Past-due accounts can disrupt your business and sometimes, in cases where the amount owed is substantial, it can even force your business to shut down. Trying to collect these past-due accounts are often times a painstaking process because you are at the mercy of the debtor. Demands and telephone calls can only do so much. The debtor decides when to pay you. If the debtor does not want to pay, you will not get your money.
The most effective way to maximize your recovery is to take advantage of the law and the court system to file a lawsuit against the debtor. Debtors most often respond to lawsuits because the law provides relief that, if used properly, will disrupt the debtor's business.
By filing the lawsuit, you have now turned the tables on the debtor and will force the debtor to make decisions. The debtor can pay you and avoid the costs in defending the lawsuit or the debtor can spend a substantial amount of time and money to defend the lawsuit. Regardless of which option the debtor chooses, decisions will have to be made and you become the one in control of the situation.
Through the years, the attorneys at Kenner Law Group have created a cost-effective and time-saving process to help you recover your money. The prejudgment writ of attachment is one of the remedies we use to help collect your money. It allows you to attach the assets of the debtor's business even before you have your court judgment. This is a powerful process that forces debtors to pay because the debtors cannot operate their business without their assets.
If you past-due accounts, it is important that you take prompt action to collect the debt. The longer you wait, the more difficult it becomes to collect the debt. If you have past-due accounts and need help collecting them, contact our commercial collections attorneys at Kenner Law Group for a free consultation.