Debt Collection -Recovery in December – Not the Most Wonderful Time of the Year to Collect Money
December brings the holidays and with it small business owners not only having to pay their suppliers, but also have the added pressure of having to buy presents for their friends and families. Our debt collection law firm has noticed a trend that many of the companies who we make collection calls to attempt to recover our clients’ past due account receivable overwhelmingly have the same outcome – “We really do not have the money to pay this invoice and/or open account.” Our collection attorneys have noticed that cash flow for most small businesses is on the decline making it harder for our clients to secure timely payments on their account receivable.
Collection law firm – Collection Attorney
Our collection attorney law firm believes that in most cases it takes a collection lawsuit to get the attention of your customer. Until a lawsuit is brought to collect on your company’s open account receivable, your customer may be out buying holiday presents for their friends and family, rather than paying your company on past due invoices. When it comes to collection money, our collection lawyers believe that time is not on your side. The more legal pressure that is put on your customer to pay past due invoices, the greater are the chances to recover the money due and owing to your company. A collection agency is not always the best option to collect money.
We Are Not a Collection Agency
When you call our debt collection law firm, you will be able to speak to our collection attorney to devise a debt collection strategy that best fits the needs of your company and takes into account the financial position of the customer who owes your company money. Collection agencies are not licensed to practice law. A collection agency can only make debt collection calls and send collection letters demanding payment.
Collection Agencies Are One Dimensional – Call Our Collection Attorney
Ask us how our attorney debt collection law firm differs from a commercial collection agency. Yes, collection agencies have a purpose, but when in December collecting money is not the most wonderful time of the year, let our debt collection lawyers guide you in establishing the best strategy to help your company move into the new year with a debt collection strategy that is right for your company. Let our collection law firm help you recover ore money in the months and years ahead.
Florida Collection Agencies Differ From Florida Collection Law Firms
Many creditors continue to send past due accounts to Florida collection agencies. Florida collection agencies send demand letters for payment to your customers that owe money. A collection agency can make debt collection phone calls to attempt to recover your company’s past due accounts. Many creditors come to our debt collection law firm after their account has been with a collection agency. What our collection attorney finds after reviewing the delinquent account is that a collection agency holds on to the past due account for too long. Florida collection agencies loss profit when they need to forward your collection account to a debt collection law firm. The reason is that the collection agency has to split the contingent collection fee with the debt collection lawyer.
Florida Collection Agencies and Fictitious Collection Agency Names
Our law firm is not a Florida collection agency. Florida collection agencies are not licensed to practice law. We see many Florida collection agencies take on fictitious names that lead not only companies to believe they are a Florida debt collection law firm, but deceptively try to lead your customers that they are collection attorneys licensed to practice debt collection law. By way of example, a Florida collection agency will take on the fictitious name Jones, Williams and Smith. The Florida collection agency then instructs their debt collectors to make collection calls stating they are with the firm of Jones, Williams and Smith. That is a highly deceptive practice misleading your customers who are in collection to believe they are being contacted by debt collection attorneys from a Florida debt recovery law firm.
Florida Collection Attorney Gebeloff
Our Florida collection attorney believes that creditors will get better results sending their delinquent accounts directly to our Florida debt collection law firm. Our Florida collection attorney will send an attorney demand letter, demanding payment of the Past due account. If immediate payment arrangements are not made, our debt collection attorney will set forth a debt collection strategy and discuss with your company how your company’s money may or may not be able to be collected. Please feel free to call our Florida collection law firm. We will explain in detail how we differ from a Florida collection agency. Together we will devise a collection strategy that is just right for your company to pursue past due delinquent accounts.
About Collection Agencies:
Collection Agency Directory
Florida Collection Agency
Florida Collection Agencies
Judgment Obtained Against Boca Raton Woman and Real Estate Agent in Rental Scam
Our debt recovery law firm was retained by a Michigan woman, who after being introduced to an alleged high end Boca Raton property, that was supposedly available for rent, sent $26,000.00 as a security deposit to the owner of the property. The real estate agent failed to disclose a material fact to our client, namely that the restrictive covenants of the HOA did not allow owners to rent the property. After learning of this fact, a little too late, our client demanded a return of the deposit. Both the real estate agent and the property owner acknowledged that the money was due to my client , but the money was no longer available to be returned. No explanation was given to our client and soon, the owner of the property and the real estate agent stopped communicating with our client.
