The firm usually tries to open a file and to send written demand for payment within two business days, to establish contact with a Debtor by phone within fourteen days, and to make recommendations for further action within twenty-one days.  Failing resolution, the Firm usually makes recommendations concerning litigation. If litigation is recommended, the Firm’s goal is to get a lawsuit filed within sixty days of sending out the initial demand letter.  Approximately eighty percent of all lawsuits filed will end in settlement or judgment within four to six months of filing suit.  Less than five percent of lawsuits will still be in litigation beyond one year. 


Once the judgment is final and there is no settlement the real work begins.  The firm usually sends out a subpoena for the deposition of the judgment debtor or its officer/manager if the debtor is a legal entity.  Production of all financial records is also requested.  Many debtors ignore depositions and must be compelled by court order to attend their deposition.  Some debtors have to be sanctioned to get them to obey while a minority require appearance before the Judge before they can bring themselves to obey the subpoena.  Once a financial picture is obtained from sworn testimony and documents, recommendations for further action can be made, including: asking for a writ of execution to be prepared and delivering it to the Sheriff in order to levy upon and sell non-exempt real and/or personal property; filing a petition for writ of garnishment of bank accounts; moving for turnover of property and appointment of a receiver. 


Throughout the process the Firm uses a lot of public and private date and the resources of the firm’s licensed private investigator to facilitate key issues, including: current address/telephone information; the whereabouts of debtors who have moved or disappeared; determining whether the legal status of an entity has been compromised at any time such that the officers, directors and/or managers are jointly liable for the debt sued upon; locating information on the assets owned by debtors and any liens on the assets or security interests secured by any such assets; obtaining a financial picture of debtor without debtor’s assistance or cooperation; on site visits to determine whether a business is open, to obtain additional information only available by personal observation, and to speak with key personnel/debtors in person. 

THE COLLECTIONS PROCESS

323 W. Cano • Edinburg, Texas

(956) 316.0545

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