In recent articles we’ve discussed alternatives available to you should you find yourself spending more time performing collections tasks than running your business. Among those alternatives is hiring a professional collections attorney.
Although many instinctively go to a collection agency first for help with collections, it is often the case that attorneys who specialize in debt collection (such as Jayaram Law) offer a greater benefit and effectiveness, especially if the debt is serious enough to warrant legal action.
Many believe that collection agency will be cost less than hiring an attorney. The truth is, that’s not always so.
The cost of collecting a debt depends on the scale and complexity of the collection effort, and in many cases it is much wiser and more cost effective to hire an attorney to send letters and perform other relevant communications, and then file a lawsuit if necessary.
A lawyer may charge an hourly fee, collect a percentage of the amount recovered, or both. If you decide to pursue the matter in court, your costs to the attorney will include court-related fees and other charges in relation to the lawsuit. This is a much less expensive scenario than going first to a collection agency and then having to hire an attorney should the matter be taken to court.
At the Jayaram Law, you don’t pay us anything unless you recover your debt (or a portion of it). We handle your collection matters on a contingency basis. In 2010, we collected over 90% of all money due and outstanding to our clients.
The Jayaram Law routinely and successfully assists its clients in their business-to-business (b2b) collection needs. We take pride in obtaining payment on accounts receivables without fracturing critical business relationships or engaging in time-consuming and costly litigation efforts.
If you need business debt collection services conducted in a professional manner, contact our B2B (business-to-business) debt collection law firm by calling 312.454.2859 or visiting www.jayaramlaw.com