Debt Collection Attorney

Debt Collection Attorneys for Effective Debt Recovery

[Posted on November 3, 2008]

If you are trying to recover debt from another business or even an individual, one of the many tools and resources that a company should use to maximize best results in recovering owed money is a debt collection attorney.

Debt collection attorneys usually are part of or work very closely with a debt collection agency to help those businesses having a very difficult time recover debt. While a debt collection agency can be extremely effective, for certain circumstances including difficult and/or stubborn debtors, a debt collection attorney can use further legal means to recover debt.

A debt collection attorney is an invaluable resource because they can maximize your debt collection helping you recover your full loses in a quick and convenient manner. A debt collection attorney also gives your request more legitimacy and for many businesses a more professional approach to recouping debt.

There are many ways a debt collection attorney can recover your debt including a Demand Letter, filing a lawsuit or even garnishing wages or property. Obviously, your lawyer will look at your state's laws and the specific debt situation to determine how to proceed. It should be noted that a debt collection attorney has more teeth than normal collection methods due to the fact that they are extremely knowledgeable and have the resources to recover debt to the fullest extent of the law.

As stated above, three common ways a debt collection attorney may try to recover debt is with a Demand Letter, lawsuit or garnishment. A Demand Letter in many cases is enough to persuade stubborn debtors to pay up. Not only is this a common way to recover debt, it is usually done very professionally- keeping your businesses' reputation in tact.

Filing a lawsuit is also a common method that is not only widely used, but extremely effective. Many businesses will try to avoid going through a long and possibly costly lawsuit- especially since debtors may be required to pay court and attorney's fees.

Another method that is used by debt collection attorneys on occasion to recover debt from difficult or stubborn debtors is garnishment. The threat of garnishment alone may make many debtors come up with a way to start paying a business back for goods and services. In addition to a wage garnishment, a garnishment on property is also a common way to persuade repayment of debt, since the debtor can not sell a specific piece of property without paying off the debt.

If you are a company looking for an effective way to recover debt, a debt collection attorney used in conjunction with a commercial collection agency may be the right choice for you.

 

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