The Benefits of a Florida Debt Collection Attorney
An effective collections lawyer based in the State of Florida is much better equipped in the process to reclaim an outstanding debt than that of a collections agency. Credit collections agencies can become hindered by an inability to proceed with the often necessary legal action, and are not outfitted with legal techniques that can be used in the aid of the creditor. An experienced and qualified collections attorney can utilize the proper legal channels to be effective in recovering debts that are owed to their clients while defending and representing their legal rights.
Statistically, a payment that hasn’t been received by a creditor within 90 days, a debtor will likely not pay the debt willingly. Some of the biggest and most experienced companies encounter these issues, and a debt collection lawsuit is often something that occurs quite frequently. The earliest possible intervention from a Florida area attorney is imperative for the highest chance of successful debt recovery in your case.
Florida Debt Collection
A Florida collections or civil suit lawyer can file a debt collection lawsuit against the debtor and engage in legal action in the defense of a credit. This is something that most collection agencies simply are unable to do, being hindered by their lack of legal resources and qualifications. With the protections and exemptions in place in place to protect debtors in Florida, filing a lawsuit is usually the most effective method of successful debt collection, often even being an inevitability. The primary objective of most debt collection cases in the State of Florida is ultimately to settle the matter either through payment of the debt, or possibly a debt collection judgment. From the beginning steps of filing a complaint with the Florida court to resolution, the value of consult and assistance of a Florida lawyer cannot be understated in these matters.
Debt Collection Settlement
A settlement is an agreement between a creditor and the debtor where the debtor agrees to repay a mutually beneficial percentage, or sometimes all of the debt owed to the creditor. The stipulations of these agreements generally include a payment plan with timing limitations in the terms. A settlement for debt collection is always prepared by a lawyer in writing and is signed by both concerned parties to signify the agreement.
The intervention of a debt collection lawyer aids in negotiation and will generally include a remedy in the composition of the settlement agreement in the event that the debtor does not honor their end of the deal. An example of this would be a Stipulation or Confession of Judgment. A Florida lawyer will have the debtor sign one of these legally binding documents to protect creditor rights by allowing a creditor to obtain a swift judgment in the case by default should the debtor not meet the terms of the settlement.
If a settlement is not reached, the next step is usually a trial in a Florida court to obtain a ruling judgment. The Clerk of Court will send out a notification to the debtor containing all information related to the progression of the case including that a judgment by verdict is being sought. If the debtor chooses not to respond to this notification, a qualified Florida lawyer will be able to obtain a judgment by default, essentially holding the same ramifications as a losing verdict with no defense. The majority of these types of cases that pass through the Florida court systems end in settlement, long before they ever reach the trial phase.
If a creditor is able to obtain a judgment against their debtor, a Florida collections attorney has the legal clout and resources to aid the enforcement of the collection activities post-judgment.
Enforcement of Judgments in Florida
Once a judgment has been obtained, the next step is to enforcement of the Florida judgment in reclaiming your debt. A Florida attorney that is familiar with these matters will begin the enforcement of judgment procedures by obtaining a Writ of Execution in the assessment of tangible property.
The liquidation of a debtor’s property can relate to a variety of different assets that can be considered tangible, but most commonly includes personal property and anything that can have an associated or attached value. Florida law even dictates that the creditor can seize the money in a debtor’s bank accounts for the partial or full satisfaction of the judgment.
Contacting a Florida Collections Attorney
The sheer amount of legal resources available in situations of this manner bolsters a collections lawyer’s ability to resolve the circumstances by obtaining a positive outcome for their client. Debt collection can be a difficult endeavor, and sometimes companies and business owners consider giving up on the matter entirely. The difficulty however, is no reason to forget the need to make your business financially again through the reclaiming of assets.
Many debtors want to pay but are simply unable to for a variety of reasons, but some skirt their financial obligations because they don’t feel that anything negative will happen to them. Facing time in a courtroom and sometimes more serious legal consequences can be a very strong motivator for debtors to pay up, and debts are sometimes resolved after merely sending a strongly worded letter on some legal stationery to help the debtor in understanding the grave nature of the situation.
Even if the enlistment of a debt collection agency is preferred, a legal consult is always recommended in these matter as a legal professional can offer advice on the proper course, and even offer free legal advice and consultation with the goal in mind of helping to a speedy and efficient resolution.