Collection Law Firm
Securing a Judgment was Relatively Easy -How to Collect on the Judgment is the Challenge
Obtaining a judgment for our client was relatively easy. It should be noted that we obtained a judgment against both the husband and wife, the owners of the property as well as the real estate agent. In Florida if a creditor only has a judgment against one spouse, property held as tenants by the entirety are exempt from execution. Because we obtained a judgment against both spouses this exemption will not pose a problem in our enforcement efforts. The other area that has to be addressed even though we have a judgment against both spouses, we would not be able to execute on the homestead property of the owners because of Florida’s constitutional protection of homestead property . Fortunately, we were able to find several properties owned by the owners. Since you may only have one homestead, we are now exploring the possibility of foreclosing on the one of the other properties .
Call and Speak to our Collection Law Firm for Assistance
Our firm prides itself in exploring many avenues of collection. Our debt recovery firm has seen an uptick in fraudulent activity, coupled with the weak economy. There are many people who will resort to many unscrupulous activity when they are desperate enough for money. As for the real estate agent, his license is in jeopardy. We will also explore the agent’s personal assets to attempt to secure the liquidation of the judgment for our client. As our debt collection attorney is beginning to piece together a solid debt collection strategy for our client, it is still too early to tell you with certainty how collection on the judgment will occur. We will keep posting about this case and its debt collection strategy in future debt recovery law firm blogs.
We Welcome Complex Debt Collection Matters
Other attorneys who are not versed in post judgment collection, often refer their toughest cases to our debt collection attorney for review. We do not take on all cases, but we do try to give each prospective client of our debt collection law firm an honest assessment of what steps can be taken to enforce the judgment and thereafter, from our years of experience as collection attorneys prognosis as to chances of recovery. We encourage anyone with a debt collection issue to contact our debt recovery law firm. Together we will devise a collection strategy that is just right for you.
Debt Collection -Recovery for Small Business / Collecting Account Receivable
When a small business carries account receivable on the company’s books, cash flow can be severely impacted. Internal collection procedure should be established so that past due accounts do not get too far behind. Many companies when they cannot collect on past due accounts start to consider using commercial collection agencies. A commercial collection agency typical will send out a series of collection letters demanding payment of the past due account. A collection agency will also pass the debt collection account to several debt collectors to try and collect on the past due invoices.
Collection Agencies Have Limitations
In today’s economy, the old model of sending an account a collection agency may not be as effective as it was several years ago. Today those companies that push the hardest will get paid the fastest. Our commercial debt collection law firm has several different approaches to collecting past due accounts. Just like a collection agency, our collection lawyer will draft a demand letter seeking payment of the past due account receivable. A significant difference is that demand letter for payment of the account is on a collection law firm’s stationary. A demand letter for payment coming from a collection lawyer, rather than a collection agency will have a greater impact on stressing the urgency of your customer making payment arrangements to satisfy the debt.
Florida Collection Attorney Gebeloff
Attorney Demand Letter for Payment
Our debt recovery law firm has also developed a program to offer a flat fee for sending a demand letter for payment of debt followed by a phone call from one of our attorneys to help recover money due to your company. Using this program a creditor does not have forfeit a high contingent fee to a collection agency. A demand letter from a collection attorney has a greater impact and has the potential to save your company significant amounts of money in collection fees. Call our debt recovery law firm today and ask to speak to a collection attorney to discuss an effective debt collection strategy that is just right for your company.
Debt Collection Law Firm
Thanksgiving means a lot of different things to different people. However, for a small business it may be time to start looking at different areas of the business that may need adjustments to better help with the overall cash flow of the business. Collecting on past due account receivables and/or setting up credit and collection procedures for your company may be one of those areas that with paying closer attention to collecting past due accounts, might make a difference.
Collection Law Firm to Collect Past Due Accounts
Commercial Collection Agency
Our debt collection law firm offers small businesses a variety of options to consider. Commercial collection agencies are one way, but our collection attorney has discussed in past blogs the difference between a collection agency to collect past due accounts and a collection lawyer in a debt recovery law firm to collect your company’s past due account receivable.
