What Does a Debt Collection Attorney Do?
While doing business, there is always a chance that it will be necessary to collect a debt through Court action. A debt collection lawyer is able to represent you if you’re a creditor or a debtor. He can help you to determine which legal strategies will be most effective in your case. Also, his role is to either help you to get back money that you’ve loaned out or to protect yourself from overeager creditors. Your attorney can handle paperwork for you or represent you in court.
How Do I Know If I Need a Debt Collection Attorney?
Some signs that you may need a debt collection attorney:
– creditors frequently calling your home or workplace – If you’re getting a lot of calls and can’t stop them, it might be time to bring in a debt collection attorney who can discuss your rights and speak to the creditors who are contacting you;
– an inability to pay back loans at the present time;
– threat of lawsuit from a creditor;
– your creditor has repossessed your car and might be threatening you with a collection suit;
– debt collectors are treating you in a way that you feel is abusive.
What Should I Expect When Working with a Debt Collection Attorney?
If you are a creditor, a debt collection lawyer can help you figure out a plan in order to gain back the money you loaned out. If you go to court, the time frame and the amount you get will depend on the judge’s ruling. If you’re able to settle outside of court, you and the debtor will be able to negotiate terms.
As a debtor you face the same outcomes, but instead of receiving any money, you can expect to return the amount of money that you borrowed or possibly less if your debt collection attorney can negotiate the amount down.
In any case, the matter should be resolved in the end and neither side should have to bother the other again. A debt collection attorney is the best defense from being taken advantage of, so if you feel that you can’t handle either a creditor or a debtor on your own, a debt collection lawyer will be able to help you.
Ways of debt collection
1. Amicably: It is done by contacting the debtor by telephone or in writing; by compiling, transmitting and recording the payment commitments assumed by the debtors until the debt is extinguished in full.
2. By court: It is done through the action of the debtor in court, in order to recover the debt. A debt collection lawyer can help you with: developing and transmitting legal actions against the debtor; your representation before the court; your representation in the appeal / appeal file
3. Through forced execution: It is accomplished by registering the enforcement request for the role of the court bailiff designated by the court and keeping in touch with him until the completion of the forced execution and recovery of the debt
4. Through insolvency proceedings: It is done through your representation at the creditors’ meetings and, if necessary, the contestation of the acts performed by the judicial administrator-liquidator, if they do not correspond to the legal provisions or do not lead to recovery of the debt from the debtor.
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