Collecting Money Owed After Hurricane Irma
Hurricane Irma has brought the Florida economy to a halt. The strain on small businesses may make it harder for your company to collect money from customers to whom you have extended credit. Hurricane Irma has caused many businesses to board up and close. This will obviously have an economic impact on everyone and may make it more difficult for your customer to make payments that are due because of cash flow issues. Once the storm clears, and things get back to “ business as usual” in Florida, it is important for your business to stay on top of their collection accounts.
Collection Attorney – Debt Collection Law Firm
Our debt collection law firm is sympathetic to cash flow problems that small businesses may encounter. However, unless your company stays on top of collecting money owed to your company, your company’s account receivable may end up on the bottom of the stack of invoices your customer must pay. Our collection attorney will make demand for payment and stress the urgency that your customer make payment arrangements to pay the debt owed to your company. If payment arrangements are not made, our debt collection law firm will recommend that suit be started to collect the money.
Call Our Debt Collection Law Firm
Once a lawsuit is commenced to collect the money owed to your company, if your customer is serious about paying the past due invoices, a payment schedule can be set up. The payment schedule would be filed with the court. If the customer missed a payment, your company would be able to secure a judgment for the amount owed to your company. Litigation does not always secure payment of money owed to your company. However, once suit is filed your customer should feel the urgency to get the debt owed to your company resolved.
Speak to a Collection Attorney
Call our debt collection law firm and ask to speak to our collection attorney. Together we will devise a collection strategy that is just right for you.
Collecting Money Owed To Your Company With A Florida Collection Lawyer
Our Florida debt collection law firm has experience in collecting past due account receivable owed to your company. Collecting money from companies that owe your company money can be frustrating. In today’s economy, many businesses are struggling with cash flow which results in paying their vendors on a timely basis. Debt collection hopefully is the last resort for your company and your company has a good internal credit and collection practice in place. Our collection attorney has authored a book to assist companies set up internal credit and collection practices. Click here to get your free copy of this informative Ebook on debt collection.
Florida Collection Attorney Gebeloff
Debt Collection Law Firm – Debt Collection Attorneys
Our collection lawyer has explained before the difference between a commercial collection agency and using a debt collection law firm to assist your company recover bad debt. Collection agencies do have a purpose. However, a collection agency is limited in collecting past due accounts in that they have to rely on sending demand letters for payment and/or make a series of collection phone calls. A debt collection law firm uses collection attorneys and debt collection lawyers to not only send demand letters for payment of money due and owing, but the collection lawyer is able to file a lawsuit to collect on the past due account if collection letters and debt collection phone calls to not lead to the recovery of your money.
Our Florida collection lawyers also concentrate on collecting on judgments. Once a judgment is obtained there are a variety of methods that our debt collection law firm can employ to try and discover assets. Obtaining a judgment for money due your company is not necessarily difficult, it is collecting on the judgment and getting you company paid the money it is owed that sometimes takes the right skill and finesse to liquidate the judgment so that your company collects the money it is owed
Collecting Money in Florida – Collection Agency – Florida Collection Attorney
In past blogs, we have discussed the difference between using a Florida commercial collection agency rather than a Florida debt collection attorney. Collection agencies are not licensed to practice debt collection law. A collection agency typically will make collection calls and send a few collection letters to your customer to collect your money. If the collection agency is not successful, they then have to charge you a higher contingency fee and send the case to a collection lawyer.
Florida collection law firm
A debt collection law firm contacting your customer first to make demand for payment, has a bigger impact than your customer receiving a collection letter from a commercial collection agency. A debt collection lawyer after sending a demand letter and calling your customer demanding payment, can then recommend that a lawsuit be started to recover the money that is owed to your company.
Florida Debt Recovery Law Firm
Once a lawsuit is started to recover your money, your company now has greater control over the debt collection process. Your customer will either recognize the debt and attempt to make payment arrangements with our office – hire an attorney, if there is a legitimate dispute to the debt or ignore the debt collection lawsuit. If the lawsuit is ignored, your company would be entitled to have a default judgment entered against your customer for the amount of the open invoices, costs and interest as allowed under Florida Law.
Florida Collection Attorneys – Lawyers
To learn more about the debt collection process and about how our Florida collection attorneys may be able to help your company recovery its money, we encourage you to contact us and ask to speak to one of our collection attorneys. Working together, we will devise a debt recovery strategy that is just right for your company.
