Law Offices of Alan M. Cohen & Associates LLCFindLaw IM Template2024-03-22T05:56:48Zhttps://www.collections-law.com/feed/atom/WordPress/wp-content/uploads/sites/1502375/2021/07/cropped-cohen-site-icon-32x32.pngOn Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486462024-03-19T12:53:50Z2024-03-22T05:56:48ZWhat is a keeper attachment?
In Massachusetts, a keeper attachment is a prejudgment attachment in which the court appoints a “keeper” to oversee a debtor’s cash receivables. This prejudgment attachment is especially useful when a debtor is operating a cash-heavy business like a restaurant or retail store.
What does the keeper do?
When the court authorizes a keeper attachment under Massachusetts law, the court-appointed keeper will collect the cash that comes into your debtor’s business. The keeper will keep this cash until the court determines that your debt is legitimate and orders that it be paid to you.
Is it easy to get a keeper attachment?
It is possible to secure a keeper attachment on an ex parte basis and without notice to your debtor. Because a keeper attachment could seriously impact a cash-heavy debtor’s business, the court is not as likely to order a keeper attachment without providing notice to your debtor. Therefore, an innovative and knowledgeable commercial collections attorney can make all the difference in effectively executing this debt collection strategy.
The power of a keeper attachment
When executed effectively, a keeper attachment is a powerful and aggressive debt-collection tactic. Once secured, the money owed to you will be set aside in advance of your judgment. It has the added benefit of serving as an incentive for businesses to promptly pay their debts. After all, an active keeper attachment can cause quite a disruption to a debtor’s business and cash flow and might inspire them to pay their debt to you sooner than later.
Consult an experienced commercial collections attorney today
A keeper attachment is a complex legal strategy. Our seasoned and experienced commercial collections attorneys at [nap_names id="FIRM-NAME-1"] know and understand the intricacies of utilizing prejudgment attachments like a keeper attachment. To schedule a consultation with an experienced commercial collections lawyer, contact our office by calling [nap_phone id="LOCAL-CT-NUMBER-1"] or send an inquiry through our online form.]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486322024-02-23T03:03:23Z2024-02-15T05:45:46ZWhat happens to the debt?
When a debtor dies, their outstanding debts do not die with them. Instead, those financial obligations become the responsibility of the debtor’s estate. However, there are some important things to know:
Under Massachusetts law, a creditor has one year from the date of the debtor’s death to make a claim on a debtor’s estate for the amount owed to them.
If you were in the midst of a lawsuit regarding the unpaid debt, under Massachusetts law, the lawsuit can still proceed against the decedent’s estate.
The named executor of the decedent’s estate will oversee the administration of the debtor’s estate. The executor will also facilitate the payment of debts. As a creditor, it is important to adhere to the legal procedures for submitting a claim against a decedent’s estate.
Ethical considerations of collecting on a debt
Following a debtor’s death, surviving family members will most likely be struggling with the loss of their loved one. However, you also have every right to protect your company’s business interests. Approaching the situation with compassion and understanding can help ease the emotional strain on the debtor’s family. A little bit of patience might also be required before your company can attempt to secure the payment of the debt.
Consult an experienced commercial litigation collection attorney
The death of a debtor presents a unique challenge for a creditor. However, by balancing compassion with the pragmatic need to settle an outstanding debt a company can navigate the situation appropriately. Our commercial litigation collection attorneys have extensive experience in all types of debt collection.
If your business is dealing with a situation in which a business owner or debtor passed away, consider seeking legal advice. Consulting an experienced collections attorney will ensure that you are taking the necessary steps to settle the debtor’s account. Our collection lawyers are available for consultation appointments. You can schedule a consultation by contacting us through our online form or by calling our office at [nap_phone id="LOCAL-CT-NUMBER-1"].]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486312024-02-06T05:15:36Z2024-02-10T05:15:11ZTips and strategies for ethically pursuing collection efforts
Companies can employ several strategies to manage their collections process while staying within ethical and legal guidelines, including:
Establishing and communicating clear credit terms can prevent misunderstandings that lead to unpaid debts.
Keeping detailed records of all transactions and communications with clients can provide support if collection efforts are challenged.
Training staff to effectively and respectfully communicate with clients and customers can help maintain positive relationships, even during collection efforts.
Partnering with a law firm that has a reputation for ethical debt collection can help to ensure that collection efforts are both effective and compliant with the law.
What is ethical debt collection?
