Commercial Debt Collection Lawyers

Your business may mean the world to you, but what happens when your clients renege on their duty to pay? While many laws protect them as debtors, you also have recourse as a business owner or creditor: hiring a commercial debt collection attorney.

The debt collection lawyers at Destiny Law spare you the hassle of the entire collection process so you can focus on your core operations, helping you increase your productivity and improve your cash flow. We have systems in place for locating debtors and persuading them to pay. And since we are dedicated attorneys above all else, we know how to operate within the confines the law, which means you don’t have to worry about being sued for harassment. For determined debt collection legal services that you can count on, contact Destiny Law today!

Commercial and Consumer Debt Collection

There are several laws that govern credit collections, and the first step a lawyer usually takes is to determine whether they are dealing with a commercial debtor or a consumer debtor. Knowing which set of laws applies is obviously crucial to the efficiency and overall success of your collection efforts.

Commercial debt collection involves debt owed by one business to another, such as debts for unpaid products or services ordered from a supplier. While commercial collectors are not covered by the Fair Debt Collection Practices Act (FDCPA), their practices are still subject to other legislation. On the other hand, consumer debt collection, which is covered by the FDCPA, specializes in collecting debts owed by persons to businesses, such as personal credit card debt, mortgage debt, and so on. Generally speaking, laws that govern commercial collections are more flexible than those that cover consumer collections.

At Destiny Law, our commercial debt collection attorneys use only the most ethical and effective commercial debt collection strategies to help you reach your targets on time without legal complications.

Debt Collection Lawyer vs. Debt Collection Agencies

Debt collection agencies are essentially businesses that collect commercial or personal debts in exchange for a fixed fee or a percentage of the final amount collected through their efforts. While often used as the first line of defense for debt collection, these agencies are once too often involved in improper and even illegal debt collection activities, including misrepresenting themselves as cops or government authorities and making outright threats to debtors. This is the exact type of behavior the FDCPA was created to protect consumers against, and unfortunately, it continues to be a problem with so many debt collection agencies today.

In contrast, commercial debt collection lawyers subscribe to the highest ethical standards in debt recovery, not only to ensure that no laws are broken during the process but to actually increase your chances of getting paid. When a creditor collections lawyer initiates a lawsuit, it is usually enough to gain the debtor’s cooperation in resolving the issue by way of a settlement.

Most debtors cannot justify their longstanding accounts and would almost always settle instead of paying legal costs. But if no such settlement occurs, the creditor collections attorney can get a judgment to compel the debtor to fulfill his debt obligations, possibly leading to bank account garnishment or property liens. Take note this is a power reserved strictly to lawyers, making it the most critical advantage of hiring an attorney for debt recovery. It is also for the same reason that many creditors bypass these agencies and hire credit collection lawyers right from the get-go.

In any case, you need to be fully aware of your creditor rights and collections capability as a business owner or creditor. Our credit collection attorneys will not only track down your debtors but also handle negotiations using our professional knowledge and skills, giving you an instant edge. Should it be necessary to file a case, we will work to obtain a fair and timely judgment based on the specifics of your case.

Little Rock Credit Collection Lawyers

Credit collection is a complex process that requires expertise to ensure success. The attorneys at Destiny Law employ strategic, well-targeted collection techniques that focus on getting the job done without alienating your customers. If collections fail, we will initiate lawsuits to recover your money and proceed to litigation if necessary.

To schedule a no-cost consultation with our Little Rock creditor collections attorneys, get in touch with us today!