Our Collection Attorneys Can Help Collect Past Due Account Receivable
Our firm has recently added a flat fee commercial demand letter for payment of debt. Our clients were asking us for examples or templates of collection letters but, most found that a debt collection letter coming from a collection attorney was more effective than the company simply sending a letter demanding payment. A company should send a demand letter for payment first, but after time passes it will become apparent when a company is simply stalling or cannot pay on the past due account. If your company is interested in exploring our debt collection law firm’s flat fee letter to collect on past due accounts, feel free to visit our website.
Of course, or debt collection firm offers the same traditional collection agency services – letters and phone calls, but unlike a commercial collection agency, our commercial collection lawyers will be able to bring suit to attempt collection of your company’s past due account receivable when warranted.
COLLECTION ATTORNEY TO RUN MARINE CORPS MARATHON
Boca Raton, Florida collection attorney has pledged to run the 2016 Marine Corps Marathon in support of the Leukemia and Lymphoma Society. His debt collection law firm provides debt recovery and commercial collection services to corporations, individuals and collection agencies nationwide. The Gebeloff Law Group is there to support a collection agency when their debt collectors are unable to secure payment of past due debt. Collection agencies are not licensed to practice debt collection law. They must send noncollectable account receivables to collection lawyers for litigation when their agency cannot collect the debt.
FIFTH MARATHON FOR COLLECTION LAWYER TO BENEFIT LEUKEMIA AND LYMPHOMA SOCIETY
Collection lawyer Gebeloff has pledged to fund-raise to support the Leukemia and Lymphoma Society.
(Click Here to Sponsor Steve)
Collection Attorney Gebeloff
The debt collection law firm is fortunate that is has collection agency and other clients the firm provides commercial collection services for. These collection agencies and commercial clients have sponsored his efforts. Just like running a marathon collection of past due accounts requires careful planning. Collecting on judgments in particular requires analyzing each fact pattern on a case by case basis. The firm’s debt collection attorney will look for ways to impose personal liability on officers of the debtor company.
COLLECTING DEBTS, RUNNING MARATHONS, RECENT DEBT COLLECTION AUTHOR
Collection attorney Gebeloff has recently authored an E-Book on collecting on past due accounts. The book is free and will be a valuable tool for many companies that extend credit. The book helps set up internal credit and collection policies and procedures for companies as well as discusses collection agencies, commercial collection attorneys and post judgment debt collection strategies. Feel free to download a copy of the “Collecting Account Receivables” E-Book HERE.
Collection Agencies Have Limitations
For most small businesses, having to engage in collecting past due accounts becomes frustrating. For small business owners cash flow is crucial to keeping the lights on and the business up and running. Having to take the time and resources to attempt to collect past due accounts internally takes away from the time the business should be focusing on their core business. There are commercial collection agencies to consider. But, perhaps a better alternative is utilizing debt collection law firms who focus their practice on representing business that are owed money. We have talked in past blogs about the limitations of using a collection agency to collect your company’s money.
Collection Agencies Are Not Licensed to Practice Debt Collection Law
A collection agency cannot hold themselves out as a debt collection law firm nor can they legally practice debt collection law. Collection agencies send a series of collection letters and then attempt to collect past due accounts by making debt collection telephone calls demanding payment. Collection agencies also typically will charge a contingent collection fee between 25% to 40%. If a lawsuit is required to sue a debtor for your money, the agencies typically will raise the contingent fee even higher.
Debt Recovery Law Firm
Alternative to Collection Agencies
Our commercial debt collection law firm has designed a new program to offer credit managers and small business owners an alternative to paying a collection agency high contingent collection fees. We have established www.AttorneyDemandLetters.com . With this unique debt collection service, a flat fee is offered. We will send out an attorney demand letter for payment of your money and also offer an option for attorney demand telephone calls. The concept is to “Put the Power of an Attorney Behind Your Demand for Payment.” It is clear that when your customer sees demand for payment coming from a debt collection law firm rather than a collection agency, your customer will now that their time to contact your company to make payment arrangements is running short.
Please visit our website for further information on how you can use the power of a debt collection attorney to help you recover your money. We will show you why it may no longer be necessary to consider using commercial collection agencies to collect past due accounts.
Collection Agency Litigation Departments Forward Claims from their Collection Agencies
A collection agency is not licensed to practice debt collection law. Collection agencies set up departments in their collection agency to forward accounts for collection of past due account receivables to commercial collection attorneys. Our debt collection firm has established a division that gives credit managers the opportunity to forego using a collection agency and send their accounts for collection directly to our commercial debt collection law firm.