A company has a right to pursue a debt that is owed to them. State and federal consumer and commercial laws afford methods for creditors to collect the debts that are owed to them. Our lawyers are well-versed in the Fair Debt Collection Practices Act (FDCPA). Our lawyers also understand the intricacies and nuances afforded by the state of Massachusetts that protect a creditor’s right to collect on debts owed to them. Our collections attorneys help our commercial clients file pre-judgment attachments, file a mechanic’s lien whenever applicable and collect on court judgments.
Schedule a consultation today
Our commercial collections attorneys are available for consultation appointments. Whether your business is implementing its own collections procedures or seeking legal support in collecting outstanding debts, our lawyers have the experience to help you with your legal goals.
To schedule a consultation, contact our office by sending us an inquiry through our website, or by calling our office at [nap_phone id="LOCAL-CT-NUMBER-1"].]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486292024-01-31T16:42:56Z2024-02-05T10:41:48ZWhat is a personal guarantee?
A personal guarantee is legally binding under Massachusetts Law, that agreement in which an individual promises to repay a business debt personally if the business cannot pay. When your company is working with a smaller or medium-sized business, a personal guarantee provides an extra layer of security for you as the creditor.
The significance of a personal guarantee in a business transaction
When a business owner is willing to sign a personal guarantee, they are personally promising to honor any future debts, no matter what happens with the success of their business. A personal guarantee is evidence that:
A business owner has a strong commitment to honoring their business obligations
A debtor is more likely to be prudent with their finances
A debtor may be less likely to default on their debt
Personal guarantees foster business growth between both parties. It serves as a confidence booster for creditors by encouraging them to extend credit more freely.
A personal guarantee facilitates debt collection
In the event a debtor does default on a commercial debt, a personal guarantee will make it easier for your business to collect on the debt. With a personal guarantee, a creditor has additional avenues for collecting commercial debt, beyond the business assets of the company. An enforceable personal guarantee may provide you the creditor with a direct path toward a faster resolution.
How our experienced commercial litigation business collection lawyers can help you get paid
At the [nap_names id="FIRM-NAME-1"], our experienced commercial litigation business collection lawyers provide counsel and advice regarding the intricacies of business collections. Our lawyers can assist your company with preparing the documents and agreements for a personal guarantee. We can also facilitate debt collection, that is filing suit, when you have an enforceable personal guarantee (and even if you do not). A personal guarantee can be a strategic component in managing your company’s financial risk and can enhance your bad debt collection.
Schedule a consultation today
At the [nap_names id="FIRM-NAME-1"], we are available by appointment to discuss your commercial litigation business debt collection needs. To schedule an initial consultation, call our office at [nap_phone id="LOCAL-CT-NUMBER-1"] or send us an inquiry through our website.]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486272024-01-30T03:58:16Z2024-02-02T16:22:52ZWhen debtors are using you for creditor financing
When a debtor tells you that they cannot pay the debt they owe to you, but the company is still in business, this is a telltale sign that they are using the money they owe to you elsewhere. It is also may indicate that they know exactly what they are doing and you might need to go legal to help you collect on this debt.
Smoke and mirrors to distract from the debt they owe
Other times, a debtor will try to distract you with other issues. For example, they will complain about your products or services as a way to deflect your collection efforts. By turning everything back onto you, you can suddenly find yourself playing defense against a debtor’s accusations. This, too, may be a sign that your debtor is trying to deflect as a tactic to avoid your collection efforts. At [nap_names id="FIRM-NAME-1"], we have seen this before and we know how to handle debtors like this.
We work to attempt to shut down games and trickery
At our firm, our collections lawyers do not tolerate delays or excuses. When we get involved in a debt collection matter, we do not waste your time or ours on efforts we don't believe will work. Instead, we take control of your collection matter and we go to work to get you your money.
We will immediately go to work to collect your debt by:
Obtaining a judgment whether procedurally or at trial.
Commencing post-judgment collection efforts: Getting a judgment is the first step. Having a judgment in your debt collection case allows us to employ post-judgment collection efforts and move on to try to get you paid.
At [nap_names id="FIRM-NAME-1"], we are unrelenting in our ethical debt collection efforts. If you have been dealing with a company or individual who has gone to great lengths to avoid paying their debt to your business, and you have exhausted all efforts known to you, we will be happy to step in and take over. Our attorneys are persistent and methodical. We use all appropriate remedies to us under state and federal laws to collect your debt and judgment.
