What Good is a Judgment if There’s Nothing to Collect?
You may have heard of the fusion between debt collection agencies and collection attorneys. The trouble is that the lure of seeking judgment on your commercial debtors could be blinding your business from the truth. A collection suit analysis provides a better perspective and the knowledge of whether you should move forward with a lawsuit for business debt recovery.
Free assessment – Collection suit analysis
Think about this. After exhausting all collection efforts, lawsuits are filed to obtain a judgement for the commercial debt. That could mean up-front court costs and filing fees for your business. But here’s the worst part. Suits are often recommended without the review and oversight of a collection suit analysis. It’s like walking blind; not knowing if you’ll ever see a dime.
You see, collection attorney law firms specialize in filing debt collection lawsuits on behalf of collection agency clients and their clients directly. Let’s take a closer look at what this means to you.
Let’s assume a debt recovery attorney firm with high volume cases can offer you low fees on filing your collection lawsuit. There’s just one small catch. Little to no post-judgment collection activities. The result? A low overall debt collection success rate of your aging accounts.
It all comes down to this. Post-judgment debt collection activities are the most important part to a successful collection lawsuit.
No wonder most collection attorney firms don’t want you to know their secret. Here it is. YOU have to perform your own collection suit analysis, or “workup”. Astonishing, isn’t it?
Please understand this. A lawsuit analysis is vital to knowing whether your commercial debt recovery case shows promise for collecting. Even if your collection agency is recommending suit or you’re handling the collection suit yourself, a suit analysis is key. Do not make the mistake of filing a collection suit without one.
Let’s take that a step further. When it comes to a legal analysis of your commercial debtors, it’s about more than extracting data. It’s about what the data reveals. Your success hinges on the interpretation of the data. No wonder why our legal analysts, the best in the industry have higher success rates that typical collection attorneys and firms.
Simply stated, the kingpin to your successful debt collection case is the recommendation of a skilled legal analyst. At Stevens& Ricci, your suit analysis is done at no cost to you. Why? It’s because of our confidence in the expertise of our debt analysts. Your suit analysis and recommendation is derived from the meticulous assessment of your debtor.
Take a quick look at just a few of the criteria we use in performing a collection suit analysis:
- Corporate status of the debtor
- Years in business
- Name of registered agent
- Whether incorporated in Nevada or Delaware, as state of incorporation can be an issue.
- Business filing to determine whether the debtor is an LLC, C or S Corp
- Officers and principals
- Existing liens & judgments against the debtor
- Trade line credit reports
- Do you have an admission of debt? (even a simple email from debtor saying I owe the money makes a very difficult defense)
- How they answer their phone (screening, etc.)
Find out whether your debt collection case will be successful before you start. This one simple decision could save you thousands of dollars. Call us today at 1-888-722-1611 for a FREE assessment of your case.