Choosing Between a Collector and a Law Firm to Collect Debt in South Miami
You can hire either a debt collection company or a law firm to collect debt in South Miami. Both of these entities perform very similar roles in pursuing unpaid debts. The Fair Debt Collection Practices Act (FDCPA) regulates both of these resources as well. Nevertheless, the way that the agency or law firm will attempt debt collection varies greatly.
For this reason, if you experience debt collection issues, it remains important to consider the similarities and limitations that permeate either option. Before you turn over your accounts receivable division to either one, consider some of this vital information from the Law Offices of Paul A. Humbert, P.L.
The Total Balance
Many debt collection law firms require a minimum balance even to begin helping you collect debt in South Miami. Contrarily, debt collection companies commonly pursue and buy out even small debts as low as $30.
Debt collection lawyers will typically wield an entire staff of collection attorneys. These professionals work as a team to help companies collect their debts. Nonetheless, the debt collection attorneys may only represent a small portion of what the entire firm does.
The main way that a collection agency differs from a law firm concerns the legal ramifications of the actions that they can take. A debt collection agency will primarily attempt debt collection by maintaining continuous contact with the debtor to pay off all, or a portion of the debt they owe. This communication may take the form of letters or telephone calls.
While debt collection attorneys may utilize these aforementioned methods to collect debt in South Miami, they can take the situation a bit further. Debt collection firms will wield attorneys who possess the necessary education, experience, and credentials to bring the situation to the courtroom.
Lawyers can file the necessary paperwork, engaging legal services, so debtors understand a pending court date looms on the matter. These lawsuits frequently result in default judgments against a debtor. Once concluded, the lawyer can oversee case evolution with a judgment. This includes garnishing wages, lien placement, and collection of profits or recompense.
Speed and Efficiency
Speed and efficiency represent a critical aspect of deciding between an attorney and a collection agency. In numerous situations, debt collectors make the best attempts. However, they end up turning the case over to a law firm for legal backing and action. Debt collectors may additionally remain hesitant to turn the debt over despite an unlikelihood of success.
This is primarily due to a large fee they will pay to a debt collection firm. Unfortunately, this also means that the collector may possess inactive accounts for months and years with no success or any action whatsoever.
Contrarily, debt collection attorney may sue on an unpaid debt much faster. Therefore, they can often collect debt in South Miami with a swifter and greater rate of success than a debt collection agency.
When a debtor understands the limitations that a collections agency wields, they may feel unafraid of the potential consequences of their actions. With a lawyer, they will likely impart fear about being sued instead of ignoring communications entirely.
Collect Debt in South Miami with the Law Offices of Paul A. Humbert, P.L.
Before finalizing your decision, consider a discussion and consultation with a reputable debt collection agency. You should also think about a similar discussion with a debt collection law firm. This could help you establish the information you need for a fair comparison between these two providers.
Nevertheless, the amount of the total balance owed, in addition to the speed and efficacy you need will remain factors that will matter in the final decision.
Our firm at the Law Offices of Paul A. Humbert, P.L. works for many different plaintiffs and defendants in debt collection cases throughout the United States. Our experiences on each side of the litigating table grant us a unique, individual perspective of numerous different aspects in these matters. For this reason, we represent a crucial resource for entities that need professionalism and efficiency in debt collection.
Our attorneys represent individuals, small and mid-size businesses, as well as large corporations dealing with debt collection issues. We work to help clients overcome and mitigate potential debt collection issues on the course to success. To learn more about how our attorneys can help you collect debt in South Miami, contact the hardworking, dedicated attorneys from the Law Offices of Paul A. Humbert, P.L. to schedule a consultation.