The answer could be different in an individual situation, but in commercial situations generally? The earlier the better. As soon as your ordinary, reasonable debt collection efforts have failed. Ballpark, a substantial receivable that is over 60 days late requires...
If you have a judgment against a Massachusetts commercial debtor, it may surprise you to learn that the courts don’t unilaterally enforce judgments. You sill have to collect – and you’re not going to do that with letters and phone calls. It’s even more maddening when...
Collecting on bad debt is never as simple as it sounds, especially with commercial debt. Even once you have a judgment in hand, many debtors still do not pay willingly. You may need to identify assets yourself in order to claim them for debt payment. One type of asset...
The remedy called reach and apply injunctions is often used by creditors to ensure their debtors are required by the law to pay them back even when they show their bank balance is nowhere near the amount they owe. Therefore, reach and apply injunctions make for a...