In a troubling economic climate, collecting the debts owed to your business is more important than ever. If you are a lender or a supplier, it is wise to seek the counsel of an experienced attorney who can provide information about your options as a creditor.
The creditors' rights attorneys at Elliott Lawson & Minor P.C. have extensive experience representing financial institutions, businesses, credit unions, lenders and suppliers, in Northeast Tennessee and Southwest Virginia, as they seek to collect the debts that are owed to them. Even when a debtor seeks bankruptcy protection, the Bankruptcy Code still offers certain protections for creditors. We have a deep knowledge of these protections and creditors' rights. Our lawyers can examine your situation and provide legal advice and representation through any course of action you select.
Commercial Collections Attorneys
The process for collecting debts is fairly straightforward, but can be complicated by several factors. Typically, there are several steps that must be followed, including:
- Providing the proper notices under the Fair Debt Collection Practices Act
- Filing suit and serving that suit on the Defendant
- Obtaining a judgment for the balance due
- Collect that judgment via post-judgment proceedings such as garnishment or levy upon personal or real property
- And if the debtor files for bankruptcy, filing a proof of claim or seeking relief from the bankruptcy stay
Whether you are a lender who did not get paid back for a loan or a supplier who did not get paid for materials supplied or work performed, our firm can help.