At the Law Offices of Alan M. Cohen & Associates LLC, our commercial collections lawyers understand how frustrating it can be when a debtor owes you money and seems to be dodging payment. In addition, if your debtor owes money to multiple creditors, you might feel like you are at the back of a long line. You might even feel like you will never see a dime. What can you do to get paid first?
As seasoned debt collection attorneys with over 60 years of combined experience, our collection lawyers are relentless, aggressive, effective and ethical. Using ethical and innovative tactics allowed under Massachusetts laws, we fight to get you paid. If you are tired of waiting for payment, let us help. Contact us today to learn how.
The problem: Multiple creditors, one debtor
Often, your business is not the only one for which your debtor owes money. Usually, a debtor owes multiple parties all at once. This can lead to a situation where you’re competing with other creditors for a limited pool of funds. It’s a stressful and frustrating experience, especially when you’ve provided goods or services in good faith.
The race to collect: Why timing matters
Massachusetts collection laws determine the order in which creditors are paid. Generally, secured creditors get paid before unsecured creditors. Secured creditors are creditors who have a lien or security interest in specific assets of the debtor. This gives them a higher priority. Unsecured creditors do not have this security. They must rely on the debtor’s general assets to satisfy the debt.
In other words, when a debtor owes money to multiple creditors, it often becomes a race to see who can collect first. The sooner a creditor takes action, obtains prejudgment security and obtains a judgment, the better their chances of getting paid before the debtor’s assets are depleted.
Massachusetts collection laws protect debtors
Most collection laws are written with certain protections for debtors and Massachusetts collection laws are no different. This can make it difficult for creditors to collect on debts. Collecting debts from a debtor who owes multiple creditors requires swift action and a deep understanding of Massachusetts collection laws. Our attorneys have the knowledge and experience to:
- Act quickly to secure your place in line
- Navigate complex legal procedures
- Utilize effective collection strategies
- Maximize your chances of recovery
Our experienced and aggressive commercial debt collection attorneys understand the idiosyncrasies of Massachusetts collection laws. They will evaluate your situation, assess your options and help you get paid.
Our Experience, Your Advantage
Our lawyers have spent decades honing their skills in debt collection. We know the tactics debtors use to avoid payment, and we know how to counter them. With our depth of experience on your side, you can focus on running your business while we handle the debt collection process. Don’t let your debtor’s financial woes become your problem.
Don’t get lost in the crowd: Hire the Law Offices of Alan M. Cohen & Associates LLC
We will work tirelessly to get you paid so that you can focus on what matters most: running your business. Contact us today to learn how we can help you collect on your debt and get back to business as usual. Call us at [phone number] or send an inquiry through our online form to take the first step towards getting paid.