An intellectual technology supply company provided materials and installation services to an out of state debtor doing business in Massachusetts. When the out of state debtor’s ability to make a $16,000.00 payment short circuited, the supply company needed a business debt collection solution and called me.
I immediately filed suit seeking and obtaining both a reach and apply injunction and an equitable injunction. The reach and apply injunction froze monies that the out of state debtor was owed by one of its Massachusetts’ customers. The equitable injunction sought to prevent the out of state debtor from disposing of its own assets. The equitable injunction was necessary because although the court had personal jurisdiction over the out of state debtor because it did business in Massachusetts, the court did not have jurisdiction over the debtor’s out of state assets.
When the out of state debtor failed to timely answer my complaint, I requested and obtained a default judgment and a permanent reach and apply and equitable injunction. That’s when I rebooted the debtor.
Through the reach and apply injunction, I was able to collect over $3,000.00 from the debtor’s Massachusetts customer for my client. I served the equitable injunction on the debtor’s New York bank. Contemporaneously, New York State also attached the debtor’s New York bank account number. Initially, the debtor’s council wanted me to agree to release the injunction and trust that the debtor would all of a sudden find the will and the way to make monthly payments. My client and I rejected the offer.
As a result of my tough negotiations which precluded the bank from using the debtor’s funds to pay any creditor unless my client got paid, my client collected another $10,000.00. The $13,000.00 amount I collected over a few months was substantially more than my client would have recovered from its struggling debtor.
Businesses benefit from my innovative and determined approach to commercial debt collection. If your business could benefit from an experienced commercial debt collections attorney call Alan M. Cohen at 508-620-6900 or email email@example.com.