Commercial Debt Recovery Attorneys in Texas Make a Difference
A business debt collection attorney in Dallas, Ft Worth, Houston, or San Antonio will make all the difference in your corporate debt collection efforts. Instead of stopping at a few unreturned phone calls, the Stevens and Ricci Texas Corporate Debt Collection Attorneys take advantage of every possible opportunity to collect your commercial debt. They have access to our negotiators and commercial debt collection experts that includes both collection lawyers in other cities and states as well as a team of professional private investigators. There will be no place for your debtor to hide when a collection lawyer is on the case. Although Stevens and Ricci’s collection lawyers in Texas concentrate on pre-litigation collection methods for more affordable options, just a hint of a lawsuit will make many stubborn debtors change their minds. Because Stevens and Ricci’s approach to business debt collection combines the expertise of collection and legal experts, no opportunity for recovery is missed. Call our Houston or Dallas offices 888-722-1611 for assistance with collecting commercial debts.
Will the Texas Debtor Laws Protect Your Interests?
If you’re running out of time according to the Texas statute of limitations, you will not be able to rely on the legal system to protect your interests. Regardless of the type of debt, you will be forced to either forgive the debt or file suit after four years. Even if you receive a judgment in your favor, collecting on it can be a problem. Texas has some of the most generous bankruptcy laws in the nation. While other states put a dollar limit on a homestead exemption, Texas puts a size on this protective feature. If a business homestead is established, everything that your debtor can include on one acre is protected from creditors. To make things even harder, the total of one acre can be spread over several properties as long as the total land mass is less than or equal to a single acre. An experienced collection attorney will make every attempt to collect your debt before it gets to the critical courtroom stage.
Texas Corporate Debt Collection Attorneys
Whether you’re considering a Texas Collection Attorney or Texas Collection Agency to help collect past due receivables, Stevens & Ricci offers both collection attorney and collection agency services with affiliate offices in Dallas, Ft Worth, Houston, Austin, and San Antonio. We have the capability to dispatch a local private investigator(s) in Texas to the debtor’s place of business to aid our legal personnel and/or collectors identify assets and make our presence felt to help get your payment(s) quickly.
Read more about Texas Debt Collection Laws and Limitations.
A Texas Collection Lawyer Outperforms a Collection Agency
When you hire the services of the business debt collection firm of Stevens and Ricci, you’ll experience many advantages in addition to saving time. Our Texas Corporate Debt Collection Attorneys have the experience, knowledge, and authority to develop collection strategies that the typical collection agency would never be able to carry out. Instead of waiting for the debtor to call us back, we will gain direct access to the owner or his agent for direct negotiations. If the debtor hires their own attorney, most collection agencies will be forced to stop their collection effort. On the other hand, our collection attorneys actually welcome this development as a more advanced step in the corporate debt collection process. We will actively seek out the other party’s attorney to begin new negotiations. The advantages of using a collection attorney are virtually endless. Read through the following sections to learn more.
Current debts are often overlooked when a business is sold, merged, or liquidated. A standard collection agency would never know how to collect once the business is operating under a different name. However, the collection attorneys at Stevens and Ricci will put pressure on all involved parties to disclose any buy/sell agreements. In many cases, there are provisions that will pay unsecured creditors that hold a balance prior to the transaction. This information is rarely forthcoming and is usually only discovered through careful analysis.
Texas Corporate Debt Collection Attorneys – Pursuing Principals
Sometimes, a dishonest individual will form a company whose primary purpose is to shield their personal debts. They will form an illegal corporation that is used to acquire merchandise, materials, or services, and then either close or sell the business when the debts become overwhelming. By hiding behind a corporate veil, they place honest creditors in a poor negotiating position with no personal guarantor behind the debt. Stevens and Ricci business debt collection attorneys can use the theory of liability to pursue the principals for the debt. In other cases, a business owner may use personal checking accounts to pay corporate debts. The collection attorney can use the alter-ego theory to argue that the corporation was illegal and the debts are personally owed by the business owner.
Texas Case Study
In the current state of the economy, Texas is seeing more and more extended payment plans instead of full payments when accounts go into collection. At Stevens & Ricci, we turn this crisis into an opportunity to draft an aggressive agreement that increases our client’s opportunities of collecting timely payments instead of relying on a verbal payment plan.
Our commercial debt recovery attorneys will start the process by adding a consent judgment clause to the payment agreement. This allows us to transform a potential default into an automatic judgment against the debtor without the expense and time needed for a lawsuit. This strategy alone increases our payment rate by more than 40%.
Our next approach is to add a personal guaranty clause if one does not already exist. Usually, the debtor is willing to sign this agreement in exchange for extended terms. Finally, we add an interest rate to our notes at 1.5% per month. Usually, debtors don’t bother to question this number, and it can cover the vast majority of our client’s collection fees.
Call our Dallas or Houston offices for assistance or get started with commercial and business debt recovery!
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