Work to the Experts
Before you can sue a customer for a past due amount, you must follow certain debt collection practices in regards to federal and state laws. As part of this, you have to document all of these steps in small claims court, which is time consuming and frustrating, not to mention it’s easy to miss deadlines. But when you hire a debt collection attorney to handle the steps of the collection process, you know the documentation will be precise and picture perfect. Lawyers know exactly what documentation they will need to win a case against a debtor. Never worry again about incomplete or missing documentation.
Once Global takes on your negative-performing debt obligations, either case by case, or an entire portfolio, we set up the case file, plug all of the info into our CRM, and set in motion a well-oiled legal machine to get each matter working in the best way possible. Document management is a strength of any law firm, and with clear and consistent reporting, you’ll always have a handle on the status of each case as it moves forward in the process.
4. Each Case From the Ground Up
Debt collection agencies cannot sue past-due clients under any circumstances. In fact, they can’t even threaten to sue. However, a debt collection attorney can and will sue a client to receive the past due funds you are rightfully owed. As such, you can use debt collection attorneys through all steps of the process, from the initial debt collection stages right through litigation if necessary. With a lawyer on your side, you can keep the whole process under one roof so nothing gets overlooked.
Global begins every matter with a comprehensive collectability assessment performed by our in-house investigative team. We not only locate the merchants and their assets, we obtain information regarding any real property owned, their current financial standing, what other debts they may owe, any other judgments or liens outstanding against the debtors, and many other data points that give us a 360-degree view of the matter. This enables the Global team to work each case in the manner best suited for that given situation. Most cases are best approached from a quick and decisive pursuit of litigation to obtain judgment, but many other cases can be settled almost immediately with the mere threat of litigation, bringing you positive income without incurring the costs of litigation at all.
Global understands the difference, it’s yet another example of what sets us apart in the commercial collections space.
5. Flat Fee Collections
Failing to get paid by clients can have a big impact on your ability to pay your employees on time. When you hire an attorney to handle the debt collection process, this takes the burden off your shoulders and reduces your stress level. No more worrying about the debt being addressed, and no more worrying about whether or not you’ll make payroll. Instead, you can focus on growing your business.
As you can see, Global brings something new to the table in the commercial collections space. Our fine tuned process, honed over a decade of expertise in this field, enables us to offer you three options to budget your collections litigation.
Global has honed its process for commercial collections, with the deft use of technology, coupled with a team of veterans, to provide many of its litigation efforts, both pre and post judgment, on a flat fee basis. Consider how some of these examples could work for your collections budget:
|Domestication of Sister State:
Judgments:Wage Garnishment and/or Bank Account Levy:
Two or more Wage Garnishments and/or Levies on same file:
Execution on Personal Property Assets from Judgment:
Dismissal of Existing Case:
Satisfaction of Judgment/Release of Judgment:
Recording Real Property Judgment Lien:
Complaint through Default Judgment:
Sheriff Keeper / Till Tap:
If the flat fee model does not work for you or for a particular matter, Global always and continues to work on a contingency basis so that we do not get paid unless and until you do.
Global can also work on an hourly rate for those cases you would like to prioritize, or which might require specialized litigation not typical to most commercial collections litigation.
The Global Legal Law Firm Advantage
Global Legal Law Firm offers experienced debt collection attorneys skilled in commercial collections litigation. Learn more today when you contact us for your free consultation. We look forward to speaking with you: together, let’s get that positive revenue stream flowing.
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