Do I Need a Collection Attorney?
With increasing protections for debtors, the rules for creditors to collect debt have become stricter with severe punishment for violations of the Fair Debt Collection Practices Act, including monetary damages, attorneys fees, and more. Unfortunately, debtors’ may simply ignore your personal attempt so recover a debt as well as any collection agencies attempts. However, retaining a New Jersey collection attorney holds more weight and authority since it signifies that legal action may be imminent.
Should I Bother with a Collection Agency?
Collection agencies specialize in sending demand letters to debtors, which are easily ignored and continues to delay your ability to collect the debt. Some collection agencies do offer legal services to their creditor customers but often charge a suit or an “activator” fee when legal action is necessary. Agencies may also have a contract period or required minimum number of placements, which again may delay your ability to quickly collect a debt.
Why Retain a Collection Attorney?
Hiring a law firm specializing in debt collection has many advantages. At Snellings Law LLC, we are familiar with all the applicable laws to ensure that these laws are not violated while collecting the debt. By initially retaining a New Jersey collection attorney, we can save you time, money, and frustrations because:
- Prior to collection actions, we evaluate the legal collectability of your claim, including relevant statutes of limitations or weak documentary evidence issues that may compromise your claim.
- Suits are promptly filed after a demand letter is sent and expiration of any statutory dispute period.
- Prompt verification of the debt when disputes exist.
- Reasonable and achievable debt repayment plans are negotiated and monitored for compliance. Repayment plans are encouraged where applicable to avoid the reduction or voidance of your claim during the debtor’s bankruptcy proceedings.
- If necessary, legal judgments against the judgment debtor are obtained and enforced by filing judgment liens and post judgment garnishment proceedings.
Unlike collection agencies, attorneys are subject to state rules of ethics and professionalism and subject to sanctions by the court for improper handling of client’s affairs or funds. Any funds recovered are deposited into the firm’s IOLTA Trust Account, not into a business account where funds could be commingled.
Contact a New Jersey Collection Attorney
If you are a creditor seeking to collect a debt, contact a skilled New Jersey collection attorney with Snellings Law LLC at (973) 265-6100.