New Hampshire Debt Collection Laws and Limitations
Whether you’re considering a New Hampshire Collection Attorney or New Hampshire 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 Chester, Concord, Exeter, Manchester, Newport, Portsmouth and Wilton. We have the ability to dispatch local private investigators from our New Hampshire 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.
New Hampshire Statute of Limitations on Debts
Oral Agreement: 3 years
Written Contract: 3 years
Promissory Note: 6 years
Open-ended Accounts: 3 years
Domestic Judgment: 20 years
Foreign Judgment: 20 years
New Hampshire State Bad Check Laws
Service Fees: $30
Civil Penalties: Amount due, interest, court costs, service costs, and collection costs. If judgment obtained and not paid, $10 per business day up to $500, plus reasonable attorney’s fees.
Criminal Penalties: Up to $200 fine or up to one year in jail, or both.
New Hampshire Free Sample Collection Letter
Check writer has this many days from date of check’s bouncing to make it good: *10
*Include this in your formal Nsf Demand Letter. See sample collection letter: Free Bad Check Letter and Free Tutorial
New Hampshire Wage Garnishment
Up to 25% of disposable income, writ must be renewed bi-weekly
Disclaimer: the New Hampshire debt collection information provided above is for quick reference only, may not be 100% accurate or up to date with New Hamshire’s state laws for collecting debts, and is not intended to replace competent and thorough legal advice for collecting debts in New Hampshire 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.
Debt Collection Attorneys in New Hampshire
If your New Hampshire company is not receiving the results that you were promised by your collection agency, it’s time to consider a change. Using a professional debt collection attorney with the Stevens and Ricci firm will make a significant difference to your cash flow. The 72% recovery rate delivered by our firm compares very favorably to the lower average rate of 28% that the standard collection agency offers. We can also recover your commercial debts in a shorter timeframe. In most cases, we can complete the collection process in 30 to 45 days, or even less! If your offices are located near Chester, NH or Wilton, NH, give us a call today to get the ball rolling!
Concord, New Hampshire Collection Attorneys Succeed Where Others Fail
When you contract with the Stevens and Ricci firm for your commercial debt collection needs, you get much more than promises. You will get results! Unlike your collection agency, we never miss a critical opportunity to collect your debt. While a collection agency will stick to phone calls and letters, our business debt attorneys are never stopped by a lack of response. When necessary, we will use our national support network of private investigators and collection attorneys in neighboring states to physically track down your debtor, no matter where they may be. Although the Stevens and Ricci collection method sticks to purely pre-litigation services, just the hint of legal action can make all the difference in the collection process. After all, a conversation with an actual attorney will always carry more weight that a call from a collection agency. By combining the collection and legal functions into one team, the Stevens and Ricci firm never misses a critical opportunity to recover a debt. Don’t miss your opportunity to use a professional debt collection attorney to represent your financial interests in Exeter, NH or Manchester, NH.
Don’t Waste Time in New Hampshire
Depending on the circumstances, you may only have three years to collect your debt in New Hampshire without going to court. Even if you obtain a judgment, this little piece of paper is no guarantee that you’ll ever receive the matching payment. In fact, the collection process can still be a long, frustrating process. Instead of wasting time and increasing your collection problems, allow the Stevens and Ricci to handle these matters for you. Our collection process offers the most efficient and timely recovery system in the collections industry.
Newport, New Hampshire Debt Collection Attorneys vs. Collection Agencies
The Stevens and Ricci firm can save your Portsmouth, New Hampshire business more than time. An experienced debt collection attorney can provide even more benefits when compared to hiring a standard collection agency. When your collection agency is just getting voice mail, our business debt collection lawyers will be meeting directly with the business owners and their agents. When your collection agency is stopped in their tracks by your debtor’s legal team, our commercial debt recovery attorney will be sitting down at the table for the formal negotiation process with the opposing counsel. Read more to discover additional ways that we can help you with your outstanding debts in Chester, NH or Manchester, NH.
Business Sales in Concord, New Hampshire or Exeter, New Hampshire
You might be surprised to know that most collection agencies will automatically designate an account as uncollectible when they’ve been informed of a business sale. However, the business debt collection attorneys at Stevens and Ricci know a little bit more about business sales, mergers, liquidations, and bankruptcies. We can pressure the owner or their representatives to supply a copy of the legal documents that are part of this type of transaction. In many cases, our analysis reveals a reserve allowance or set-aside clause that is specifically included to pay unsecured creditors who hold an open balance during this process.
Forbearance Agreements in Wilton, NH
Some debtors are truly in financial difficulty and would like to pay their debts if they only had the funds. If this appears to be a temporary situation, the debt collection attorneys at Stevens and Ricci can help them out. By drafting a forbearance agreement that prevents the other creditors from filing suit until they can get their financial house in order and begin repaying their debts, many of our clients finally receive payment in full. With this plan, everyone wins. Our client receives their money, the debtor can remain in business, and both parties often continue to do business together for years to come!
The Collections Game is Changing in New Hampshire
Due to the poor economy in New Hampshire and the rest of the nation, the collection industry is seeing more and more extended payment plans compared to payments in full. At Stevens and Ricci, we can turn this crisis into an opportunity. With a properly and aggressively drafted legal agreement, we can not only increase our client’s chances of receiving payments as promised, but add increased default security, too!
While the typical collection agency usually creates an informal payment plan through a set of verbal discussions, the Stevens and Ricci firm never makes this mistake. To give our clients the best chance of recovery on their commercial accounts, we never miss the opportunity to profit by these situations.
As a first step, we will add a Consent Judgment clause to the payment agreement. This allows us to ask for an automatic judgment against your debtor when the first payment is missed. This easy process doesn’t involve filing any additional paperwork, going to trial, or spending any more money. This strategy alone increases our payment percentage by more than 40%.
Next, we ask the principal to sign a Personal Guaranty clause. This assigns the debt to them personally in the even that the corporation fails. In most cases, they will sign in exchange for extended payment terms. By using a little psychology, we can usually convince the debtor to sign this agreement.
Our final method involves adding a 1.5% interest factor to our notes per month. Very rarely do debtors attempt to negotiate a lower rate. This covers virtually all of our fees so that you can often take advantage of the Stevens and Ricci collection method for next to nothing out of pocket.