A rebounding economy is a perfect opportunity to resurrect old debts. Dormant debt can often be brought in as profit — increasing revenues and enhancing the bottom line. Let us help you find that money.
Debt may become collectable after it is written off
1. TIME – This may be counter-intuitive, but occasionally the passage of time makes a debt more collectible rather than less. The debtor may be thriving now, willing and able to pay. The debtor may have merged or been acquired by another company liable and able to pay. The debtor may want to re-establish a business relationship with you, providing incentive for making good on the monies owed.
2. PROFESSIONALS – We are commercial debt collection attorneys. Debtors receive our calls, letters and correspondence differently than they receive yours. Letters and calls from attorneys are much less likely to be disregarded, and get the attention top management.
3. COST AVOIDANCE – Debtors with cash flow issues are less willing to spend money on legal fees. They are more likely to choose a deal than to hire legal counsel to represent them in defense of a lawsuit. And, by directly turning your collection matters over to an attorney, we can, when necessary, file a lawsuit timely and efficiently.
4. URGENCY – To get paid, your bill must move to the top of the debtor’s pile. An attorney adds urgency to your request for payment in the debtor’s mind. Once an attorney gets involved, the debtor must negotiate a payment plan, hire an attorney to defend a lawsuit, or face a lien and / or execution issued against them. We add efficiency and effectiveness to the process.
Of course, not all of your old debts are collectible — in fact, many may not be. But you have nothing to lose. Because we work on a contingency, we only get paid when we are successful.