Credit comes in many forms, from a bank making a secured loan, to a business providing goods and services on an open account. Credit is a key component of our nation’s economy and allows businesses to expand, smooth cash flow, upgrade equipment and engage in many other revenue-generating activities. However, providing credit always involves risk.
Creditors facing uncertainty in recovering financial obligations owed to them need an attorney who:
- Understands all the options available, and which ones make the most sense from a business perspective. This is critically important in debt collection. Sometimes it makes sense to file a lawsuit quickly to properly protect a client’s legal interests. Other times, however, businesses need to effectively work together in the future, making it more advantageous to look for a solution outside the court system.
- Has the knowledge and skill to take advantage of all tools provided under the law to ensure payment. Federal and state laws vary regarding what actions they allow creditors to take against delinquent or defaulted debtors. The best lawyers know what remedies are available to their clients, how quickly they can be implemented, the probably of success, and associated costs of different courses of action.
Contact an Experienced Collections Attorney