A debt collection lawyer can help you solve the problem of uncollected debt. These highly specialized individuals can do wonders for your business and its delinquent accounts. That’s why it pays to do your homework before hiring a professional to assist you with debt collection. A little research can help you determine which lawyer is right for you.
Here’s a step-by-step guide to hiring a debt collection lawyer:
- Check online. The easiest way to learn more about a business and the services it provides is through the Internet. See if the debt collection lawyer you’re interested in has a website and carefully read through it to obtain the information that you need. Check out the company’s social media accounts and read online reviews posted by other clients of the lawyer for sound advice.
- Ask for a referral. If you can’t seem to find a debt collection company of your liking by doing some research, ask another business for a referral. Note what makes this particular lawyer effective. Call or email the debt collector and ask if there is a time that you can discuss your needs with them one-on-one. This will allow you to get a feel for the person and their approach to debt collection.
- Do some digging. It’s better to be safe than sorry. Check out the lawyer’s rating with the Better Business Bureau, see what other clients have to say about working with them, and don’t be afraid to ask for clarification on things you’re just not sure about. If the debt collection lawyer gives you a hassle for wanting to be informed, take your business somewhere else.
- Ask plenty of questions. It is very important to know how a lawyer works. You’ll want to know the hours of operations he or she keeps, what their approach is to delinquent accounts, their track record of successes, and also the fees that they charge. This will allow you to know whether or not the lawyer is the right person for your business to hire to take care of past due debt.
- Get it in writing. As with all legal transactions, get the lawyer to put everything down in a contract. Carefully read things over before signing it. You don’t want to be in a legal bind because you weren’t aware there were extra fees or terms and conditions to the agreement that you failed to take note of.
A debt collection lawyer can be a true asset to you and your company. In addition to collecting past due accounts, he or she can provide you with sound advice on how to proceed with delinquent accounts in the future. This can prevent large losses for your company going forward.
Although considered an additional expense, a good debt collection lawyer will serve as your greatest ally. Having their name on hand to call whenever you need assistance with a customer or client can make a real difference where the uncollected debt is concerned. You’ll collect more delinquent debt and have less bad debt to write off. This will also help you reestablish relationships with customers and clients that had difficulty paying off their bills because of an unforeseen event.