Did your company lend someone money, and they haven’t paid you back within the agreed upon time? Did you borrow money and are still unable to pay it back? Whether you’re a creditor or a debtor, you can receive help from a collection attorney. Not sure how they can help? The following outlines what collection attorneys actually do.
- Represent Creditors
As a creditor, you can employ the assistance of a collection attorney to help you get the money back that you loaned out. There are different ways you can do this, and an attorney will speak with you to determine the best course of action. Is court the most profitable option? Can settling outside of court be more beneficial? Negotiating terms isn’t always easy, but with the help of an attorney, you can get it figured out.
- Represent Debtors
If you have a creditor coming after you full force, contacting an attorney could soften the punch. In many cases, you can expect to pay back the debt to some extent, but a collection attorney will work hard to get that amount as low as possible. In some cases, negotiation is possible, and in others you’ll end up in court. Either way, it’s important to have legal representation on your side. Your attorney can take care of the confusing paperwork and can handle rude creditors that won’t stop calling your home or place of work.
- Offer Understanding
With both experience and training under their belts, collection attorneys can strive to understand your situation, as well as how to proceed. They’ll know when you need to file litigation, how to collect on amounts due, what procedures need to happen and how the law works for your advantage.
Collection attorneys understand the best way to proceed against dishonest debtors. They know what to file when someone has misrepresented assets. They have the experience to help someone who may have honestly made a mistake. Nobody expects to find themselves fighting a legal battle, no matter which side of the battle they’re on, but debt happens and the proper party should get what they deserve.
Contacting an Attorney
For both creditors and debtors, collection attorneys are beneficial in a variety of ways. You should never have to fight a legal battle on your own, especially when you’re unsure how to proceed. For assistance with your case, find a stop home foreclosure lawyer in Memphis, TN who will work to negotiate your case or help you in court with the means necessary to win. Contact a collection attorney today to see what you need to do next.
Thanks to Darrell Castle & Associates, PLLC for their insight into bankruptcy law and collection attorneys.