Go Into Each Loan Fully Prepared
In most instances, we don’t have the luxury of talking to our clients before they need our services or before they extend credit to someone. We advise our clients that when possible, it is best to consult with an attorney before extending credit, and if they can’t consult with an attorney, it is best to obtain as much information as possible about the person and/or business before you extend credit. More information about the person or company will not only help you decide if you want to extend credit but it will also help you understand your risks. You can then consider ways to potentially mitigate your risk and if your customer does fail to repay the debt, the information you’ve gathered will help you and your attorney maximize your recovery.
It is not uncommon for attorneys to meet with a client for the first time with the client believing he or she was protected because the debtor signed a secured note only to discover in a bankruptcy that the customer was not a corporation at all, but a person doing business as a corporation, and the bankruptcy court determined the interest was not perfected.
Discuss your unique needs with a dedicated member of our firm. Call or email us to schedule an appointment.
We are a collections law firm facilitating both commercial and consumer collections. We do not help people file for bankruptcy relief under the Bankruptcy Code.