For a fledgling new entrepreneur or large organization, creditor, or other types of business, seeking outstanding payments on debt can oftentimes be frustrating and time-consuming, especially when, as a business, there are already other more important tasks to attend to such as making money!! Rather than going at it alone, wise business owners often seek legal professional help to take care of matters regarding debt collection on their behalf.
Debt Collection Attorney vs. Debt Collection Agency?
So, you’ve sent out nearly a dozen of phone calls, emails, and letters but to no avail. It’s time to call on the big guns, aka professionals to get your money back from a client. But, to which professional should you go, experienced commercial collection attorneys such as the Law Offices of Alan M. Cohen & Associates LLC or a debt collection agency for the collection of outstanding accounts?
In situations regarding debt collections of amounts over $6,000.00, and especially when the companies/people you are up against are larger than you, going with experienced collections lawyers is usually the way to go. Besides, it’s always a good idea to get counsel from an attorney who is experienced in the collection of delinquent accounts. A debt collection attorney is well versed in the legal requirements of bad debt collection and can give you proper advice on how to pursue the matter. Many times, all a debtor needs is a slight nudge in the right direction to get them to pay up. For debts that are large enough that you are prepared to go to court for a judgement or lien, an experienced and relentless commercial debt collection attorney is your best option. This is especially so as a collection agency cannot represent you in court or provide you with any legal advice on how to get your money back.
Get Your Money Back…Quicker
Hiring a debt collection attorney for the collection of outstanding debts from a client or customer is in most cases, quicker and more effective. After all, the last thing a debtor may want to do is to stand before a judge and explaining why they are a deadbeat. Hiring a collection attorney who will file a lawsuit to collect your commercial debt is a smart way of recovering unpaid accounts receivables.
Hiring a debt collection agency, regardless of how large or good they are, could mean that you will pay more and wait longer for any real action. That’s because when mere letter writing and calling fail, as they most often do, collection agencies need the services of a debt collection attorney. By hiring the debt collection attorney yourself, you’re basically taking the middle guy (read: debt collection service) out of the equation. The result, you will not only save time, but often any extra charges that you may have to pay by hiring a collection agency.
Professional debt collection attorneys such as the Law Offices of Alan M. Cohen & Associates LLC can provide you with much more than just legal advice and representation in court. Experienced attorneys know how to trace hidden assets of the debtor and know how to use subpoenas or perform searches to locate hidden bank accounts, corporate interrelationships or other assets that the debtor may have that could satisfy the judgment.
Another reason why hiring the Law Offices of Alan M. Cohen & Associates LLC as your commercial debt collection attorney is always a good idea is because we often work on a contingency fee basis, which means if they don’t collect, they don’t get paid a fee. This is unlike a collection agency, where you may have to pay a fee regardless of whether your outstanding debts are settled or not.
To find out more on how the Law Offices of Alan M. Cohen & Associates LLC can help you to collect your bad commercial debt, please feel free to visit us at www.collections-law.com, email us at [email protected] or call us at 508-763-6604.