People in debt dread calls from collection agencies, and creditors hate that people in debt avoid their phone calls. If you find yourself in either of these situations, you may benefit from the help of an attorney.
A debt collection lawyer can represent you if you are a creditor or have debt problems. A lawyer can help you find strategies to recover the money you have lent or protect you from creditors who threaten to sue you.
If you have had a judgment in your favor and are to receive a certain amount as compensation, you can also contact this type of lawyer to help you with the recovery process. New York collection lawyer from Warner & Scheuerman Law Firm can help you in this process. Let’s see in more detail the lawyer’s role during the collection of debts.
Do you need an Accounts Collection Lawyer?
If you are in debt, there are some signs that you may need a debt collection attorney, including when creditors frequently call your home or workplace, you receive threats of a lawsuit from a creditor, or if you feel that you are being mistreated by collection agencies.
If you’re a creditor and the debtor isn’t paying what they owe you, an accounts recovery attorney can help you determine the best course of action to get your money back.
However, in some cases, the lawyer can refer his indebted client to the services of a trustee in bankruptcy, particularly if the debt is too great and the client does not have the means to repay it. A trustee will review the client’s financial situation and advise them of the options available for debt relief or elimination.
What does a Collection Lawyer do?
The first duty of an account collection lawyer is to meet with his client, discuss his situation with him and understand the goal he wants to achieve with legal representation.
As a creditor, a lawyer can help you put a plan in place to get back the money you lent or get you back the money owed to you for service rendered. If you go to court, the time and amount you get will depend on the judge’s decision. However, if you can resolve the situation out of court, you and the debtor can negotiate the terms.
As a debtor, you will face the same results, but instead of receiving money, you can expect to pay back the amount you owe or borrowed from the creditor, or possibly less if your lawyer is able to negotiate the amount down.
Either way, the matter should be resolved in the end, and neither side should ever have to deal with the other again. A debt collection attorney is the best defense against being taken advantage of, so if you think you can’t handle a creditor or debtor on your own, an attorney can help.
Take your time to find the best collection lawyer to handle your case. You can look at their portfolios to gauge their level of expertise.