Stevens & Ricci Inc. provides Rhode Island Collection Attorneys and Rhode Island Lawyers for Business Debt Recovery

If your company in Rhode Island isn’t satisfied with the poor results that your current collection agency provides, consider using a debt collection attorney instead. The commercial debt collection firm of Stevens and Ricci can provide a 72% recovery rate to improve your cash flow. Compared to the much lower 28% rate delivered by the typical collection agency, our process can make a big difference in your past due accounts. Our collection process is much faster as well. In most cases, we only take 45 days to complete negotiations with your delinquent debtor. At times, it’s even faster. Call us for local Newport, RI, Providence, RI, or Warwick, RI business debt collection attorneys office today to get started!

Business Collection Attorneys in Rhode Island Rhode Island Debt Collection Attorneys - Business Debt Recovery - Flag map of Rhode Island

By combining collection and legal functions, Stevens and Ricci never misses a critical opportunity to collect on your behalf. Don’t miss your opportunity to have a debt collection attorney represent your interests on your next commercial debt recovery effort.

Newport, Rhode Island Collection Attorneys Succeed Where Others Fail

If your collection agency considers many of your past due accounts uncollectible, you’re in for a pleasant surprise with the Stevens and Ricci firm! A collection agency misses critical opportunities that we always use to their full advantage. Instead of wasting our time with missed calls and letters that end up in the trash can, we meet with your debtors and their agents in person when needed. Our support network includes private investigators and business collection attorneys in every state in the nation. When your debtor tries to simply avoid their debts, they will have nowhere to hide when Stevens and Ricci is handling their corporate account. Our firm concentrates solely on pre-litigation collection methods, but even the hint of legal action can make a big difference. This is because a conversation with an actual collection lawyer always makes a bigger impact than a call from a collection agent.

Rhode Island Debt Collection Laws and Limitations

Whether you’re considering a Rhode Island Collection Attorney or Rhode Island 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 Newport, Providence and Warwick. We have the ability to dispatch local private investigators from our Rhode Island 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.

Rhode Island Statute of Limitations on Debts

Oral Agreement: 10 years Written Contract: 10 years Promissory Note: 6 years Open-ended Accounts: 4 years Domestic Judgment: 20 years Foreign Judgment: 20 years

Rhode Island State Bad Check Laws

Felony: >$100 Misdemeanor: <$100 Service Fees: $25 Civil Penalties: Amount of check, $25 fee and treble damages up to $1,000. Criminal Penalties: Up to $500 fine, or up to one year imprisonment, or both. Up to $2,000 fine, or up to 2 years imprisonment, or both.

Rhode Island Free Sample Collection Letter

Check writer has this many days from date of check’s bouncing to make it good: *7 *Include this in your formal NSF Demand Letter. See sample collection letter: Free Bad Check Letter and Free Tutorial

Rhode Island Wage Garnishment

Up to 25% of weekly disposable income   Disclaimer: the Rhode Island debt collection information provided above is for quick reference only, may not be 100% accurate or up to date with Rhode Island’s state laws for collecting debts, and is not intended to replace competent and thorough legal advice for collecting debts in Rhode Island 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.

The Statute of Limitations in Rhode Island

In Rhode Island, the statute of limitations is actually pretty fair. In most cases, it gives you 10 full years to collect on a debt before your time runs out. However, if your client doesn’t want to pay now, why would you think that time will change their mind? Plus, you probably need this money now to pay your own debts. Because the Stevens and Ricci firm offers the fastest, most efficient collection process available, you can’t afford to try to collect these debts on your own or place them with a standard collection agency.

Newport, RI Debt Collection Attorneys vs. Collection Agencies

Not only will an experienced debt collection attorney save time for your Rhode Island company, they can also provide numerous other advantages when compared to hiring a standard collection agency. Not only will a Stevens and Ricci business debt collection attorney outperform a regular collection agency every time, we also have the knowledge and the authority to use collection techniques that just aren’t available to a collection agent. While your collection agent will typically get voice mail, a corporate debt recovery attorney will gain direct access to company owners and their agents. When the delinquent business owner obtains legal counsel, a collection agency will usually be forced to stop their collection efforts. In comparison, a business collection attorney welcomes this opportunity to actively seek out the opposing attorney. Continue reading to discover more ways that Stevens and Ricci can help collect your commercial debts.

Bounced Checks in Providence, RI

Don’t get so excited to see a payment come in that you accept a potentially bad check. Bounced checks will only add to your problem by adding fees and complicating the collection effort. When your debtor pays on their account with a low-numbered check, be very careful. You may even want to call the bank to verify that the funds are there. Low-numbered checks often indicate that the account is fairly new, and most bad checks are written before the account reaches the one-year point. If you are holding a bad check, never give it back to the debtor before they pay you in full with cash, a money order, or a cashier’s check. When you use the Stevens and Ricci firm for your collection effort, this is no longer a concern. We always collect the payments for you in secure funds before forwarding the payments to your company.

Getting Creative in Warwick, RI

Sometimes, the Stevens and Ricci firm has to use creative methods to collect your corporate debts. Our debt collection attorneys may work with a private investigator to speak to your debtor’s other business partners from financial institutions to suppliers. At times, the investigator may also examine public records or meet with the local district attorney before collecting on a judgment. Some of your debtors can be fairly good at avoiding our process servers. In these cases, our servers don’t mind using a disguise to gain entry. It’s curious how a process server in a suit is left standing outside while one in a delivery uniform can walk right in. In some cases, our collection lawyers will work with your debtor’s counsel to create billable time that can be charged to the debtor. This new debt can create a reason for settlement.

Rhode Island Case Study

Recently, our Rhode Island office received a call from a Portland medical equipment manufacturer. A small hospital and surgery center close by had purchased a significant amount of supplies from our client to start their practice. Their facility was custom-built by the landlord and leased to the debtor. Within a year, the surgery center shut down and the property reverted to the landlord. The office was soon re-leased to another medical practice, but our client was left with $46,000 in unpaid bills. The state Medicare proceeds and all other patient receivables were earmarked specifically for the secured creditors, which left our client in an uncertain position. The local debt collection attorney on our staff was familiar with the situation and began a deeper investigation. He discovered that the debtor was in the process of suing several third-parties for a substantial amount. If he won, the damages could possibly pay off his unsecured debts completely. To make sure that our client received payment, our collection lawyer knew that he must convince the other creditors to delay any further action against the debtor so that he could put his affairs in order. Our attorney drafted a forbearance agreement and convinced the other major creditors to agree to the delay. Due to the professional collection methods used by our debt collection attorney, our client received $35,000 as a settlement in full from the debtor’s lawsuit proceeds some months later.

© Copyright 2009 – 2015 Stevens & Ricci Inc. All Rights Reserved.

If you copy any content from this site a copyright infringement (DMCA) notice will be filed with Google and your Web Hosting Provider.