Businesses often have to work with clients who refuse to pay on time. Some invoices are small and can be absorbed as losses, but in the long run, it is important for a business to find ways to collect what’s due. If you have tried contacting the debtor by sending letters to no avail, you may want to talk to a New York collection attorney. A collection attorney is different from a collection agency. Here are some aspects to know.
The basics
First things first, a collection agency cannot take legal action against the debtors for a client, but a collection attorney can. There are also certain dos and don’ts that agencies are required to follow. A collection lawyer has more leverage, tools, and techniques at their disposal and can take legal action when a debtor refuses to pay. If your judgment debtor has a common name, your lawyer can take steps to find information and have the expertise to do so.
Keeping up with federal and state laws
Many businesses and debt collection agencies don’t understand the various federal and state laws meant to protect the consumer. You may believe that you are doing everything right to collect the money that your business should get, but you could end up making a mistake that could violate the law. With a business collection attorney, you don’t have to bother about all that. They can avoid common mistakes, and their intimate understanding of the laws can help avoid fines and penalties.
Seeking help from collection attorneys
There are many means that collection attorneys use to collect money from debtors. They can garnish company bank accounts or attach a lien on items as per laws. These are things that collection agencies cannot do. An aggressive stance from the collection attorney can help your business collect debts and enforce judgments. Of course, not all attorneys are the same, and therefore, you need to work hard to find a collection lawyer who has credible experience in your field. Since you would have to deal with debts and dues time and again, it is wise to ensure that you don’t settle for less and retain a collection attorney for the future.
Check online for top-rated collection lawyers in NY and talk to them about their work profiles. Don’t shy away from asking questions, and ensure that your lawyer has worked in your industry and has handled different types of debtors in their practice. You can ask for references too.
