When you get a judgment against the debtor, you are now in the position of being a judgment creditor. This gives you a lot more power, and you can do many things with the judgment. Read on to learn about some of the options a judgment creditor has.
Judgment Creditor Options
- File a wage garnishment.
First of all, the judgment creditor can garnish the debtors bank account, including the debtors accounts receivables. - File Post Judgment Interrogatories.
This requires the debtor to answer all asset questions under oath. These are very detailed request for documents, including copies of the last five years of their tax returns, bank account statements and account receivable documents. - Serve a notice of deposition.
This requires them to appear in our office for a deposition, where they will be required to answer under oath, about all their asset documents. We can then utilize all that information to assist in the collection process. - File a motion to compel.
If they do not respond to the Post Judgment Discovery, we can file a motion to compel, and the judge will compel the debtor to respond. - File a motion for contempt.
Finally, if the debtor ignores the motion to compel, a judgment creditor can file a motion for contempt. In addition, the judge can issue an incarceration order.
Howe & Associates Collect on Judgments
The judgment itself, serves as a lien against all of the debtor’s real property and personal property. So, we often times coordinate with the local county sheriffs office. Hence, we go out and conduct levy demands on the debtors property.
In order to collect on a judgment, our approach at Howe & Associates is to take a very aggressive stance in the post judgment area. And, one of the tools that we use is sophisticated bank account locators. These locators help us locate the debtors bank account for garnishment.
So, contact one of our attorneys at Howe & Associates today for more information on your judgment creditor debt collection options.
As a small business owner, you face many challenges that are unique to the way you do business. One of these challenges is how you collect debt. Collecting unpaid debt as a small business is incredibly difficult. Consumers may believe you don’t have the manpower or resources to take action against their delinquency. In many cases, they are right. When you hire debt collection attorneys, it may seem like too large of an expense when you look at the budget for your small business. But, we believe it is essential to the health of most small businesses, here’s why.
Debt collection attorneys have the resources and manpower needed to collect unpaid debt.
When small businesses involve debt collection attorneys in their collection efforts, consumers are much more likely to perceive that you are serious about collecting the money owed you. Additionally, these specialized lawyers have the resources and manpower needed to collect on unpaid debts.
They have expert knowledge of debt collection laws and best practices.
You became a small business owner because you are an expert in your industry. However, when it comes to debt collection you may still have a lot to learn. When you partner with a debt collection attorney, you can rely on their expert knowledge. They have obtained knowledge through years of collecting unpaid debt and studying law.
Debt collection attorneys elevate debt collection beyond typical practices.
As a small business owner, there is only so much you can do to collect debt. If you hire debt collection attorneys, they are able to employ wage garnishment, foreclosure or even levying of the debtor’s bank account.
If you are a small business owner and you are struggling to collect on unpaid debt, call 678-566-6800 to speak with one of the experience lawyers at Howe & Associates Debt Collection Attorneys.
It isn’t always possible to avoid working with customers who do not pay their invoices on time. Some customers allow their bills to go into collections. However, in some cases there are bookkeeping practices for small businesses that can decrease the chances of invoices going unpaid and the need to work with a debt collection agency.
Accurate and organized bookkeeping is essential to every businesses. It does not matter the size of your customer base or how much revenue your product or service generates each month. At Howe & Associates Debt Collection Law, we want to help you create habits that will get you paid on time. Continue reading for 3 bookkeeping practices for small businesses.
#1. Keep Daily Records of Sales and Expenses
If you are a small business, it may seem unnecessary to balance your daily sales and expenses every single day. However, daily updated records are important to a well balanced budget. And most importantly, they help you to spot red flags such as unpaid invoices before they become a serious problem.
#2. Pay Your Bills in Full and On Time
Another of the bookkeeping practices for small businesses that you should practice is prompt payment of your own invoices. If you are expecting your customers to pay their invoices on time, it is important that you practice what you preach. Consequently, a clean credit may be important if you have to move forward with a judgement to collect on unpaid debts.
#3. Follow Up on Invoices Before They Are Overdue
While some businesses wait to contact customers until their bills are overdue, it is best to follow up before the bill is late. This could mean sending a second invoice or making a friendly call to check in with your client.
Even when you put these bookkeeping practices for small businesses in place, you will likely experience the unpleasant job of collecting on unpaid debts. If normal efforts to obtain payment have not been enough, it may be time to hire a debt collection attorney. To learn more about working with Howe & Associates Debt Collection Attorneys, click here or call 678-566-6800 to schedule a visit with one of our experienced debt collection professionals.
When a consumer owes you money, you must make efforts to collect the debt within a reasonable amount of time. Debt collection can be slow and frustrating. In addition, if you fail to do your part to make collection in a timely manner, you may lose your chance to collect altogether. Time-barred debts are debts that require the lender to sue within the statute of limitations determined by the laws in your state.
Types of Time-Barred Debts
Many different kinds of debt fall under a statute of limitations. However, depending on the type of debt, the rules may vary greatly. A closed-end credit, or a single credit transaction like a house loan or a car loan, typically have a strict statute of limitations. This limitation is directly related to the date on the original promissory note. In comparison, and open-end credit, or a loan with multiple transactions, like a credit card, may not have a strict statute of limitations because of the flexible nature of the account.
Determining the Statute of Limitations
The statute of limitations on time-barred debts is based on when payment of the debt was due. So, for most debts this is based on the due date of the first payment. And, the statute of limitations is different in every state. In Georgia, the statute of limitations is 6 years for a written contract.
Suing for Unpaid Debt
If conventional collection methods haven’t worked, you may need to hire a collection attorney. The attorney can help you pursue a debt collection lawsuit. Most importantly, an experienced lawyer can work quickly to collect on time-barred debts. And this helps you avoid the risk of missing your chance to collect within the statute of limitations.
The lawyers at Howe & Associates Debt Collection Attorneys have experience collecting unpaid debt. Click here or call 678-566-6800 to learn more.
We covered the importance of a credit application in a previous article that can be found at Debt Collection Starts on the Front End.
There are other documents that you should make a part of your regular business process. Those include purchase orders, delivery tickets that the client signs upon delivery. Making your clients sign a document acknowledging delivery of the goods or services is a critical proof document that helps your case if it should go to trial.
The three things that we have to prove if the case goes to trial are :
1. Order
2. Delivery
3. Non-Payment
The three items above form what is known as as a prima facie case (Source: Wikipedia) for a debt collection action. In other words, this defines evidence that, unless rebutted, would be sufficient to prove the case in favor of the creditor. We will use the documents you provide and our witnesses to prove those three items at trial.
The good news is that most cases do not actually go to trial, but we always prepare for trial from the start in order to bring the full force of the law to bear, for our clients.