There is always a client who never pays in business, and businessmen have to chase them constantly. This could be a frustrating experience to go through. But the good news is that you can take legal help to get the money you owe. It would be best if you had an experienced Chicago debt collection attorney by your side. Not only will the attorney protect your rights, but they will try their best to recover your money.
When do you need a debt collection attorney?
- You might need to hire a debt collection attorney if you are tired of chasing the nonpaying client so long that you seek a legal judgment before getting your money back. Even though you can present yourself in court, having a professional at your disposal may increase your chances of getting a favorable outcome.
- Sometimes you need a case but do not necessarily plan on suing the other party. In that case, you need to hire a debt collection attorney to prepare demand letters. Demand letters are legal documents wherein you put your story and assure the nonpaying client that they will not bear legal consequences if they pay a certain amount. When the defaulters receive a notice like this, it compels them to pay to save themselves from getting in any legal trouble. A debt collection attorney will help you precisely with the preparation to write a legally sound demand letter.
- Debt collection experts highly suggest hiring a debt collection attorney if your client owes you at least $5000. Usually, an amount as significant as $5000 is big enough that going to a legal representative seems justifiable. Hiring an attorney will be the best decision in this case.
- If your nonpaying client is a large company, they probably have more resources to fight against anyone who compels them to repay their debts. Debt collection attorneys are well-versed with the mechanism of large companies in the legal space and thus, can be of great help with corporate debts.
- Several collection agencies provide consultations on collecting your debt; however, these agencies are not eligible to provide legal advice or file lawsuits. Only a debt collection attorney and a lawyer are qualified to do so.
While hiring a debt collection attorney, have a meeting and ask relevant questions to know the person better and if they will handle your case properly. Always have their fees and other details in writing for later use.