Collecting unpaid debts from debtors can be a frustrating process for lenders, beginning with the decision of how to find assistance with collection efforts. There are many benefits to utilizing the services of a collections attorney for your collection needs over other services. At Snellings Law in Parsippany, our New Jersey collections attorneys have years of experience successfully collecting unpaid debts through a variety of legal means on behalf of our clientele. To learn more about why you should use a New Jersey collections attorney, call the office or contact us today to schedule a consultation.
Eliminating the Middle-Man
When a lender hires a collections attorney instead of using a collections service or other means to try and collect on a debt, it eliminates the middle man from the process. A collections attorney can save a lender time and money in their collection efforts. This saves time compared to attempting collections with an agency that has unsuccessful results, and going straight to a collections lawyer can also save in legal fees and other attorneys’ costs because you will have counsel on the case from the beginning if the claim must be elevated to the legal system.
Expediting the Process
Another benefit of using a collections attorney is that a lawyer typically expedites the process of collecting a debt. When a debtor encounters an attorney, they know that the issue is serious. Debtors are far more likely to repay their debts, and quickly, or communicate with the lender to work out a repayment plan, when they are concerned that the legal system may soon get involved in their business concerns.
When a debtor refuses to pay their debts after being contacted by a collections attorney, the process of filing a lawsuit against the debtor is also expedited because the lender already has legal counsel that is up to date on the case. A lawsuit can be filed quickly, and any judgment against the debtor can be executed to secure the funds or property necessary to repay the loan.
High Quality Documentation
Another benefit to using collections attorneys is their dedication to high quality documentation of your case. There are very specific laws and rules regarding collections practices in New Jersey, and many require crystal clear documentation about the debt and attempts to collect. Lawyers understand what is required for a legal case and will document every step to ensure that any further legal steps have exactly what is required for the claim.
Providing Legal Expertise
Hiring a New Jersey collections attorney also provides legal expertise on the case. A lawyer is able to go over all possible legal options for collecting on debts, including legal judgments to garnish wages, place liens on property, levy bank accounts, provide writs of execution, and conduct seizures on property. Utilizing an attorney provides a client with far more legal options than traditional collection services.
Clear Costs for Services
Collections attorneys often operate on a contingency fee, which means that they do not collect from the client for services rendered unless they collect the debt owed. This ensures that the client will not pay for halfhearted attempts to collect their debts and that they see actual results before paying for services. This differs significantly from other collections options, like agencies, which will demand a fee regardless of whether they are successful at collecting a debt.
Relieve the Stress of the Collections Process
Unpaid debts can cause significant stress on lenders and businesses that rely on the prompt repayment from debtors to pay their own employees and keep their companies running smoothly. When you hire a collections attorney to handle these issues, you relieve the stress of attempting the collections process on your own or hoping that a collections agency will be successful. A collections attorney ensures top quality service, a wide array of legal options, and with a single firm handling your case from beginning to end. To learn more, talk to an experienced collections attorney today.
Talk to Our Office Now
There are many benefits to utilizing a New Jersey collections attorney when you need assistance collecting on a debt. Whether you are dealing with an individual debtor or a large commercial entity, an experienced New Jersey collections attorney can help you get the money you are owed. To learn more about the collections services offered to our clients, call the office or contact us today at Snellings Law in Parsippany to schedule a consultation of your collections needs.