Oklahoma Collection Attorneys and Business Debt Recovery Lawyers Help You Collect Past Due Account Receivables
Whether you’re considering a Oklahoma Collection Attorney or Oklahoma 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 Broken Arrow, Edmond, Oklahoma City and Tulsa. We have the ability to dispatch local private investigators from our Oklahoma 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.
If you’ve been less than impressed with the results that your Oklahoma collection agent has been providing, take advantage of the corporate debt recovery legal team at Stevens and Ricci. Our commercial debt recovery attorneys deliver an aggressive 72% recovery rate compared to the average 28% rate that most collection agencies provide. Not only will we recover more of your debt, we’ll also collect it faster. In most cases, you’ll receive payment in 45 days or less. If your company is located near Tulsa, OK or Oklahoma City, give our offices a call to start the collection process.
Collection Attorneys in Oklahoma Succeed Where Others Fail
By taking advantage of critical opportunities that the collection agency misses, we succeed where they fail. Your collection agent will make a few phone calls, but give up when they don’t receive a positive response. Our debt collection lawyers actually track down the debtor, wherever they may be, to negotiate a payment plan. Our national support network includes private investigators and collection lawyers in every state. They will leave no stone unturned when pursuing your corporate debts. Our services are strictly pre-litigation, but your debtor doesn’t know that. One hint of a lawsuit, and they will take the negotiation process seriously. By combining the collections and legal functions into one streamlined team, the Stevens and Ricci firm leaves no opportunity out of the equation. Don’t miss your opportunity to have our team represent your next commercial claim in Broken Arrow, Oklahoma or Edmond, OK.
Oklahoma Debt Collection Laws and Limitations
Oklahoma Statute of Limitations on Debts
Oral Agreement: 3 years | Written Contract: 5 years | Promissory Note: 5 years | Open-ended Accounts: 3 years
Domestic Judgment: 5 years, renewable | Foreign Judgment: 5 years, renewable
Oklahoma State Bad Check Laws
Felony: >$50 | Misdemeanor: <$50 | Service Fees: $30
Civil Penalties: n/a
Criminal Penalties: Up to one year imprisonment or up to $1,000 fine or both. One to 10 years imprisonment or up to $5,000 fine.
Oklahoma Free Sample Collection Letter
Check writer has this many days from date of check’s bouncing to make it good: *5
*Include this in your formal NSF Demand Letter. See sample collection letter: Free Bad Check Letter and Free Tutorial
Oklahoma Wage Garnishment
Up to 25% of weekly disposable income
Disclaimer: the Oklahoma debt collection information provided above is for quick reference only, may not be 100% accurate or up to date with Oklahoma’s state laws for collecting debts, and is not intended to replace competent and thorough legal advice for collecting debts in Oklahoma 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 Count on Legal Protection for Oklahoma Creditors
In Oklahoma, you must collect your debts according to the state’s strict statute of limitations. This state has some of the lowest limits seen anywhere. In many cases, you may have as little as three years to collect your money, and you never have more than five. Even a court judgment expires in Oklahoma after five years. Don’t waste another second in Tulsa, OK by trying to collect your own commercial debts or contracting with a normal collection agency. Call our Oklahoma City offices to today to take advantage of the fastest possible collection methods.
Debt Collection Attorneys in Broken Arrow, Oklahoma vs. Collection Agencies
Using an experienced legal team to collect your commercial debts provides numerous advantages in addition to saving time. Our business collection attorneys have knowledge and authority that simply isn’t available to a standard collection agency. When the typical collection agent is screened using voice mail, a debt collection attorney can gain direct access to the owner or their agent. When a debtor obtains legal counsel, a collection agent must cease all collection efforts. Our business debt recovery lawyers welcomes this development and will actively seek out the opposing counsel for further negotiations. Continue reading to learn more about how a collection attorney can help recover your debts in Edmond, OK.
Forbearance Agreements in Oklahoma City
A forbearance agreement allows the Stevens and Ricci debt collection attorney to help your debtor stay in business so that they can repay their debts. After all, if they stop making money, how will they ever pay you? We prevent other creditors from filing lawsuits against your debtor to allow them to restructure their debt. In this situation, you not only help out a valuable customer, but you’ve also escalated your payment position while avoiding the courtroom. By creating a win-win situation, your delinquent debtor may go on to be a valued customer again in the future.
Unusual Strategies in Tulsa, Oklahoma
Sometimes, the legal team at Stevens and Ricci has to use a few unique strategies to recover your commercial debts. However, we always do whatever it takes to complete the job. Our team of private investigators may investigate the debtor’s other business partners including vendors, suppliers, or financial institutions. They may examine public records or meet with the district attorney before collecting a judgment. Our process servers have to be particularly crafty at times. Desperate debtors will go to any lengths to avoid receiving legal paperwork that means the collection process has entered a more serious phase. When required, our process servers will disguise themselves as a delivery driver or other service worker. This strategy often results in an open door. In extreme cases, we can even create billable time by working with the debtor’s counsel and use this as a new reason for settlement.
Edmond, Oklahoma Case Study
It’s a growing trend in the United States for companies and individuals to claim that they no longer owe a debt because they have either sold their business, merged with another company, or been acquired by another corporate entity. In most cases, provisions will have been made to pay any creditors, but the debtor isn’t always forthcoming with this information.
One of our clients, an office supply companies in Edmond, Oklahoma, had such a problem. A local printing company, ABC Printing, owed them a total of $72,000, but refused to pay the debt. They claimed that they sold the business to XYZ Printers before our client generated or sent the invoices to ABC. During the sale process, our client was never notified of the transaction.
At this point, the average collection agency would consider the account uncollectible and close the case. However, that’s not the standard operating procedure at Stevens and Ricci. Our collection attorney was able to obtain a copy of the buy/sell agreement for further analysis. After looking over this legal document, we found that it included a set-aside provision and a reserve allowance to pay unsecured creditors like our client who hold an open balance during the transaction. By enforcing this provision, we were able to force the debtor to pay our client’s invoices in full.
The average collection agent would not be able to obtain a copy of the buy/sell agreement even if they were aware that such a document existed. The legal offices of the debtor’s counsel would never even discuss the matter with a mere collection agent. By using a commercial debt recovery lawyer instead, our client avoided losing a substantial amount of money.
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