Debt Collection Attorney – Lawyer
Florida debt collection attorney recently performed with the Symphonic Band of the Palm Beach – Armed Forces Salute. When he is not his saxophone, collection attorney Stephen Gebeloff, manages his commercial debt collection law firm in Palm Beach County. The Gebeloff Law Group is a boutique debt collection law firm with its offices in Boca Raton, Florida.
Collection Attorney – Debt Collection Law Firm
The debt collection lawyer prides himself with offering customizable debt collection strategies to his debt collection clients. As an attorney who concentrates his practice on complex debt collection matters, Mr. Gebeloff explores a wide variety of possible of legal theories that he maybe able to utilize when devising a collection strategy for your company. Collecting money from your customers is the primary goal of our debt collection strategy. Sometimes, a demand letter from a collection attorney may be all that is needed to collect on past due invoices. A letter from a collection attorney rather than a collection agency sends a powerful message that your company is serious about collecting past due accounts.
Contact Our Debt Collection Law Firm
When you contact our Florida debt collection law firm, Mr. Gebeloff will take the time to understand your business and make recommendations on how your company can take better control of delinquent accounts. Our firm has developed an attorney demand letter service that may be appropriate. Our collection law firm also considers officer and director liability. There are times when the corporate entity is more of a sham and is akin to the individual officer him or herself. In that case, our collection attorney will look to assert personal liability for the debt on the officer(s).
When you call our collection law firm, our staff will be happy to answer your questions about commercial debt collection law. We are not a commercial collection agency. There are big differences between using collection agencies rather than collection attorneys when collecting your debt. Let our debt collection attorneys help your company maximize collect of past due accounts.
Debt Collection Attorney Pursues Officers of Companies for Fraudulent Transfers
Creditor fraud is more abundant with a tighter economy. Many officers of companies believe they can simply close down one corporation and then open up another company without liability. Our debt collection law firm concentrates on litigating these types of cases. Our debt collection attorney will look to assert personal liability on the officer of the company, your customer and the newly formed company by asserting various fraud claims, including claims brought under the uniform fraudulent transfer act.
Guide to Internal Debt Collection Procedures
Collecting Past Due Invoices
Our debt collection law firm has represented all industries, including insurance companies seeking to recover insurance premium, staffing agencies, commercial lender, material suppliers, just to name a few. No matter what industry your company is in, it is important to take early steps to help eliminate a greater account receivable. Let our debt collection law firm put together a debt collection strategy to help your company collect more past due accounts from your customers. We are not a commercial debt collection agency. There is a vast difference between a collection agency and a debt collection law firm. Collection agencies can send debt collection letters and make phone calls to try and collect past due accounts, however, collection agencies are not licensed to practice law and would have to send the account to a collection attorney to attempt collection of the account receivable if the collection agency was unable to collect the debt.
Collection Agencies Cannot Practice Debt Collection Law
We invite you to call our debt collection law firm and ask to speak to our collection attorney. The collection attorney will review your case and discuss various scenarios that may come into play while attempting collection of your company’s past due account. Our collection attorney has also authored a book on how to set up internal debt collection procedures and practices. We cannot promise we can collect all outstanding accounts, but we can put your company in a better position to collect the money that is due for services rendered or goods sold and delivered.
Collection Agency or Collection Attorney
December is the time of year many businesses take a pause to self asses the year their business had. Many small businesses struggle with cash flow. Companies that have outstanding account receivable often do not have a system in place to pursue bad debt / past due accounts. Our debt recovery law firm has put together a free -E-book to assist companies with their debt collection policies and procedures. Inside the book our collection attorney provides some strategies that may assist a company sharpen up their internal debt collection procedures.
Collection Attorney Stephen B. Gebeloff
If a business has done everything they believe was possible to collect past due accounts, they often may start to consider sending the account to a collection agency. Collection agencies may be an effect tool for debt recovery, but we have discussed the differences between a collection agency, collection attorneys, and debt collection law firms. A collection agency is not licensed to practice debt collection law. Collection agencies typically send accounts to collection attorneys throughout the United States. To send collection accounts to collection lawyers a collection agency must typically charge a higher contingency fee. The reason is that the collection agency is simply acting as a middleman.
