Representing Businesses in Commercial Collections

How we can help with your collection issues

Our legal team believes in zealously pursuing your delinquent accounts. We begin the collection process with demand letters, but unlike collection agencies, we don’t stop there. If we are not seeing results, we file a lawsuit to pursue your rights in court. Once we obtain a monetary judgment in your favor, we take aggressive enforcement actions. Our goal is to use every method available to achieve a favorable result for your business. We understand that the continued success of your company depends on it.

Providing comprehensive services

Wherever your business or lending institution is located, if you have debtors in New Jersey, we can help. We proudly serve as local counsel for numerous national corporations in the following areas:

Promissory notes

Promissory notes can be complex to enforce since they lack specific provisions for enforcement. Nonetheless, lenders do have recourse to collect. Essentially, a promissory note follows the same rules as a contract. If the promissory note is a valid legal contract, you can enforce it the same way you would any legal contract. In other words, you can sue a delinquent borrow for breach of contract under the terms of the promissory note.

Whether you are collecting promissory notes, personal guarantees, letters of credit or other extensions of credit, we can help.

Loan collections

Secured debt is a loan that has an asset pledged to the lender as collateral. For example, these may include mortgages and vehicle loans. Unsecured debt is a loan that does not have collateral pledged as security for the lender, such as credit card debt and medical bills. We provide effective assistance in both types of loan collections.

Snellings Law, LLC can help creditors collect on both secured and unsecured debt. This includes:

• Mortgages
• Vehicle loans
• Private student loans
• Credit card debt
• Revolving lines of credit
• Credit agreements

While there are many who choose to have a collections agency handle delinquent accounts, debt collection attorneys offer a superior range of options. We can sue delinquent borrowers and obtain judgments against them. We can ask the court to garnish their wages, levy their bank accounts, and obtain writs of execution to conduct seizures of their property. In other words, we can turn unsecured debt into secured debt.

We can also place liens on their real estate. In cases where the real estate is not their primary place of residence, we can force the sale of the real estate to recover the money you’re owed. If it is their place of residence, it will be much more difficult to sell with a lien attached to the property. In cases where the property is sold with the lien, the proceeds of the sale will go to repaying the debt you’re owed.

Bad check recovery

When a client or a customer writes you a check which they cannot cover with the funds available, you can lose hundreds or even thousands of dollars. Each year, businesses across the country lose millions to bad checks. But your business doesn’t have to.

Not only can Snellings Law, LLC help you recover the delinquent balance, we can help you recover damages in the amount of three times the value of the check. The at-fault party will also be required to cover your court fees, legal fees, and any other fees associated with the attempt to recover the money owed. It is worth the effort to attempt to recover that money.

If you have customers or vendors who have issued “stop payments” on a check or simply have insufficient funds in their account to cover the check written to you, we can help with the recovery of dishonored checks.

Credit card collections

When attempting to collect on a credit card debt, it’s important to move quickly. This is true of all unsecured debt. Moving quickly to obtain a judgment against the debtor applies pressure. They will either need to repay the debt or it will force them into filing for bankruptcy. If your acting as the creditor for a business, discharging the debt in Chapter 7 will result in the liquidation of the entire business. If they choose to do nothing, you can use more aggressive tactics to recover the debt. This includes liens and levies.

We provide aggressive and trustworthy services in credit card collections. The law is strict in governing how debts can be collected. However, we take swift action to make a demand, file a lawsuit and enforce your judgment with garnishments and other post-judgment collection actions.

Foreign judgment docketing

A common asset-protection tactic is to move properties into out-of-state trusts or simply purchase property in another state. While this might make it more difficult for a creditor, it does not make it impossible. What you need is an attorney that understands how to domesticate a judgment from another state or country in order to place liens on property owned in the State of New Jersey or recover assets that are held in a trust set up in this state.

If you have obtained a judgment against a debtor in another state and the judgment-debtor owns real property in New Jersey, we can help you domesticate the foreign judgment and make it enforceable in New Jersey.

This is yet another service that Snellings Law provides its customers that a collections agency can’t offer.

Judgment enforcement

If you’ve sued a debtor and received a judgment in your favor, you can take several actions against them. If the borrower is an individual, you can levy their bank account, garnish their wages, or put liens on their real estate. This includes their place of residence. While you cannot force the sale of the property, it will make it more difficult for them to sell and money made from the sale will go directly to you.

If your debtor is a business, you can also levy their accounts and put liens on their real estate. Furthermore, you can obtain a writ of execution in order to seize their property. The business has the option of paying you back, either by simply making good on the debt or filing for Chapter 11. As an alternative, they can file for Chapter 7 which would result in the liquidation of their business with the proceeds paid to you and their other creditors.

It is important to enforce judgments after you have received one. Once you have obtained a judgment, it is important to take action to enforce it. We can help you with garnishments, replevins, recording liens and other judgment enforcement actions.

Obtain the knowledgeable guidance of an experienced New Jersey debt collections attorney

Whatever kind of collection assistance your business needs, a New Jersey debt collection attorney at our law firm is fully prepared to help. Contact Snellings Law LLC today. We provide flexible hours by appointment and convenient parking. In addition, our Parsippany, New Jersey, office is accessible by public transportation. We put your priorities first and strive to accomplish your goals.