Corren & Corren regularly represents both creditors and debtors in all sorts of collection matters. Whether it is a pre-litigation, litigation, or post judgment situation, we get involved in a multitude of collection cases both large and small. The most common types of debts we assist with usually involve real estate, businesses, vehicles, and credit cards.
Absent some sort of bankruptcy option, there are normally a few basic options available to all creditors and debtors:
- Do nothing;
- Litigate, and/or;
- Try to settle the dispute.
Our office can help you assess the strengths and weaknesses of these options, which option(s) makes the most sense, and the best manner in which to pursue your option(s).
Settlement of a collection case typically comes in one of three basic forms:
- Lump sum settlement;
- Monthly payment plan; and/or
- Down payment followed by a monthly payment plan.
When a creditor obtains a Court judgment against a debtor, there are multiple ways for the creditor to try and collect the judgment balance assuming the debtor is not willing or able to pay the judgment balance. Some of the most common judgment collection mechanisms include real property liens, personal property liens, bank levies, and wage garnishments.
If you are an individual or business involved in a collection matter, please contact our office for a free consultation.