Michigan Collection Attorneys - Business Debt Recovery

Corporate Debt Collections in Michigan is Easier when you work with Stevens & Ricci

If your Michigan company is less than satisfied with the results provided by the typical collection agency, consider using a corporate debt recovery attorney instead. The Stevens and Ricci firm specializes in corporate debt collections and delivers a 72% recovery rate. When you compare this number to the much lower 28% rate offered by a normal collection agency, it’s no wonder most of their customers are disappointed. As a bonus, we can even collect your money faster. In most cases, we can resolve your case in less than 45 days. Offices in Ann Arbor, MI or Detroit, MI – Call today to start the collection process.

Grand Rapids, Michigan Collection Attorneys Succeed Where Others Fail

The Stevens and Ricci collection attorneys succeed where normal collection agencies fail because the agency frequently misses critical opportunities. A collection agency will make phone calls, leave messages, even send letters, but that’s about it. A business collection attorney will take any step necessary to track down your debtor to negotiate payments. With a national support network that includes debt collection attorneys and private investigators in every state, your debtor literally has nowhere to hide when trying to avoid paying their bills. The Stevens and Ricci firm concentrates solely on pre-litigation collection methods, but the mention of a potential lawsuit can quickly bring your debtor to their senses. By combining the legal and collection functions, we have created the most effective commercial debt recovery system, bar none. Don’t miss your chance to allow a Stevens and Ricci corporate debt recovery team to represent your interests in Lansing, Michigan or Mt. Clemens, Michigan.

Michigan Debt Collection Laws and Limitations

Whether you’re considering a Michigan Collection Attorney or Michigan Collection Agency to help 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 Ann Arbor, Detroit, Grand Rapids, Lansing, Mt Clemens, Southfield, Sterling Heights and Warren. We have the ability to dispatch local private investigators from our Michigan 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.

Michigan Statute of Limitations on Debts

Oral Agreement: 6 years
Written Contract: 6 years
Promissory Note: 6 years
Open-ended Accounts: 6 years
Domestic Judgment: 10 years, renewable
Foreign Judgment: 10 years

Michigan State Bad Check Laws

Felony: >$50
Misdemeanor: <$50
Service Fees: $25

Civil Penalties: Face amount of check plus twice the amount of check or $100 er check, whichever is greater, plus court costs of up to $250.

Criminal Penalties: Up to $250 fine or six months in jail. Up to $500 fine or one year in jail.

Get a Free Sample Collection Letter for Debt Collection on Michigan-based Businesses

Check writer has this many days from date of check’s bouncing to make it good: *30

*Include this in your formal NSF Demand Letter. See sample collection letter: Free Bad Check Letter and Free Tutorial

Michigan Wage Garnishment

Federal garnishment rules apply

Disclaimer: the Michigan debt collection information provided above is for quick reference only, may not be 100% accurate or up to date with Michigan’s state laws for collecting debts, and is not intended to replace competent and thorough legal advice for collecting debts in Michigan 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.

Don’t Wait Too Long to Collect in Southfield, MI

Did you know that you only have four years before the statute of limitations runs out on the sale of goods in Michigan? If you’ve tried to collect on your own or been disappointed by the lack of urgency at your regular collection agency, this time limit could be running out. Don’t waste any more time on a collection agency. Instead, use the Stevens and Ricci firm for the fastest collection process available in the recovery industry. Our team of collection lawyers is ready to help!

Sterling Heights, Michigan Debt Collection Attorneys vs. Collection Agencies

An experienced debt collection attorney has many other advantages when compared to a collection agency. An attorney will consistently outperform a collection agent because they have the knowledge and the authority to implement collection strategies that aren’t available to the agent. The typical collection agent is restricted to voice mail while the collection attorney can obtain direct access to company owners and their agents. How can a collection agency compete with the tactics of your debtor’s legal team? At Stephens and Ricci, we will seek out the opposing counsel to take the negotiation process even further. The following sections provide more ways that a corporate debt attorney can help collect your corporate debts.

Business Sales in Warren, MI

When a debtor informs the collection agency that they have liquidated their company or sold it to another entity, the agent won’t know how to proceed. However, the Stephens and Ricci debt collection attorney will know exactly what to do. They can put pressure on the debtor or their representative to obtain a copy of the buy/sell agreement. In many cases, this document will reveal a reserve allowance or set-aside provision for any unsecured creditor who holds a balance during the transfer of ownership. The debtor’s lawyer would never release this information to a collection agency without a court order. Of course, they wouldn’t even know to ask.

Forbearance Agreements in Ann Arbor, Michigan

A forbearance agreement is one way that a debt collection attorney can help a debtor stay in business so that they can repay their debts. Many of our clients like this plan because it can help a long-time business associate out of a difficult, but temporary, position. It can also help a troubled business owner avoid a bankruptcy which could leave our client with no way to recover their debt. In this scenario, the Stevens and Ricci attorney drafts a legal document that all parties agree to. It prevents the other creditors from filing suit against the debtor for a set period of time. In most cases, all debts are paid, and the debtor remains a profitable customer.

Detroit, Michigan Case Study

Six years ago, a Michigan materials supplier gave Stevens and Ricci a call for help with collecting a $25,000 debt owned by a soil stabilization company. The soil company had paid their materials bill, but was disputing the sales tax that was owed. Their defense was that there was a defect in the materials that they had received and that there was a discrepancy in wording between the invoices and the credit application.

We were unable to recover the debt during the original collection effort and placed this account in the cold case file. Of course, we reported it to both of the major commercial credit bureaus before moving on to more pressing matters. Because this was a disputed account with strong contention points, we felt it was a wise move.

This past year, the debtor contacted our Detroit, MI office to find out why this item was on their credit report from six years ago. The employee that called was not familiar with the issues of the case.

When the attorney returned their call to explain the matter, they simply asked for proof that the sales tax was actually paid, a very different request than the one presented six years ago. Originally, the company wanted our client to completely absorb the sales tax as a discount for failing to fix the issue with the materials.

The debt was settled for $20,000 in exchange for clearing the item from the company’s credit report at both reporting bureaus. This six-year-old account was settled because of the professional manner of the debt collection attorney. The typical collection agency would have written this off as uncollectible and given the file back long ago.

If you are looking to collect on your past due account receivables from businesses based in Detroit, Grand Rapids, Warren, Sterling Heights, Lansing, Ann Arbor, Flint, Charter Township of Clinton, Dearborn, Livonia, or other cities in Michigan – Contact Stevens & Ricci at (888) 722-1611.

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