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Los Angeles Business & Commercial Law Blog

Suing Over Unpaid Debt

Commercial debt collection refers to debts that one business owes to another. Often, this is a debt for a good or service that the purchaser never pays to the supplier. Business owners in Los Angeles are often focused on receiving prompt payment to avoid having to follow a debtor. And what is more, in many cases, the longer a debtor fails to pay, the less likely it is the business can collect on the debt. Business owners must often make difficult choices about how to collect on commercial debts as there is no perfect, low-cost method to collect on overdue commercial debts. While numerous attorneys practice consumer debt collection, very few lawyers in Los Angeles offer commercial debt collection services.

Judicial Tools Used in the Commercial Collections Process

Parties who are owed commercial (business) debt have several judicial tools that can be used both before bringing a lawsuit and after winning a lawsuit over the debt.

A party seeking to collect money owed but not yet paid from a commercial business may choose to settle outside of litigation or file a case in court. Settlement offers parties more flexibility to structure payments-or to pay less than what is owed-and is also cheaper overall. But for many parties that are owed money for a good or service (lenders or creditors, essentially), settlement is not an option. If that is the case, those parties will seek relief in court. With the help of a skilled attorney, a creditor can prevent assets from disappearing and collect on the debt once a judgment is issued.

What Is Commercial Collections of Secured Property?

The commercial collection of secured property is an effort to collect secured property that is at the heart of a commercial debt. The property may be the originating factor of the debt (such as a commercial vehicle) or it may be collateral used to secure a debt (such as a loan).

The Basics of Commercial Collections of Secured Debt

The commercial collection of secured debts involves collecting the collateral of a business that has defaulted on an agreement to pay for services or to pay back a loan. As a secured creditor, you have specific rights that enable you to collect the secured debt. Read on to learn about the basic options you have for commercial collections of secured debt.

Get Paid: Commercial Collections of Unsecured Property

It can be hard to collect on past due accounts, especially when you're dealing with the collection of unsecured property. Fortunately, creditors do have rights (as the right commercial collections attorney can attest)! However, it is important for you to remember that every commercial collections account is different. In other words, some procedures for collection may work in some instances and not others and adaptability and experience are key.

Commercial Collection of Unsecured Property: What Are My Options?

Unsecured property is something that a debtor makes payments on, but there's no collateral that secures the loan. This means that if the debtor stops paying, the creditor has nothing that they will receive as payment. What are your options for the commercial collection of unsecured property?

5 Things You Need to Know about Enforcement of Post-Judgment Rights and Remedies

If you're owed money by a debtor and you obtain a judgment against the debtor, your work isn't over just yet. You now must take the necessary steps to enforce the judgment so that you can collect the money that's owed to you. Here are 5 things you need to know about enforcement of post-judgment rights and remedies.

You've Got the Judgment - Now What?

You've gone to court and secured a judgment against the debtor. Now what? Now you must enforce the judgment. Debtors don't necessarily pay just because a judgment is issued against them. An aggressive commercial collections lawyer can help you with enforcement of judgment even if the debtor leaves the state. Consider the following and then talk with an attorney to determine which option is best for you.

Commercial Debt Collection: What Happens If You Can't Collect?

If you're trying to collect on a commercial debt, you may wonder what happens if you're unable to recover what is owed to you. How you'll handle the situation largely depends on the facts involved. Read on for some suggestions on what you may want to consider doing.

What Methods Can Be Used for Commercial Debt Collection?

When accounts go past due, your business suffers. If you are considering bringing in a commercial collections lawyer to help you recover money owed to you, you're probably curious about the methods that can be used for commercial debt collection. In this post, you will learn about some of the techniques employed by experienced collections attorneys. However, every past due account should be carefully considered to choose the most effective and cost-efficient approach to collect on it. After all, it's all about protecting your financial interest.

How Can We Assist You? Schedule A Consultation today.

Contact our commercial collections lawyers at our firm to discuss your and your clients' business, commercial collections and enforcement of judgements' issues. The skilled and experienced team of attorneys at our downtown Los Angeles law offices offers hourly and blended fees (discounted hourly plus partial contingent fee) to our clients.

Call us at 213-599-7004 today or fill out the form below to get started.

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