Collection Attorneys

What is the main role of a Collection Attorney?

Collection attorneys specialize in collections/creditor rights and represent businesses, collection agencies, banks, credit unions and health care providers, and other commercial creditors in the collection of debts, as well as the protection and enforcement of creditor rights and remedies, including remedies when a debtor has filed for bankruptcy protection.

How can I collect my debt from a debtor?

It depends on the type of debt that is owed to you. There are two types of debt:

• Secured Debt: A debt that has some form of property that is used as collateral to secure the debt. For example: a home loan is secured by the house. If the debtor doesn't pay his/her mortgage, the creditor can foreclose and take the house to repay the debt. Another example is a car loan. If the debtor doesn't pay the car note, the car can be repossessed, sold at an auction to recoup most if not all of the debt. If any debt is left over after the car is sold, the creditor can then hold the debtor liable for the remainder of what is owed. Collection on what is left is done in a similar manner as collecting an unsecured debt (described below).
  
  
• Unsecured Debt: A debt that doesn't have any form of property the creditor can take as collateral. Collection attorneys have a harder time collecting these kinds of debts. Creditor rights attorneys suggest that you continue sending reminders and demand letters. If the debtor still doesn't pay, you can hire a collection agency. Your last resort is to file a lawsuit against the debtor and secure a judgment against him/her through the courts.

Should I hire a Collection Attorney?

There are many confusing legal procedures involved with getting a debtor to pay back a debt. An experienced collection attorney can help you limit your own liability and increase your chances of collecting the debt. If you take the debtor to court, a collection attorney will help you secure a judgment against the debtor, thereby increasing your chances of collecting the debt.

Frequently Asked Questions

• What Remedies Might Be Available Once A Creditor Commences A Court Proceeding?
  There are several remedies possible once a creditor has filed a lawsuit and prior to receiving a final judgment. Attachment is a court order permitting the creditor to seize the debtor's property. … more
• What Issues Should A Creditor Consider When Deciding Whether Or Not To Pursue A Judgment?
  The creditor needs to consider the costs involved with pursuing a judgment. Even when attorney fees are contingent upon recovery, additional expenses include court costs and in some cases third … more
• What Methods are Available for a Creditor to Collect on a Judgment?
  Each state’s civil code lists the different methods that are available to a person who is trying to collect on a judgment.  Some of the more common methods include the following: Wage … more
• What Is The Fair Debt Collection Practices Act?
  The Fair Debt Collection Practices Act requires that debt collectors treat you fairly by prohibiting certain methods of debt collection.
• Can a Judgment Creditor Obtain a Lien Against the Debtor's House?
  Yes.  A judgment creditor can take the judgment and file it in the county recorder’s office, which will then show up as a debt on the debtor’s title to their home that must be paid … more

Free Legal Forms

• Fair Debt Collections Practices Act
• Writ Of Execution
• Notice Of Levy
• Exemptions From The Enforcement Of Judgments