The rights and remedies available to creditors depends on several factors. A Montville debt collection attorney at Snellings Law LLC can assist creditors nationwide to collect debt from persons living in or owning assets in New Jersey. Our attorneys have the knowledge and experience in debt collection matters. We can help you maneuver the necessary process and procedures to help you achieve a desirable outcome.
Debt Collection Methods
A skilled Montville debt collection attorney can assist you in collecting debt by doing the following:
- Preparation of a demand letter addressed directly to the debtor, demanding immediate payment
- Filing the matter in New Jersey state of federal court and litigating to a final resolution
- Negotiation of a settlement (e.g. money or return of property)
- Enforcement of a judgement
Bad checks are not as common as they once were thanks to improved technology. However, people still do write bad checks. A check bounces when there is insufficient funds in the bank account to cover the check amount. Not only do you not get paid, you usually incur penalties and other fees from your bank. A Montville debt collection attorney can assist you in recovering the bad check amount as well as relevant bank fees.
Credit Card Delinquency
In the State of New Jersey, as a creditor, you only have so much time to act on delinquent credit card debt. Your Montville debt collection attorney can advise you and assist in collection. There are several different courses of action that you may pursue, including:
- Demand for immediate payment
- Lawsuit in the appropriate court of law
- Other litigation, when appropriate
- Settlement negotiations
- Enforcement of collection methods post-judgment
The enforcement of post-judgement actions can include several remedies. Wage garnishment, under certain circumstances, allows a creditor to collect directly from a debtor’s wages. You can record certain types of liens against a debtor’s property. Finally, if the debt is secured by collateral, you can initiate repossession (i.e. replevins).
The name can be a little confusing, but a foreign judgment is any out-of-state judgement enforced against a debtor who owns assets in New Jersey. For example, if you are a creditor in New York State, but your debtor has defaulted in New Jersey, this may involve an out-of-state judgment. A Montville debt collection attorney can guide you in your enforcement rights in New Jersey.
Default on Loans
Whether you have a debtor that defaults on a secured or unsecured loan, a Montville debt collection attorney can help you recover such debt. For secured loans, you hold collateral, such as a house or car. If the debtor defaults, you can repossess or foreclose. When a debt is unsecured, there is no collateral to obtain, but you can enforce your rights. Unsecured loans include student loans, credit cards or loans and medical debt.
Credit Extension Default
Credit extensions include such things as personal guarantees on a loan, letter of credit and promissory notes. If a debtor misses a required payment you may need to take action. A Montville debt collection attorney can help.
Experienced Montville Debt Collection Attorney
There are many variables to consider when someone defaults on a payment obligation owed to you. There are state and federal laws that must be followed. We can provide sound legal advice and efficient debt collection services. Contact a Montville debt collection attorney with Snellings Law LLC for a free consultation at (973) 355-6819.