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Massachusetts Bank Attachment Laws: What You Should Know

by | Feb 16, 2017 | Business Debt Collection, Massachusetts Debt Recovery

Knowledge is power, even more so when it comes to collecting money from a deadbeat client who refuses to pay. Exceptional Massachusetts debt collection strategy requires knowing how to use court rules, case law and statutory tools to best help businesses collect debt. That is why it is critical for your debt collection counsel to be experienced in protecting your rights when it comes to collecting from your debtors. One of the strategies we often use in debt collection is bank attachments – which freeze your debtor’s funds so that they cannot use them. Some useful points:

There are two ways to obtain a bank attachment – with notice or ex parte (without notice).

Always make a copy of every check you receive from a customer. This keeps valuable information on file such as where your customer or client banks, who is actually paying the bills, changes in bank accounts and most importantly from a debt collection solution –attachment targets if needed by an aggressive and experienced debt collection counsel.

Attaching the money in a debtor’s account does not automatically entitle you to that money. It is a form of prejudgment security where the money is set aside by the bank until the judgment is won.

Even when the bank attachment comes up empty, it may also serve as a kick in the you know where to spur your debtor to pay the debt.

If you need an experienced debt collection counsel in Massachusetts, call the Law Offices of Alan M. Cohen & Associates LLC. Our innovative and strategic tactics have proven successful in our 30 plus years of collecting debt. For more information or to schedule a consultation, please call 508-763-6604 or email [email protected].