When you are pursuing a commercial collections lawsuit against a business debtor, it is easy to assume that payment is just around the corner. Unfortunately, this assumption is often wrong. In Massachusetts, the mere act of suing does not guarantee you’ll get paid. This is why prejudgment attachments are important.
At Law Offices of Alan M. Cohen & Associates LLC, our commercial collections attorneys have more than 60 years of experience helping businesses collect unpaid debts. Our collection attorneys are aggressive and relentless when it comes to securing payment for business debts owed to you, and they do so by employing ethical and innovative strategies allowed under Massachusetts laws, like securing prejudgment attachments.
What is a prejudgment attachment?
Prejudgment attachments are powerful legal tools that can significantly improve your chances of recovering unpaid receivables. They allow you to secure assets of the debtor before the court issues a judgment. Essentially, they freeze your debtor’s assets, in order to make sure that there will be something to collect once you win your case. Massachusetts law allows for prejudgment attachments in civil lawsuits. There are three common types of prejudgment attachments used to secure payment for unpaid debts.
Attaching real estate to secure your judgment
Real estate attachments allow you to place a lien on the debtor’s property. This means that before your debtor can sell or refinance property, your debt will have to be paid first. By securing an interest in the debtor’s real estate, you effectively freeze their ability to liquidate or transfer the asset without addressing your claim.
Using an ex-parte trustee attachment to secure your debt
An ex-parte trustee attachment involves garnishing funds held by a third party on behalf of the debtor. This can include bank accounts, accounts receivable or other financial assets. By intercepting these funds before they reach the debtor, you ensure that there are available resources to satisfy your claim.
Using personal property attachments to secure your debt
Personal property attachments target the debtor’s tangible personal property, such as vehicles, equipment, or inventory. By attaching these assets, you gain the right to seize and perhaps sell them if necessary to satisfy your judgment debt. This form of attachment can be particularly useful if the debtor lacks real estate but possesses valuable physical assets.
We know which prejudgment attachment tools to seek.
Our experienced commercial collections attorneys will evaluate the circumstances of your case and determine if there is a viable option for a prejudgment attachment and which type they may utilize. At Law Offices of Alan M. Cohen & Associates LLC, our commercial collections attorneys are efficient and effective. They have an in-depth understanding of what legal options are available for you and how to utilize them to improve your chances of recovering payment on your unpaid debts.
Consult Our Aggressive Commercial Collections Lawyers
Hiring our seasoned commercial collections attorney increases your chances of collecting your business debts. Our experienced commercial collections lawyers will evaluate your claims and seek to secure payment of your debt so that when you will there is a pot of gold from which you can collect.. To schedule an initial consultation, you can reach us by calling 508-763-6604 or by sending an inquiry through our online form. We fight to get you paid.