Debt Collection Lawsuits: Without Specialization Your Collection Efforts Flat-line
Not many know it but, suit analysis and collection attorney selection are vital to your debt collection lawsuit success. To make a point, if you do both of these steps correctly, your odds of collecting will be between 35%-75%. Now, compare this to the national average of 5%.
Can this be true? Yes and here’s why.
- A debt collection lawsuit analysis tells you if your case has a chance at success.
- Attorneys who specialize in debt collections deliver higher recovery percentages.
Here’s the thing. Generalized practices deliver average results. You would not hire a mediocre surgeon with only a few years of experience. Why put the fate of your debt collection case in the hands of a debt collection attorney without the specialization needed to win? The truth is you wouldn’t apply this type of reasoning to a major surgery. So, why apply it to your company’s financial well-being?
The bottom line is this. You need a debt collection attorney with experience, specializing in commercial collections accounts. What’s more, you need the best firm with the knowledge and experience within the collection industry.
With Stevens & Ricci, you’ll work with some of the most aggressive debt collection lawyers. Moreover with lower upfront collection fees. Why? Because results matter. Our collection attorneys get paid on their results.
Look, the only metric that matters is performance. With a contingent rate agreement for our commercial debt collections, you know you’re working with an attorney who is aggressive and motivated to collect.
Frankly, this is the only way you increase your chances of collection. Say good-bye to the days of working with an attorney who simply files suit to a debtor business, makes a follow-up call and hopes your client pays of their delinquent account. It’s time to get serious about collecting on your business accounts receivables. Call us today at 1-888-722-1611.
The Ugly Truth About Your Debt Collection Lawsuit
Let’s assume it makes sense to go to court to collect on your client’s debt. Court costs and filing fees for debt collection suits can vary widely also from state to state. The truth is for a commercial debt collection lawsuit, you could face up-front filing fees ranging from $500 up to $2,500 for a routine case (no dispute, viable debtor, good documentation, etc.). But what if you could have more control over these filing fees? The fact is you can! To top it off, you can start collecting more money in less time.
How Working with the Top 5% Pays Off
Take a look at what sets us apart. With Stevens & Ricci, you increase your debt collection percentages through:
- All files reviewed thoroughly, complete with a work-up summary.
- Attorneys specialized in business debt collection.
- Contingent rates minimize up front court costs.
- Bank garnishments and debtor exams.
- Highly aggressive post-judgment collection efforts.
When to File a Debt Collection Lawsuit
If your in-house collection efforts and outside collection agency have not turned debts into dollars, it’s time to make a decision. Get an expert review of your debt collection lawsuit and professional advice to determine your chance of success in collecting on your commercial debt suit or business debt recovery efforts.
You’ve heard the expression, “Don’t throw good money after bad”. Simply put, it’s time to decide whether to continue with a debt collection lawsuit or put the receivable into your bad debt column. Let us help. Call us today at 1-888-722-1611.
© Copyright Stevens & Ricci, Inc. Originally published January 7, 2014 by Ben Ricci, updated April 16, 2015. All rights reserved.