Schedule a consultation with one of our experienced commercial collections attorneys
To schedule a consultation, contact our office by reaching out to us through our website, or calling us directly at [nap_phone id="LOCAL-CT-NUMBER-1"]. We look forward to telling you more about how we can collect on your unpaid judgment.]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486252024-01-23T06:43:03Z2024-01-26T06:42:35ZCreate a paper trail
By sending letters and emails, you are creating evidence of your attempts to collect your debt in writing. If you discuss your customer’s debt in person or over the phone, follow up the conversation with a letter or email summarizing your conversation and any action items that need to be completed. Creating a paper trail will document your attempts in writing and make it easier to sue your debtor. Should you choose to hire an attorney to help you collect your business debt, your lawyer will know exactly where to pick up the process.
Be organized and have relevant information ready
Go into any sort of meeting, in person or over the phone, prepared with all of your facts and information. The more organized you are, the more control you will have over the conversation. This can also include having suggestions for payment plans. However, do not let yourself or your company be bullied into revising the terms of your agreement if that’s not what you want to do.
Stay focused on the task at hand
Oftentimes, clients and other business owners who owe money become very skilled at talking about anything and everything, except the debt that they owe you. Do not let yourself become distracted by small talk. Keep the conversation focused on the debt owed to you, and do not let yourself be steered off course.
If all else fails, hire help
If you have tried everything to collect on your debt by yourself, let us take over and help you. As attorneys, your debtor will know that if we are involved, you mean business. As relentless and persistent collection lawyers, we will not back down. We will ethically pursue all means available to us by state and federal laws to collect on the debts owed to your company.
To schedule a consultation to further discuss how our debt collection attorneys can help you collect your unpaid business debts, reach out to us today. You can schedule an appointment by calling our office at [nap_phone id="LOCAL-CT-NUMBER-1"] or by sending us an email through our website.]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486242024-01-08T07:19:37Z2024-01-11T07:19:05ZWhat is a real estate attachment?
A real estate attachment is a pre-judgment attachment. An attachment allows you to attach your debt to an asset. In a pre-judgment attachment, you attach your debt to the asset before you seek a judgment from the court. If the court approves your attachment pre-judgment, the debtor may not sell the asset before the case is decided. In a real estate attachment, you are attaching your debt to a real estate interest owned by your debtor.
What happens when a real estate attachment is successful?
Ultimately, a successful real estate attachment means that you get paid the money that your debtor owes you. But getting to the payment can take a little bit of patience. After you receive your judgment, you can record your attachment with the Registry of Deeds. An attachment will put you at the front of the line of creditors. If there are other attachments on the real estate, they are prioritized by date. And then you wait.
The importance of a title search
In preparation of a real estate sale, title companies will conduct a title search. Because your attachment was recorded with the Registry of Deeds, any title search will reveal that you have a financial interest in the property. If and when the debtor attempts to refinance or sell the property, your debt has to be paid before the sale or transaction can be completed.
Consult a debt collections attorney today
Our debt collection attorneys at [nap_names id="FIRM-NAME-1"] are thorough and creative. We conduct investigations and examine every possible method of helping you collect on your debt. To schedule a consultation, contact our office by calling [nap_phone id="LOCAL-CT-NUMBER-1"] or by reaching out to us using our contact form. We look forward to telling you more about how we can help you collect your debt.]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486212023-12-12T04:26:08Z2023-12-16T04:24:38ZWe have the right to seize and sell.
Once you win a judgment from the court, the next step is to get a writ of execution. With a writ of execution, we can enlist the deputy sheriff to assist with the seizure and sale of your debtor’s nonexempt assets. The judgment and writ of execution directs that the eligible proceeds from the sale of those assets will be paid to you.
We have the right to bring post-judgment litigation.
While it probably sounds overwhelming to have to go back to court again after you’ve already got a judgment against your debtor, post-judgment litigation allows us to focus on getting you paid. For example, post-judgment litigation will allow us to pursue a reach and apply injunction. A reach and apply injunction allows us to reach around your debtor and direct any money that is owed to them, directly to your pocket instead.
We have the right to pursue supplementary process.
In a debt collection tactic called supplementary process, we force your debtor back into court where we can pursue an asset examination and an order to pay. If they fail to appear, a warrant can be issued for their arrest.
Our aggressive debt-collection attorneys can provide legal guidance and support if you've obtained a judgment against your debtor and aren't sure what steps to take next.
We can help make sure that your judgment leads to payment.
