Collections is not a simple task. Even after going through the phone calls, letters, arguments, and negotiations you may still end up in a position where you have not been paid and your last resort is going to court. Litigation as a means to collect can be an effective tool when you have an advocate that is experienced. Many business owners first thought is to go to their general counsel, however, AccountsReceivable.com explains why this may not be the best idea.
ORLANDO, Fla., May 17, 2019 /PRNewswire-PRWeb/ — When a company is forced to file a lawsuit to collect the funds that are owed to them their first choice is often to use theirs in house counsel or their general practice attorney. A lot of this decision is based on the comfortability and familiarity with working with someone they know. While general practice attorneys do have a purpose much like general practice doctors, engaging in litigation to collect a debt is a process that should be handled by a specialist.
Attorneys that practice solely in debt collections and commercial litigation hold an advantage over full-service attorneys in that they have much more experience in these particular cases. A full-service firm may only devote 10% of their time to collection files while the rest is split up between criminal, family and probate matters. When an attorney that specializes in collections receives a case from a collection agency, you will also be able to leverage the collection agency’s placement volume so that you can litigate on a contingency basis instead of paying $300.00 to $500.00 an hour to an attorney.
On top of the benefits in cost and experience, using a collection agency to litigate a case through affiliate counsel also ensures that the attorney handling your case is knowledgeable about the statutes, case law, and rules in the court where your case will be filed. The attorney will also have relationships built with the judges, court officers, process servers and marshals that will be important for your case to move quickly and effectively through the arduous court process.
In the end it really all comes down to experience. When you feel sick you see a full-service doctor, when you need heart surgery you see a cardiac surgeon. When it comes to filing a lawsuit having a specialist can be the difference between collecting your case and ending up with an expensive judgment that you can do nothing with.
AccountsReceivable.com works with a network of over 500 attorneys throughout the United States and all over the world. When a collection claim is recommended for litigation, AccountsReceivable.com will only utilize attorneys that are experienced and effective. In fact, every attorney AccountsReceivable.com utilizes has a professional service bond guaranteeing only the highest level of performance. AccountsReceivable.com can be reached online at – AccountsReceivable.com or by phone at (321) 233-4211.