At Snellings Law LLC we know and understand debt collection. We assist financial and lending institutions nationwide in collecting on past due debt from individuals that reside or own property in New Jersey. Our clients include bank and corporations. A Denville debt collection attorney can diligently advise your organization in your debt collection efforts. We strive to increase chances of recovery and resolution.
Delinquent Debt Collection Efforts
Under New Jersey law, creditors must act on delinquent accounts within a certain period of time, or potentially lose rights. In many cases, you may need to pursue a debt collection case. Creditors who try to collect on delinquent accounts must strictly adhere to the Fair Debt Collection Practices Act (FDCPA). Violations under the FDCPA can be steep. A Denville debt collection attorney can ensure that you pursue your debt collection under the confines of the law.
Usually, the first step is the attorney preparation of a demand letter, seeking immediate repayment of past due amounts. If the debtor fails to act, then your attorney will file a collections lawsuit in New Jersey court. The collection suit tracks through the court system and with your attorney’s guidance may result in a judgment in your favor. Case settlement is also an option. Finally, we can assist in judgment enforcement.
Improved technology has made “bad” checks less likely, but they still occur. A bad check happens when someone writes a check and either (1) stops payment prior to the check clearing or (2) there are insufficient funds in their bank account to cover the check. These bounced checks result in bank fees and penalties to the creditor, as well as the lost amount of the check. Our Denville debt collection attorneys can assist you recovery of the lost revenue and associated fees.
Default Loan Collection
Individuals borrow money from institutions in two forms – secured and unsecured loans. Secured loans are collateralized against the property itself, for example a house or car. When an individual defaults on the secured loan obligations, you have a legal right to take back the collateral. An unsecured loan is really just a promise to repay money. You have some rights, but no asset to recover. A Denville debt collection attorney can assist you in recovery in both secured and unsecured loans.
Providing Comprehensive Legal Representation
Our Denville debt collection attorney can guide you in collecting outstanding debts from defaulted secure and unsecured debts. The types of debts we assist with include credit card debts, medical bills, student loans and vehicle loans. Often, recover of defaulted debts requires a multistage approach. These actions might include:
- Demand letters seeking immediate repayment
- Filing and litigating a collections law suit in New Jersey courts
- Pursuing possible settlement
- Obtaining judgments
- Actions to enforce judgments such as wage garnishment, liens or repossession
In cases where you seek a judgment against a debtor’s property located in New Jersey, but your organization is not in New Jersey, this is called a foreign judgment. A Denville debt collection attorney can domesticate this foreign judgment in New Jersey and guide your pursuit of the collection claim.
Contact a Denville Debt Collection Attorney for Legal Options
Collecting debt on defaulted obligations can be a difficult task. You must know the laws and how to navigate the process. A seasoned Denville debt collection attorney can simplify the process. Contact us today at Snellings Law LCC for a substantive initial consultation at (973) 567-7240.