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July 23, 2019 Videos

File a Lawsuit to Collect Business Debt

Debt Collection Lawyers discusses 5 Steps to File a Lawsuit to Collect Business Debt

Are you expecting to receive a payment for money you loaned to an individual or small business? If you have not received payment in a timely fashion, you may need to file a lawsuit. The following 5 steps outline what you can do to collect the debt owed to you.

From the video, it is easy to understand that if you have loaned money to a small business or sole proprietor. However, when it came time for the other party to pay the debt, that party may have paid you back less than the full amount or rebuffed the loan completely. At this point, you will have to consider filing a lawsuit to collect the business debt.

Before resorting to litigation, you and your attorney need to evaluate numerous factors to determine whether you have a viable commercial lawsuit. The first step in any commercial dispute is to obtain experienced counsel and ensure through a retention agreement that the scope of the services the attorney has agreed to perform dovetails with your expectations.

Our NJ debt collection lawyers will be able to answer any of your issues and concerns, recommend how you should proceed, and provide insight into what you can expect from your case.