Skip to main content
site map
contact
home
linkdin
Commercial Collections and Bankruptcy

Commercial debt recovery tends to be solely about speed and intensity.  Unless there is a special arrangement with a customer, 60 days means that there is a serious problem, 90 days indicates that aggressive action needs to be taken to change the customer's payment practices and 120 days signifies that it's time for formal proceedings.  More often than not if 120 days passes you can be all but certain that the customer has no intention of paying what it owes absent being compelled to by formal proceedings or an immediate need for more of what the vendor sells. 

Further, the commencement of formal proceedings itself is only a half measure.  Many debtor businesses view the commencement of formal proceedings as an opportunity for months or years of additional stalling and stone-walling.  For example, in a litigation scenario, the filing of a lawsuit should be accompanied by an Application for Writ of Attachment that will be heard by the court within 30 days, the granting of which will essentially lock down the debtor's ability to conduct business and deeply embarrass the business to its customers and clients, making quick resolution likely.  Should the debtor business be truly unable to meet its obligations, the attachment lien will often place the creditor business ahead of other competing creditors for payment.

Notwithstanding the above, collection of business debt starts with proper transaction documentation, affording an enterprise the ability to exercise some control over the legal venue and method to be utilized, cost and amount of time required for recovery.  Being without the capability to exert influence over the collection process will, with great frequency, result in a scenario where substantial attorneys fees and related expenses are incurred, enormous amounts of time are taken away from tending to core business responsibilities, and two or more years may pass before recovery of the sums due the business.  Further, depending in what country venue lies, without proper transaction documentation, the capacity to recoup the attorneys fees and expenses paid to recover the amounts owed may be extinguished.

Proper and appropriate for the situation commercial documentation can reduce the collection adjudication process to ninety days or less, dramatically lessen the expenses involved, and result in the recovery of monies expended to effectuate the collection.

In the event a collection matter finds itself in bankruptcy court, Spector & Bennett has substantial experience and an impressive record in recovering its clients' money in that forum.  Many of the largest recoveries Spector & Bennett has obtained for its clients have come through immediate, aggressive pursuit of funds after a bankruptcy filing.

LEGAL DISCLAIMER
COPYRIGHT NOTICE
LEGAL DISCLAIMER

50 California Street, 15th Floor     1800 Century Park East, Suite 600
San Francisco, CA 94111                             Los Angeles, CA 90067
Telephone: (415) 384-8047                  Telephone: (310) 789-5845
Telefax:      (415) 707-2064                  Telefax:     (310) 496-0887

        

       /  disclaimer  /   copyright  /

  California debt collection attorney   Los Angeles collection attorney San Francisco Collection Attorney San Francisco collections attorney   San Francisco debt collection attorney   Los Angeles collections attorney   Los Angeles debt collection attorney   California collections lawyer   California debt collection lawyer   San Francisco collections lawyer   San Francisco debt collection lawyer   Los Angeles collections lawyer   Los Angeles debt collection lawyer International collections attorney   International debt collection attorney   International collectionCalifornia collections attorney s lawyer   International debt collection lawyer

Design Your Own Website, Today!
iBuilt Design Software
Give it a try for Free