Debt Collection Law Firm
AttorneyDemandLetters.com May Save You Money When You Use An Attorney Debt Collection Service Instead of a Commercial Collection Agency
AttorneyDemandLetters.com was established to offer credit managers a low cost solution to paying high collection agency contingent fees. Just like collection agencies our collection lawyers will draft a demand letter for payment. In addition, we offer an attorney telephone demand service to let your customers know that your company is serious about collection past due accounts that are due. Collection agencies typicaly charge between thirty – forty percentage contingency fees. With our flat fee service, you may save thousands of dollars using this debt collection service instead of utilizing a collection agency.
Collection Agencies May Not Be As Effective
Once your customer sees that you have retained a law firm to assist your company collect past due debt, the debtor will know that if arrangements are not made with your company for payment, litigation may be imminent. Today, most debtors recognize that a collection agency cannot bring suit. Collection agencies rely on commercial collection attorneys to bring suit on behalf of their collection agency clients. The collection agency in effect is acting as a middleman. As a result, you end up paying a higher contingent fee. By cutting out the collection agency you are eliminating the middle man and will save on contingency fees.
Collection Agencies Use Demand Letters
Collection agencies have been referring their collection agency accounts to our commercial collection law firm early in their debt collection process. In previous blog posts we have discussed the difference between a collection agency and a collection lawyer. There has been a lot in the news about collection agencies, With the economy slowly recovering businesses are starting to extend credit again. The result is that there are more collection accounts that may need to the assistance of a third party debt collector. The client needs to decide whether to send the account to a commercial collection agency or a collection attorney.
Guide to Internal Debt Collection Procedures
When the client has many small balance accounts that are past due, sending those collection accounts to a collection agency may make sense. A commercial collection agency is not a collection attorney and not license to practice debt collection law. Collection agencies have systems in place for handling huge volumes of claims and can send multiple demand letters for payment and make many debt collection phone calls. However, once a matter is not able to be collected a collection agency must send the account to a collection law firm to pursue further debt collection activities.
Collection Agency Alternative
Our law firm has launched a new service wherein; a creditor can put the power of an attorney demand letter behind their demand for payment. Most people who owe money would take the threat of legal action from a lawyer letter demanding payment over simply receiving a collection letter from a commercial collection agency. Our attorney demand letter for payment service also offers an avenue where collection calls are made from our collection attorneys and trained collection staff.
Collection Agencies Use Our Debt Collection Service
We encourage you to visit our web site to learn more about our attorney demand letter service for debt collection. You may find this service a better and less expensive alternative to placing your collection accounts with a collection agency.
Collection Agencies and Collection Departments Utilizing Debt Collection Book
Our EBook Collecting Account Receivables has been getting very positive feedback. Our commercial debt collection clients have told us that they downloaded the book and have had their accounting staff read it. The book helps creditors set up internal debt collection strategies. Discussed is also the difference between a collection agency and a debt collection law firm. Collection attorneys can provide debt recovery services that commercial collection agencies are not able to provide legally.
DOWNLOAD FREE COPY OF EBOOK
Guide to Internal Debt Collection Procedures
Collection Agencies Hire Collection Attorneys
Collection agencies are limited to making phone calls and sending demand letters for payment. Collection agencies cannot file a law suit, take depositions in aid of execution or garnish bank accounts to seize assets once a judgment is obtained. Obtaining a judgment is not the hard part if a debt is justly owed. It is how you collect on a judgment. A collection agency is not licensed to practice law and must retain a collection lawyer to implement a litigation strategy to collect on accounts. Collection agencies when forwarding a debt collection case to a collection attorney typically will charge their client’s a higher contingent fee because they have to charge a fee on top of the collection lawyer’s fee. Many credit managers realize that when it is apparent customer is not paying, it makes sense to retain a debt collection law firm rather than a collection agency. Not only will the credit manager save money but, putting the power of an attorney behind your demand for payment is more effective.
Collection agencies serve a purpose when there is a high volume of cases with relatively small balances to collect. We invite you to contact our commercial debt collection law firm to discuss the differences between utilizing a collection agency or forwarding your commercial collection accounts directly to a collection attorney.