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Los Angeles Business & Commercial Law Blog

Motions to Amend and Commercial Collections

While most parties and their attorneys are usually confident they have sued the right party, and can enforce the judgment from that party, sometimes it can be difficult to determine which corporate entity is the correct defendant. Many companies are structured with various subsidiaries, so finding the actual company with the ability to pay can feel like a "shell game."

When Is It Time to Hire a Commercial Collections Lawyer?

If you've tried any of the other commercial collections tactics discussed in previous posts to collect on a past due account without success, it is time for you to consider other options. How do you know if you need a commercial collections lawyer? 

Collecting on Business Debts Through the Commercial Collections Process

Through the process of commercial collections, a business that does not receive payment for services or goods takes action to collect on unpaid accounts. The unpaid accounts belong to other businesses, hence the term "commercial collections". In this post, we're going to examine the basics of the collections process and what you need to know if your company is in this position.

Can Past Due Accounts Really Affect Your Business?

As one of the top commercial collections law firms in Los Angeles, we are constantly receiving phone calls and inquiries about our services. A common question we're asked pertains to past due accounts - can they really affect your business? The short answer is yes, which, as the creditor, we realize does not feel fair.

How Will Debtors Try To Protect Their Assets?

Many businesses do not realize the unfortunate reality that debtors have tools to keep at least some of their assets protected from collections. Many debtors, especially high-profile companies and individuals with high net worth, often rely on an approach called asset protection to shelter their most valuable assets from creditors.

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.

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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