Commercial Debt Collection Attorney
Save time. Save headaches. The process of collecting a commercial debt is one that is technical and can require wading through a large number of applicable laws and technical processes. Whether collecting a debt for the sale of goods, a lease agreement, or for services rendered, the process often involves multiple, competing interests and can be one that requires as much technical knowledge as it does grit and determination.
For most businesses, that reality simply makes the collection of a commercial debt too time-consuming and logistically difficult. That’s where Joshua P. Friedman and Associates enters the picture and with our highly experienced, knowledgeable and dedicated team handling your collection effort, you can rest easy knowing that your debt will be recovered while you focus your attention on building your business and developing new client relationships.
Our Focus In Commercial Debt Collections
Our first goal in any commercial debt collection process is always an amicable resolution. In our many years of experience in the collection process, we have found that giving debtors a final chance to pay before resorting to other measures is usually best for all interested parties. Should a debtor choose not to take advantage of that generosity, we are fully equipped and ready to exhaust all legal avenues to collect your debt.
Our team of experienced commercial debt collectors is knowledgeable of all relevant, applicable laws and processes for collecting any debt of any size. We are familiar with UCC guidelines and our ability to combine in-depth legal research and asset-liability analysis means that we can quickly and accurately analyze your case to determine if a lawsuit is the best method to collect. Upon determining the proper course of action, our team can construct a plan for collecting your debts that takes into account your need to collect while remembering that any legal action only lengthens the process and costs more money.
Speak To An Attorney About Your Options
While every case is different and no single remedy for commercial debt collection will work for each individual client, we are confident that together, we can find a solution for collecting any and all outstanding debts.
We encourage you to contact our offices online or call 310-278-8600 to discuss your case and learn about any options you may have going forward in your commercial debt collection process.
Frequently Asked Questions
Below are answers to common questions about commercial debt collections. Understanding these distinctions can help you make the best choice for your business.
What is the difference between commercial debt collections and consumer debt collections?
Commercial debt collections, often referred to as B2B (business-to-business) collections, involve recovering unpaid debts between businesses. These cases are typically more complex due to the contractual nature of business transactions and often involve larger sums of money. In contrast, consumer debt collections deal with debts owed by individuals to businesses or service providers. The laws governing these collections differ; commercial collections frequently require adherence to specific regulations like the Uniform Commercial Code (UCC) and may involve more detailed legal processes, such as asset-liability analysis and business-specific contractual terms.
Why should I use a commercial debt collection attorney instead of a collection agency?
Using a commercial debt collection attorney provides several benefits over a collection agency:
- Legal authority: Attorneys can take formal legal action if needed, including filing lawsuits and obtaining court judgments. This authority is crucial for enforcing payment when debtors are uncooperative or when collection efforts by nonlegal means have failed.
- Specialized knowledge: Attorneys have in-depth knowledge of laws relevant to commercial collections, including the UCC and other industry-specific regulations. This helps ensure that all actions are compliant with legal standards and tailored to the specifics of the case.
- Strategic approach: An attorney can develop a detailed strategy based on a thorough analysis of the case. This includes deciding whether litigation is necessary or if other legal remedies are more appropriate, and how best to approach negotiation or settlement.
- Risk management: Attorneys help mitigate legal risks by making sure that all collection activities are conducted within the bounds of the law, reducing the chance of legal complications or counterclaims that could arise from improper collection practices.
- Effective negotiation: Attorneys are skilled negotiators who can leverage their legal skills to secure favorable terms or settlements, often achieving better results than collection agencies that may lack the same level of legal acumen.
Collection agencies typically employ nonlegal methods, such as contacting debtors by phone or mail, which may not be effective for more complex or high-value debts. At Joshua P. Friedman & Associates, Inc., we leverage our extensive legal experience and strategic approach to provide a more comprehensive and legally sound method for debt recovery, especially for complex or high-value debts.