Stevens & Ricci provide Collection Services and Arizona Collection Attorneys when Business Debt Recovery is a Problem!
Whether you’re considering a Arizona Collection Attorney or Arizona Collection Agency to help with Arizona business debt recovery and collect your past-due receivable, we’d like to offer guidelines and suggested options to help. Stevens & Ricci offers both collection agency and collection attorney services with affiliate offices in both Phoenix and Tucson. We have the ability to dispatch local private investigators from each of our Arizona locations out to your debtor’s place of business to assist our collectors and/or legal personnel in identifying assets and making our presence felt in order to get you paid quickly.
Arizona Business Debt Recovery
Unlike the standard Arizona collection agency, using the commercial debt collection firm of Stevens & Ricci will bring your organization a high return on your investment. While a typical collection agency in the Phoenix or Tucson area will usually be able to collect about 28% of the debts that you place in their hands, we are able to report a much higher 72% recovery rate. As a bonus, our collection attorneys are usually able to collect within 30 to 45 days to vastly improve your available cash flow. You may be thinking that this must be an expensive service. On the contrary, the Stevens & Ricci commercial debt recovery network will provide better results at a lower total cost. Call us today to get the business debt collection process started for your company.
Why a Phoenix, AZ Debt Collection Attorney is the Best Option
Specialized debt collection attorneys never miss critical opportunities. Instead of giving up after a series of unreturned phone calls, the collection lawyer utilizes the services of our extensive support network to take advantage of private investigators and collection lawyers in other states. No debtor can hide for long when a staff of professional locators is on the case. Although Stevens & Ricci offers pre-litigation collection services, we find that the debtor is more than willing to negotiate once a business collection attorney presents the available options. By combining collections and legal functions, we never miss an opportunity for business debt recovery. Don’t miss your opportunity to use our services for your next commercial claim in Phoenix or Tucson, AZ.
Arizona Debt Collection Laws and Limitations
Arizona Statute of Limitations on Debts
Oral Agreement: 3 years | Written Contract: 6 years | Promissory Note: 6 years | Open-ended Accounts: 3 years
Domestic Judgment: 5 years, additional 5 upon request indefinitely | Foreign Judgment: 4 years
Arizona State Bad Check Laws
Felony: n/a | Misdemeanor: all amounts | Service Fees: $25 or actual bank charge
Civil Penalties: Twice the amount of check, costs of suit, reasonable attorney’s fees
Criminal Penalties: Up to six months in jail or up to $300 or both if under $25; up to five years in state prison or up to one year in county jail or up to $500 fine or both if between $25 and $100; up to five years in state prison if over $100 or if no account.
Arizona Free Sample Collection Letter
Check writer has this many days from date of check’s bouncing to make it good: *12
*Include this in your formal NSF Demand Letter. See sample collection letter: Free Bad Check Letter and Free Tutorial
Arizona Wage Garnishment
Up to 25% of weekly net disposable income
Disclaimer: the Arizona debt collection information provided above is for quick reference only, may not be 100% accurate or up to date with Arizona’s state laws for collecting debts, and is not intended to replace competent and thorough legal advice for collecting debts in Arizona on any particular situation. We make no express or implied warranty concerning any data contained on this page, and we assume no liability for its use.
Arizona Laws Are Not On Your Side
Arizona has a strict statute of limitations that protects the debtor’s interests. You have up to six years to collect a debt that is documented by a written contract and five years to collect on a judgment. If you don’t successfully collect the money owed to you within those time periods, the payments due will be uncollectible. When you use business collection attorneys for corporate debt collection efforts in Tucson or Phoenix, Arizona, you won’t lose an extra minute of valuable time.
Debt Collection Attorneys vs. Collection Agencies
In addition to saving time, using an experienced debt collection attorney has numerous advantages over hiring a typical collection agency. Not only will an attorney outperform a collection agency every time, they also have the knowledge and authority to use collection strategies that aren’t available to a standard collection agency. While collection agencies usually just get voice mail, a debt collection attorney will gain direct access to owners and their agents. If a debtor obtains legal counsel, a collection agency will usually be forced to cease all collection efforts. In contrast, a debt collection attorney welcomes this situation and will actively seek out the debtor’s attorney. Read through the following sections to learn more about the advantages that come with retaining a corporate debt collection attorney.
Debtors will often agree to a short-term payment plan to buy time. When this happens, a debt collection attorney can often convince them to sign a consent judgment. This is a much stronger legal document that allows the creditor to file for an immediate judgment as soon as a payment is missed. There is no need to go to trial with a consent judgment. This not only saves time and court costs, but it also allows the debtor’s bank account to be seized for the total amount due. The banking information is included in the previous paperwork making this a simple process. With a consent judgment, the creditor is in a better position than the secured creditors.
A troubled company can often be given help to stay in business by a debt collection attorney. By using a forbearance agreement, a win-win situation can be created where the attorney prevents other creditors from filing suit against the debtor and restructures their total debt load. Our client and our attorney are able to help the debtor while escalating the client’s payment position and avoiding a lawsuit. Frequently, the debtor continues to be one of the creditor’s valued customers.
If all else fails, Stevens & Ricci will often use creative methods to collect a corporate debt. We may hire private investigators to research the debtor’s other business partners including vendors, suppliers, and banks. We may examine public records or meet with the local district attorney to prepare for judgment collection. A debtor that has successfully avoided our process server may open their door when that same person appears to be a pizza or package delivery person. In extreme cases, we have created billable time for our client by working with the debtor’s lawyer and using this as a new debt to negotiate a settlement.
Arizona Case Study
A Stevens & Ricci client located near Phoenix, Arizona was in a collection bind after they sold surgical equipment to a local surgery center. When the surgery center closed their doors and disconnected all phone numbers, our client did not know how to proceed. Because the center was a corporation, there was no individual person to go after.
Before contacting our office, the client discovered that the surgery center also owed a substantial amount to another vendor. They had contacted a collection agency that had declared their debt uncollectible when they couldn’t reach anyone.
When the client contacted our office, our collection attorneys talked to sales representatives from both our client’s company and the other vendor. We discovered that a local hospital administrator was a friend and associate of the former surgery center’s owner. Through this contact, we found both the name and the number of the debtor’s private medical practice.
Our collection attorney was able to convince the debtor to repay our client although they had no legal responsibility to do so. During the conversation, we discovered that they were in the process of reorganizing their business and would soon reopen as a new corporate entity. Because our attorney treated the debtor with respect, they have reestablished their business partnership. This rarely happens when a standard collection agency handles a defaulted account.
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