Retail and Commercial Debt Collection

New York Attorneys Advocating for Creditors’ Rights

In a perfect world, all debtors would pay their obligations on time. Unfortunately, in the real world, many businesses and individuals do not live up to their agreements, financial or otherwise. Collecting past due debts from parties that become delinquent may sometimes consume a disproportionate amount of time and energy. If your business is struggling with the burdensome task of retail or commercial debt collection, the New York debt collection lawyers at The Nathanson Law Firm LLP can help.

By entrusting debt collection to a team of well-trained professionals, your business can focus on other matters, knowing that our firm will be putting our considerable experience, skill, and resources to work in an effort to locate the debtor, find the debtor’s assets, and collect money you are owed. It is important to note that professional debt collectors are bound by certain state and federal laws, including the Fair Debt Collection Practices Act, when attempting to collect retail debts from consumers such as overdue credit card payments, bad checks, debts for services, credit lines that have fallen into default, and debts for retail goods. In order to protect both our clients and our firm, we work hard to comply with all applicable debt collection laws. However, these restrictions do not apply to commercial claims (i.e. business-to-business).

Overcoming Challenges in Retail and Commercial Debt Collection

In addition to the collection of retail debt, our firm also offers assistance in the collection of commercial debt. Unlike retail debt, commercial debt typically takes the form of business-to-business debt. The collection of commercial debt is also regulated, although not as heavily. For example, the Fair Debt Collection Practices Act does not apply to commercial, business-to-business debt collection. This is largely due to the assumption that the parties to commercial debt transactions are more sophisticated than the debtors in consumer debt transactions.

The collection of both retail and commercial debts may involve a lengthy process that often include litigation and the enforcement of a judgment against the assets of the debtor, such as levying on a bank account, personal property like a vehicle, or real estate. Our firm uses modern, cutting-edge software to assist creditors in their efforts to locate debtors and their assets. We aim for maximum efficiency and productivity on each account. If a debt is not settled within a reasonable amount of time, we are prepared to proceed to litigation, which involves filing suit against the debtor, obtaining a judgment for the money owed, and ultimately enforcing that judgment by various means of execution.

Unfortunately, not every debt has the same likelihood of collection. In determining which collection efforts may be reasonable and appropriate, we use our resources to investigate the debtor’s assets, employment status, and in some cases other obligations, so that we do not waste time or money unnecessarily. For example, if we discover that the sole asset of an unemployed debtor is a home that is jointly owned with a spouse, encumbered by two mortgages, a tax lien, and a sizable judgment lien in favor of another creditor, we will be forthright concerning the chances of collecting in full, or even in part. If you still wish to proceed with litigation and obtain a judgment, we can help you in that regard; however, we would also understand a decision to “cut your losses” at that point. We always shoot straight with our clients, respecting a business decision not to throw good money after bad.

Contact a Knowledgeable Debt Collection Lawyer in New York or Nationwide

At The Nathanson Law Firm LLP, our experienced New York attorneys regularly represent clients across the country and work alongside attorneys from other states as they seek to locate debtors and execute upon assets in New York. To put our hardworking creditors’ rights lawyers on your side in a retail or commercial debt collection matter, call us at (516) 568-0000 or contact us online and ask for an appointment to discuss your situation. Based in Lynbrook, NY, on Long Island, we have several payment options available, depending on your circumstances. These options include not only fixed fee and hourly rates but also contingency fee agreements in many cases.