Collection Agencies and Debt Recovery Law Firms Are Not The Same When It Comes To Collecting Past Due Accounts
Most commercial collection law firms can provide the same services that a collection agency can, but as stated above, because collection agencies are not collection attorneys, a debt recovery law firm can be a lot more powerful way to attempt the collection of your company’s overdue accounts. A letter and phone call from a collection attorney lets your customer know that your company is serious in pursuing the collection of the past due account.
There are many variants to being able to collect a past due account. Our debt collection law firm believes that before a lot of money is spent on contingent collection fees, a flat fee alternative should be considered. To learn more about flat fee debt collection attorney fee programs our commercial collection law firm provides, we encourage you to contact one of our debt recovery law firm and ask to speak to someone from our debt collection and recovery team. CLICK HERE TO LEARN MORE
Letter Demanding Money Due
Even though companies are getting smarter about extending credit for goods sold and/or services rendered, there are still instances when unexpectedly your company is owed money on past due accounts. Internal debt collection procedures should be in place for your company from the outset, again past due accounts are part of the risk of doing business. If you do not extend some credit, sometimes demanding upfront payment on account may lead potential customers to other service providers and/or companies to get product. We have put out a free guide to help your company set up debt collection procedures.
GET YOU FREE E-BOOK HERE
Guide to Internal Debt Collection Procedures
Past blog posts have addressed the major differences between commercial collection agencies, collection law firms and debt collection attorneys. A collection agency does serve a purpose in some instances when your company may have a high volume of collection accounts with small balances where repeated debt collection calls may be all that is needed to collect your company’s money. However, collection agencies are not licensed to practice law. A commercial debt collection law firm gives creditors a stronger approach to attempting to recover the company’s past due account receivable.
Collection Agency of Collection Attorney Letter Demanding Payment
Our debt collection law firm has set up a new attorney demand letter service. For a flat fee our collection lawyer will draft a letter demanding payment of your company’s past due account. Putting the power of an attorney behind your demand for payment will let your customer know your company is serious about pursuing collection of the account. If the demand letter fro payment does not result in your company receiving payment, our collection law firm can tailor a more traditional debt collection strategy which may include litigation to attempt to recover your money.
Call Our Debt Collection Law Firm
When you call our debt collection law firm one of our collection attorneys will speak to you about your company’s collection policies and procedures. Together we will work on a debt collection strategy that is right of your company, whether simply a letter demanding payment or starting a lawsuit to collect on the past due account receivable.
“Collecting Account Receivables”
“Don’t Let Your Company’s
Keeping on top of your company’s account receivables is vital to maintain cash flow for most small businesses today. The Gebeloff Law Group has created an e-book to help companies devise and implement a debt collection strategy. The title of the book is “ Collecting Account Receivables/ Don’t Let Your Company’s Money Burn.” We are offering a free copy of this book. We welcome you to click the link below to get a copy of the book. We are sure that there will be many useful strategies from setting up a credit application to choosing between a commercial debt collection agency or hiring a collection attorney to collect on past due debt.
Guide to Internal Debt Collection Procedures
Our commercial collection attorneys devise unique strategies to help clients stay on top of their past due accounts. What our debt collection law firm can offer clients is the ability to look beyond the initial demand for payment. Our collection lawyers can pursue alternative theories of liability when pursuing a debt collection account. Our debt recovery firm will look to see if there has been any apparent fraud. If so, we will discuss with our collection clients the possibility of pursuing officers and directors of the debtor company and any successor company that may have been recently established in an apparent attempt to defraud creditors.
We get many referrals from other law firms and collection agencies when they have been able to collect on a past due account. Commercial collection agencies are not licensed to practice law. A collection agency must refer the case to a collection attorney to proceed once the collection agency has exhausted its debt collection efforts.
We invite creditors as well as collection agencies to call us for their debt collection needs. We would be happy to assist any collection agency prior to referring a case to our commercial collection law firm to analyze debtor liability and whether the collection case warrants referral to a collection attorney to litigate.
