Over 80% of court judgments remain unpaid, according to an oft-cited statistic. Failure to follow good practices when collecting your court-ordered judgment can land you back in court, this time as a defendant. Take the case of a New Orleans-area woman, who in 2011 filed a lawsuit against a debt collection agency because they left a voice message threatening to sue her.
Laura Michaud cited violations of the Fair Debt Collection Practices Act (FDCPA), including unfair debt collection, intentional infliction of emotional distress and invasion of privacy. As Michaud’s case demonstrates, FDCPA makes it difficult for creditors to collect, and if you are trying to collect large amounts from another business, a seasoned collection attorney becomes your best option.
Commercial Debtors Deserve Commercial Collection Attorneys
The primary advantage to using a law firm like Smiley Law for collecting commercial debts lies in the firm’s ability to use the law as a collection weapon. This enables a firm to pursue a much wider variety of options to collect your debt. A good collections attorney knows how to navigate the collections landscape in order to get your business paid for the work or service it performed.
In addition, most commercial collection attorneys work on a contingency-only basis, which means they get paid only if they successfully collect the debt. This not only relieves you and your business of the financial, emotional and logistical burden of collecting the debt, but it motivates the firm to succeed in recovering your debts.
An established collection attorney can also brandish an arsenal of tools and techniques to expedite your collection. One is asset investigation, which examines a debtor’s liquid assets, cash flow, and expenditures, as well as hard assets which you can then place a lien on, or seize / sell to pay delinquent debt. Once a law firm obtains a judgment, it can garnish bank accounts and have the sheriff sell assets.
Let Experience Take On Your Debt Battle
You deserve to collect the money that is owed to you. Prevent debt evasion by turning to the best line of protection: the commercial debt collection attorneys at Smiley Law, who know that the best debt defense is a good offense.