Knoxville Business Collections Attorney
Seeking payment from customers or clients is a frustrating experience. It costs businesses time and money, and at the end of the process there is no guarantee that you will be paid what you are owed. Some clients have no money, whereas others are committed to hiding their assets from you. Fortunately, legal help is available.
At Atkins Brezina, PLLC, our Knoxville business collections attorney understands the intricacies of the collection process in Tennessee. We can litigate a claim to judgment and then use different collection techniques, or we can help you understand non-litigation options for bringing your payment dispute to resolution. We bring dedication and an attention to detail to every collection case we pursue. Contact us today to get started.
How We Collect on Payments
Atkins Brezina, PLLC is well versed on all collection actions, including sending a demand letter to debtors or initiating litigation for the amount owed. We can help you choose between different options for collecting, such as:
- Installment plans
- Lump sum settlements
- Promissory notes
- Repossession of goods
- Taking possession of collateral or other security interests
- Garnishing wages
- Garnishing a bank account
- Recording a judgment lien on property
Each collection option has risks and advantages that we discuss with our clients. For example, settling for a lump sum typically means a business is not paid all that it is owed. However, this might be the sensible choice when a debtor has no assets and additional collection action would be fruitless. It is often better to get something than nothing.
By contrast, recording a lien might be the best choice if we suspect a debtor is preparing to declare bankruptcy. A properly recorded lien often survives the bankruptcy filing and preserves a right to payment once the debtor emerges from the bankruptcy process.
Laws Related to Debt Collection
Both Tennessee and the federal government have laws on the books designed to protect consumers. Our legal team is aware of them all. Some of the more relevant laws include:
- Debtors can eliminate most unsecured debts by filing for Chapter 7 bankruptcy. Once a debtor files, the automatic stay prevents creditors from contacting them or taking any other collection action. And if your debt is unsecured, it will be wiped.
- Statute of limitations. Tennessee requires that lawsuits for promissory notes and written contracts be brought within 6 years. After that date, the law prohibits collection.
- Fair Debt Collection Practices Act. This federal law prohibits contacting consumers at unusual hours or having any contact once a consumer states they are not paying a debt. Violations are costly.
An experienced collection attorney should know about these laws, which can affect the ability to obtain payment on debts owed. Any business attempting to collect a debt on its own runs the risk of financial penalty for violating one of these pro-debtor laws.
Speak with a Business Collections Attorney in Knoxville
Let Atkins Brezina, PLLC come up with a gameplan for collecting unpaid business debts. We provide collection services at a reasonable price. Contact our firm today to find out more.
