Commercial Debt Collection: A Look at the Benefits of Using an Attorney
As a Florida business owner, whether big or small, seeking payment on a commercial debt can be a frustrating and time consuming affair, especially if you opt to do it yourself. Here is a look at what the process of debt collection entails and why you might consider utilizing the services of a collections lawyer rather than doing it yourself.
The Debt Collection Process
The first step in commercial debt collection is writing a demand letter to the debtor reminding them of their obligation to pay you. The debtor may respond by making the payment or, depending on the case, arrange for a negotiated settlement. Alternatively, they may decide to ignore the letter altogether. If this happens, the only option left is to file a lawsuit against the debtor. While this process looks simple and straightforward, in real life business owners often struggle for many months and even years to have their debts repaid. Instead of struggling alone to have your debts paid, employing the services of an experienced Florida debt collection lawyer can speed up the process considerably.
Advantages of Using Lawyer for Commercial Collections
1. Increase your chances of success – No matter how many letters you send, debtors can afford to ignore them because they know the letters are of little consequence. However, if a debtor receives a letter from an attorney they know that failure to respond as required will lead to legal action. In fact, debtors who owe multiple creditors money often pay creditors represented by attorneys first.
2. Obtain a favorable settlement – If you are a small business owner in the state of Florida, you may be so desperate for money that you are willing to accept just about any amount from your creditor. At other times you may be so confident that you reject a good offer from your creditor in pursuit of a better offer that may never come. An experienced collections attorney who understands the intricacies of Florida law will look at your case and the strengths of your documentary evidence and negotiate on your behalf a settlement that is advantageous to you. In addition, when your debtor receives a collection notice on letterhead from an accomplished debt collection attorney such as Thomas J Maccari, P.A. of Boca Raton, they are much more likely to open the notice and pay careful attention to the message, much more so than if you were to send the notice yourself. Letting an experienced lawyer like Mr. Maccari handle the case for you is not only cheaper in the long run but also increases the chances of the debt being paid quickly and on terms favorable to you.
3. Litigation Experience – If as an individual you are not able to collect on a commercial collection account amicably, there is not much you can do except write it off as a loss. By contrast, if our firm isn’t able to complete the collection amicably and litigation becomes necessary, Mr. Maccari’s extensive experience in civil litigation in the state of Florida will allow our law firm to pursue collection of your business claim through the court system efficiently. A law firm like ours will be prepared to carry the lawsuit all the way through trial and we’ll take whatever legal action is necessary in order to effectuate collection of your commercial debt. This added ‘clout’ will give you the advantage you need to ensure your money is collected. Isn’t your time better spent running your business? Contact the Law Offices of Thomas J. Maccari, P.A. at (561) 982-9772 in Boca Raton for a consultation. Serving all of Florida.