Your success depends on collecting debt from a business depends on a number of factors, including how the business was set up. Was it an LLC, a sole proprietorship, or a corporation? The type of debt also factors in. Is it a contract or agreement, or does the debt arise from the non-contractual conduct of the corporation such as fraud, violations of consumer protection law or other wrongful conduct? The amount of the dead corporation’s debt plays a role in collectability as well.
Collecting debt is even more difficult when the debtor company has closed its doors.
We can help.
When attempting to collect debt from a closed business there is a lot at stake which could interfere with your business operations. You need to concentrate on running your business. Allow us to research your options and make recommendations that are most likely to be successful. You may find that most cost-effective solution is to cut your losses if there are no good options available for you to pursue. We rarely advise taking that approach, however, because we have the expertise to find a debt collection solution so you can recoup your money.
We are well aware that in situations like this, you are most likely not the only business trying to recover money from the defunct business. That is why my twist of the old adage “he or she who hesitates” usually doesn’t get paid is accurate. .
The amount you’ll be able to collect depends on factors including:
• The age of the debt
• Where you are in the line
• The state in which you are attempting to recover money owed to your company.
Business to business debt collection is not governed by the Fair Debt Collection Practices Act (FDCPA) of 1977. Currently, there are no US federal laws, like FDCPA, regulating business-to-business debt collection.
To collect from a defunct business, you need the best possible people working on your behalf. Let our aggressive, trained debt-collection legal team in Boston work to get you the best possible settlement available in a bad situation.
We strive to ensure that you receive both the most aggressive and most ethical pursuit of your interests available in the Commonwealth of Massachusetts. We offer the highest level of commercial debt collection service available. Give us a call today and you’ll be able to get back to work, while we do everything in our power to retrieve the money that is rightly yours.