Massachusetts Commercial Debt Collection – Collecting on a Debt

By Massachusetts Commercial Debt Collection Attorney David Goldberg

Too often, businesses that are owed money are hesitant to hire a collections lawyer to collect a debt, because they do not want to incur any legal fees or expenses. But if they wait too long, they could end up with nothing.

Get more information regarding debt collections at the Framingham law firm of Goldberg & Oriel.

If a debtor owes “you” money, chances are they may owe others as well. Therefore, the first creditor who seeks payment by using the services of an experienced collection lawyer will certainly have a better chance of being paid, then a creditor who chooses to continue to send monthly invoices.

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Collecting A Debt in Massachusetts

By Attorney Chesley Oriel

Many times its a lot easier to obtain a Judgment than to collect on it. Unfortunately too many creditors find out after much time and expense that the debt they have sought to collect is not an easy task. However, had they been better prepared, they may have made it alot easier and have given their Lawyer a better chance of collecting the money that is owed.

Learn more at the Framingham debt collections attorneys.

When a Lawyer files suit to collect a debt, it always gives the Plaintiff (creditor) the advantage if the Lawyer can obtain either a bank account attachment, a real estate attachment, or some other “pre-judgment” attachment that will assure the Plaintiff (creditor) that if a Judgment is entered in their favor, that there is some asset to levy (seize) upon to satisfy the Judgment. Therefore, it is always important to make copies of checks that are received from businesses you are dealing with. A copy of the check can be given to your Lawyer, and depending upon the State you are in, the Lawyer may be able to obtain a Court ordered attachment of the bank account. If the Debtor owns real estate, the Court may be able to order an attachment of the real estate.

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Business Litigation Can Be Expensive

By Attorney Chesley Oriel, Greater Boston Business Lawyer

Unfortunately getting involved in business litigation can be expensive. Many lawsuits take a year or more to get resolved. It is important to be aware of the wear and tear on the litigants, including the legal fees and other expenses associated with a lawsuit–court filing fees; sheriff/constable fees; depositions; investigators if necessary. All of those expenses get paid out usually before either the Plaintiff (party suing) or the Defendant (party being sued) recover any money they are seeking.

Just because a party is being sued, does not mean that the party cannot turn the tables and countersue the Plaintiff.

We do everything we can to try and avoid having our clients involved in litigation, because usually the only “parties” who make out well, are the Lawyers. However, sometimes parties are stubborn or want to make a point on “principle” and rather than resolve a matter on a reasonable basis, insist on litigating. We try to be as informative as possible regarding our clients chances of being successful, be they Plaintiff or Defendant. Getting involved in litigation should be everyone’s last resort.

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