If you are considering West Virginia Collection Attorneys or West Virginia Collection Agency to help collect your past-due receivables, we’d like to offer guidelines and suggested options to help. Stevens & Ricci offers both collection agency and collection attorney services with affiliate office in Charleston. We have the ability to dispatch local private investigators from our West Virginia location 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 aren’t happy with the results that the typical collection agency in Charleston, West Virginia is providing, consider switching to a debt collection attorney. If your agency is like most, they’re only providing you with about a 28% recovery rate. In comparison, the corporate debt recovery firm of Stevens and Ricci delivers a 72% success rate, and we can collect on most accounts within 45 days. Local West Virginia Collection Attorneys office near Charleston, WV.
Call us today to start the collection process.
Charleston, West Virginia Collection Attorneys Succeed Where Others Fail
Don’t let your collection agency’s opinion stop you from recovering debts that they failed to collect. In many cases, the Stevens and Ricci firm can take advantage of critical opportunities that your collection agency missed. The typical collection agency will give up when they don’t get a positive response to their phone calls and letters. In contrast, the business collection lawyers at Stevens and Ricci will take steps to track down your debtors for face-to-face negotiations when necessary. Our national support network includes the very best collection lawyers and private investigators from each state in the Union. Don’t let your debtors continue to hide! By combining the collections and legal functions into a single team, the Stevens and Ricci group has created the most effective corporate debt recovery strategy possible. Don’t miss out on your opportunity to let us represent your interests when it comes to commercial claims.
West Virginia Statute of Limitations on Debts
Oral Agreement: 5 years
Written Contract: 10 years
Promissory Note: 6 years
Open-ended Accounts: 4 years
Domestic Judgment: 10 years
Foreign Judgment: 10 years
Service Fees: $10
Civil Penalties: $500 or the amount of check whichever is less, plus reasonable costs.
Criminal Penalties: Maximum fine of $100, up to 10 days in jail, or both. For obtaining property under $200 – maximum fine of $200, imprisonment up to six months, or both. For obtaining property over $200 – maximum fine of $500, imprisonment from one to five years, or both.
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
West Virginia Wage Garnishment
Disclaimer: the West Virginia debt collection information provided above is for quick reference only, may not be 100% accurate or up to date with West Virginia’s state laws for collecting debts, and is not intended to replace competent and thorough legal advice for collecting debts in West Virginia 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.
Be Careful When Accepting Checks in West Virginia
If you really need the positive cash flow that receiving payments on outstanding debts can create, let the Stevens and Ricci firm handle this for you! By doing so, you’ll eliminate the possibility of receiving a bad check as payment. Because many of your delinquent debtors may be having their own cash flow problems, this can easily happen by accident. If your debtor tells you upfront that it will be awhile before they can make their payment and offers a post-dated check, don’t take it. Accepting a future-dated check can mean that you have no legal remedy when the check bounces. Look out for checks with low numbers or no numbers at all. The checking account is probably brand new, and most bad checks are written on accounts that are less than a year old. If you do receive a check that bounces, hold onto it until the writer reimburses you in full for the face value of the check and any bad check fees that you incurred. Although you can only charge a $15 service fee in West Virginia on a bad check, one written for more than $500 is considered a felony. While you may not want to take a customer to criminal court, it is a powerful incentive for repayment.
Charleston, West Virginia Debt Collection Attorneys vs. Collection Agencies
In addition to protecting your company from bad checks, experienced business collection attorneys in West Virginia can add even more value to your collection process. Not only does the Stevens and Ricci firm outperform the standard collection agency every time, but we also have the authority and the knowledge to use recovery methods that aren’t available to an agency. Unlike the typical collection agent who works strictly from their office, our team of private investigators and corporate debt collection attorneys go out into the field to meet directly with your debtors and their representatives. If your debtor hires a legal team, it can stop a collection agency immediately. However, the Stevens and Ricci firm finds this development encouraging. We will actively seek out their attorney for more advanced negotiation meetings. Don’t miss your chance to use the most effective corporate debt recovery process available to its full advantage!
Getting Creative in Charleston, WV
At Stevens and Ricci, we will take unconventional measures to collect your commercial debts when needed. Our private investigators frequently visit local courthouses to examine legal documents or prepare for collecting a judgment. We may decide to talk to your debtor’s other business partners including their bank, their vendors, or their suppliers. If your debtor likes to hide from our process server, they will dress up as a delivery person to get past the closed door. When all else fails, our debt collection lawyers often work with the debtor’s legal team to create billable time. This new debt can restart the clock and serve as a new reason to settle a debt.
Aggressive Payment Plans in Charleston, West Virginia
In uncertain economic times, the collection industry usually sees more requests for extended payments than payments in full. While we are always willing to work with your debtors, this situation can lead to potential defaults down the road if they can’t maintain a payment schedule. Our business collection attorneys can turn this potential problem into a great opportunity. We will draft an aggressive payment plan to increase your chance of regular payments and increase your default security.
Your collection agency has probably stuck with verbal agreements when negotiating a payment plan with your debtors in the past. We never make this mistake. To fully protect your interests, our debt collection lawyers never miss a chance to formalize the extended payment terms.
To start, we add a Consent Judgment to the payment agreement. This handy little legal clause allows us to file for an immediate and automatic judgment against your past due debtor when they miss their first payment. You won’t have to go to court, pay any additional fees, or waste any time. By using Consent Judgments in our payment agreements, we have increased our recovery rates by 40%.
As a second step, we convince your debtor to sign a Personal Guaranty clause to take personal responsibility for the debt. If the corporation fails, you have no recourse without this signed statement. In most cases, your debtor will readily agree in return for the extended payment terms. `
As a final addition to the payment plan, we calculate a 1.5% per month interest rate. The debtors usually agree to this amount without any further negotiations. As a bonus to our clients, this interest usually pays for the majority of the collection costs. With this feature, you can take advantage of the best collection methods in the industry at a much lower cost than the less effective collection agencies.
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