Welcome

 

 

Credit collection is what is meant by Debt Recovery Law Firm. This is an organization that takes care of those unpaid accounts in a particular company may they be individual consumers or even businesses as well. Why do you think it is important that the company seeks for help in credit collections? How effective can they be? Let’s find out…

When Business and Law are Put Together

Business as it is intended to mean such provides products or certain services for its client. But once it is partnered with law, don’t you think it’s going to be much better?

When an organization is governed by law, it is more likely to have a strong foundation. It follows a certain path – legality. Is this what it’s like for Debt Recovery Law Firms?

business and law debt collection

Debt collection has served as partners by business owners in the hope of recovering payments from customers’ delinquent accounts. With law firms, one of the services they render is to advice clients about their legal rights and even represent them in court. Imagine when these two are put together. Well, a great team is indeed created and falls under the list of debt recovery law firms.

 

From a perspective probably by many, this would rather add the credibility of the firm to be able to assist clients more. This way, they too are able to provide legal advices. There’s more to a dead end story here if the customer refuses to make that payment.

 

What happens in normal circumstances or the usual collections agency practice is if the customer is unable to make amends, the story ends. There’s nothing more that the agency can do especially when there had been no collateral agreements at all. Even when the said agency tries hard, all they can do is refer the case to a higher level or leave it like that with a customer’s credit score ailing.

 

Debt is inevitable. Every single day, there would be those who would resort to loans, mortgage and other forms of debt. How they are paid would depend upon the debtors willingness to pay and how credible they are to make payments on time. Unavoidable circumstances may arise but aside from the first level of collections who are the financial team from the company itself, a business organization rather hires a partner in collecting debts for the task to be fulfilled in no time. This is better done than just leaving a debt case unattended. That’s a considered loss in the business.

 

Debt recovery law firms are able to take it to the next step when the initial deal with debtors are not resolved. It’s just as though sending over a technical case to a higher level of authority but within the same organization. The legal way is an option where debt is taken seriously.

 

Then again, having a debt is not a crime. To be unable to pay it is not yet even but when it becomes intentional, that is the time when matters become worse and there needs to be a third party organization to fix the matter.

 

It’s amazing though how innovative minds can be. For a case unsolved first hand, the firm will move on to legalities for the business’ benefit and eventually that of the debtor as well. All is well that ends well. It boils down to making the right choice. Failure isn’t a defeat at all especially in business. It’s a lesson learned.

The Firm in Action

Debt-Recovery

How do you think a debt recovery law firm gets into action? Do you think their job is easy considering the fact that what they have to do is just collect debts from clients? Let’s take a look at a scenario to get a clearer picture as to how they set off for a battle. Yeah, a battle with expected irate or emotional customers who are either going through tough times or touch times are getting them.

 

Let’s say Maria, a single mom, recently lost her job. She has bills to pay – phone, electricity, credit cards including rent and has a son to feed. Pretty tough. Maria though never missed deadlines before and has always been concerned about her credit reputation. But no matter how much she’d want ends to meet, she has to prioritize her son. She would miss phone calls from her telecommunications company. She hated her lines getting cut off but what choice does she have at the moment?

 

She could only afford food at the moment after doing a little bit of part time job at a nearby flower shop. She didn’t realize her phone bill, aside from it delinquent has now been forward to a debt recovery law firm. And although she knows she badly needs her phone to work, it’s impossible for her to pay a $350 bill today. So the firm gives her a call and luckily she was able to pick up. She felt so bad to receive calls from collections agencies but what could she do?

 

The firm then discusses the matter. Stressed Maria shares what happened and regretfully declines the request to make a payment. Debt recovery law firm will not just yet give up and make a deal with Maria knowing that if left delinquent will stain Maria’s good account standing with the Tele Communications company and of course, it will also be income to for the firm once customer is convinced. Options were given to Maria. Payment arrangements until the time the whole amount is paid and once it does in less than a month, the firm assured her that she can have her lines restored without any hassle at all. Do you think Maria agreed to the condition?

 

Debt recovery law firms are a well-trained bunch who may still provide chances depending on a situation. In Maria’s case, since it has only been 2 months delinquent and the customer is willing to pay, the condition was laid out and certainly the customer agreed. In worse cases if the customer insists of being unable to pay despite of terms, the firm is left helpless. The case will sometimes be declared closed or at times be given another chance for a call to convince the consumer.

 

At times it would look easy to handle accounts that seem lifeless because it has been unpaid for ages but firms can make a difference and help the business owner, the customer and itself. It probably just needs a very well trained staff to make sure every call will sound convincing.