Should you hire debt collection attorneys to collect outstanding debts? A customer owes you money and can’t–or won’t–pay you. It’s the nightmare of every business owner. So, how do you get your money? Hire a debt collector? Hire a lawyer or law firm to collect your debts? Hiring debt collection attorneys isn’t necessarily a drastic thing to do. And, you’re more likely to get paid if you use a lawyer who is familiar with debt collection procedures.
Questions to Ask Debt Collection Attorneys Representing Your Company
Most importantly, before you select a lawyer out of the phone book or off the Internet, you need to have a good idea who is representing you. Furthermore, just as there are good companies and bad companies, there are good lawyers and bad lawyers when it comes to debt collection. So, ask the following to a potential debt collection attorney.
- Is the lawyer licensed for debt collection in the state you or your customer is in? First of all, some states require licensing for debt collection. Consequently, Georgia does not. However, you need to know if your state requires it and whether or not the lawyer you’re talking to can collect in that state.
- Do you charge for an initial consultation? Secondly, you need to know if the attorney you are consulting with charges for the initial consultation. Many lawyers do, so be sure to understand what the upfront costs are even before you hire the lawyer.
- How long has your practice been in business? In addition, it helps to have an established and reputable lawyer on your side. So, knowing how long the practice has been in business will help you determine if you want to hire them or not.
- How long has your practice handled debt collection? Similarly, it’s important because law firms which have a proven track record can often streamline the collection process and get you your money faster.
- What is your success rate in collecting debts? A low success rate or debt collection attorneys unwilling to provide success rates may be a law firm you may wish to avoid.
- What size debt are you willing to collect? Another thing you need to know is what size debts the firm is willing to collect on. Not all debt collection attorneys will take small debts. So, it’s important to ask.
- What kinds of debt collection do you handle? Most importantly, you need to know that this firm can handle your unpaid debts. Consequently, not all debt collection is the same and may be regulated by certain laws.
- What avenues are open to me to pursue this debt? Furthermore, you have different avenues to pursue the debt in collections. So, it’s important to understand what actions you may take.
- How much will this cost me? Especially relevant is knowing whether the debt collection attorney takes a flat fee or a percentage. As a result, it helps determine how much you’re going to outlay.
- What fees will I have to pay if you don’t win the case? Finally, you may have to pay not only your attorneys’ fees but also court costs and additional expenses.However, some lawyers will waive their own attorney’s fees if they do not win your case.
Howe & Associates Can Help You Collect Unpaid Debts
So, if you have outstanding debt that you need to collect, debt collection attorneys may be able to help. Contact us for more information. And, get a free consultation with a debt collection attorney at Howe & Associates,