Our experienced debt-collection lawyers at [nap_names id="FIRM-NAME-1"] will help make sure that your judgment means something. We can take your judgment and help you turn it into the payment that you deserve. To schedule a consultation, call our office at [nap_phone id="LOCAL-CT-NUMBER-1"], or send us an email inquiry. We look forward to telling you more about how we can help make sure that your judgment will result in a payment of the debt owed to you.]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486022024-02-23T03:07:06Z2023-12-07T06:32:54ZDomesticating a foreign judgment
A judgment that is issued in one state, must be honored in other states as well. Under the Uniform Enforcements and Foreign Judgment Act a judgment from one state can be domesticated in another. If your company has obtained a judgment that judgment can be domesticated, or in other words, filed and enforced in the Commonwealth of Massachusetts. One way to domesticate a foreign judgment is to register your judgment with the court in Massachusetts. In filing a judgment, the judgment debtor is provided with notice that you have filed your judgment with the court in Massachusetts. After 30 days, an execution issues in Massachusetts. The downside is that you have to wait for the court clerks to give notice and you cannot seek pre-Massachusetts discovery until the execution has entered. The plus side is that the debtor bears the burden of attacking the propriety of the foreign judgment on limited grounds. If you are planning to try to attach the debtor's bank account or income stream or if you have reason to believe that they are in the process of selling real estate, this may not be the approach you want to choose. That brings us to option 2.
Using litigation to domesticate and enforce a foreign judgment
A more aggressive approach to domesticating your judgment is to go straight to litigation to enforce the out-of-state judgment. By filing a lawsuit in the state of Massachusetts, you will also be able to seek pre-judgment attachments. A pre-judgment attachment may prevent your debtor from liquidating assets and property in Massachusetts…assets and property that could be used to pay their judgment debt to you.
When should you use litigation to enforce an out-of-state judgment?
Our aggressive, relentless effective and ethical collections attorneys at [nap_names id="FIRM-NAME-3"] will use litigation to enforce a foreign judgment when time is of the essence. If you know that a debtor has real property or assets in Massachusetts, and you have concerns that the debtor is planning to liquidate its assets, domesticating a foreign judgment by registration will put the debtor on notice that you are seeking to collect on your judgment debt in Massachusetts. The choice of approach is yours, although we generally prefer the litigation approach as we find it most effective in collecting outstanding judgment debt.
When time is of the essence, we will act fast
Our debt collection attorneys have over 50 years of combined experience. We employ ethical and innovative strategies that we customize as needed to facilitate getting you paid. Contact our offices by calling [nap_phone id="LOCAL-CT-NUMBER-1"] or by sending us an inquiry using our online form to schedule an initial consultation.]]>On Behalf of Law Offices of Alan M. Cohen & Associates LLChttps://www.collections-law.com/?p=486172023-11-29T04:43:51Z2023-12-05T04:42:40ZAdvanced legal tactics to collect past-due debts from another business
Chances are, if you are considering a debt collection attorney, your business has already tried collecting the debt on your own. You’ve probably already sent the reminder letters and past-due notices. If you’ve retained a collection agency, they’ve probably sent more notices and maybe even attempted phone calls. A lawyer can do so much more than that. A collections attorney can:
Investigate the debtor business: If you can determine that there is a personal guarantor or who the principals are, you may be able to discern if there is a possibility to hold any of them personally accountable for the debt.
Prepare prejudgment motions: Prior to any sort of litigation, you can attempt to secure payment of the debt in advance of litigation through prejudgment motions to ensure that you don’t just get a judgment for the debt, you also get paid.
Facilitate prejudgment attachments: By filing ex parte attachments to your debtors property and accounts to make sure there are funds available and set aside to satisfy the debt owed to your business.
Pursue litigation to get a judgment: Securing a judgment in your favor will help you legally collect the debt that is owed to your company.
By incorporating proactive measures in advance of seeking judgment, you can put measures in place from the very beginning to make sure your business not only secures a judgment for the debt, but also gets paid the money it is owed.
Our experienced and aggressive commercial debt collection attorneys regularly employ innovative and strategic tactics to make sure you get paid the money that is owed to your business.
Utilize a collection attorney to collect on your B2B debts
Your business has enough to worry about staying in business. Let our debt collection attorneys handle your delinquent accounts receivable so that you can get paid the money owed to your business. To schedule an initial consultation to discuss your collection needs, contact our office by calling [nap_phone id="LOCAL-CT-NUMBER-1"] or by sending an email through our website.]]>