Taking the Debt Collection Case to Trial with a Collection Attorney
If the collection case has gone as far as trial, it is important to be prepared to provide the proper witnesses and be able to produce key pieces of evidence to prove your case. In collection cases to it is important to provide the witness who can testify that they are familiar with company’s books and records and that those records are usually kept in their custody and control. In other words, the sales representative for your company typically is not charged with the financial aspects of the company and someone who ordinarily would track the books and records of the company. Courts adhere to rules of evidence and may not allow a sales representative to testify as to the account statement or invoices. It is important that you speak with the collection attorney in advance to make sure your company will be able to produce the proper personnel at trial. If not, you may wish to discuss the possibility of settling your collection case prior to the court date.
Collection Attorney Stephen B. Gebeloff
It is important to tell your collection attorney about third parties who may have knowledge about the case. Those parties may be subpoenaed to appear for deposition prior to trial to ascertain their knowledge about the case and or to provide relevant documents. If necessary these same parties may be subpoenaed to appear at trial to testify.
Besides witnesses, it is important to provide your collection lawyer with all the documents surrounding the case, including, but not limited to, contracts, statements, invoices, emails or any other documentation from any third party or the debtor relating to the case. Working with your collection attorney, together you will decide which documents will be offered to the court as evidence.
During the collection trial both your company and the debtor will be able to offer witnesses and other evidence for the court to consider. After all the evidence has been presented the Court will make a decision. If all goes well a Judgment will be awarded to your company. Unfortunately, obtaining a judgment does not obligate a debtor to pay the judgment. However, using a collection law firm to enforce the judgment will be the best way to ensure that if there are assets available to satisfy the judgment either through the debtor’s voluntary payment(s) or seizing assets using writs of execution your company will recover some or all of the Judgment.
Debt Collection Lawsuit
Collection Attorneys Litigate Debt Collection Cases
When a debt collection law suit is filed your customer now knows this is their final chance to make payment arrangements. There are no guarantees that your company will get paid. However, the clock is now ticking for your customer. Our debt collection law firm calls your customer a debtor. Going forward we will refer to your customer as a debtor and we are pretty sure by the time you have had to sue your customer, you are also calling the customer a debtor. There are several scenarios that may play out when a law suit is filed and we will discuss those below.
After a law suit is filed a summons is issued and either a private process server or a sheriff attempts to serve the debtor. If the debtor is served, the debtor has a certain amount of days to file a responsive pleading to the law suit. If the debtor does not respond, a default is entered by the clerk of court. After default is entered you typically be able to submit your proof of the debt to the court and request that a default judgment be entered against the debtor for the amount of the debt. The court typically will allow you to recover prejudgment interest and your court filing fees. Your reasonable legal fees will be allowed in some states only if there is a written contract or statute that allows for attorneys’ fees. Some states do not have this requirement and will also allow you to add attorneys’ fees to the judgment.
Collection Law Firm
If the debtor is a corporation or limited liability company most states will not allow the debtor to represent itself. The fact that the debtor has to retain an attorney adds pressure on the debtor to settle with your company before spending money on an attorney to defend a lawsuit for payment on a debt that is justly owed to your company. If the issue for not paying is the debtor’s cash flow, our debt recovery law firm has found that this is the time that the debtor will finally come forward with a repayment plan. Some debtors look to negotiate and will offer a percentage of the debt in a lump sum payment, other debtor will offer to pay the debt off in installments. Our clients our in the driver’s seat and can make a business decision on what payment arrangement they would be willing to accept or even to accept a payment arrangement at all. What is important for our clients to understand is that sometimes it’s best to allow for a payment plan as the debtor will voluntarily pay money. Payment plans are typically reduced to writing and filed with the court. If a debtor misses a payment, our client would be entitled to enter judgment for the full amount sought in the complaint, less any previous payments made and paid on the account by the debtor.
If the debtor does retain an attorney it may be the debtor has multiple creditors and is trying to stay afloat by filing an answer to the complaint and delaying the inevitable entry of judgment down the road and then work out a payment plan at a later date. Other times, the debtor may have some legitimate reason for not pay some or all of the money our client claims is due. At this point in time, the claim becomes contested and like all other civil litigation cases discovery may be warranted. Each side has the right to conduct discovery, propound interrogatories, and request to produce documents and/or take depositions. The case most likely will be scheduled for mediation prior to trial. Mediation is the time in the case where the parties can set their own course and take the decision making out of the hands of the judge and jury. We encourage our clients to keep an open mind at mediation and strive to reach an amicable resolution to their debt collection case. If the case is not resolved at mediation, the case will proceed to trial.