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Frequently Asked Questions

  1. When should I turn a claim over to your office?
  2. How do I submit a claim?
  3. What are my chances of recovering debt?
  4. Should I accept sporadic payments?
  5. What if I have a worthless check?
  6. How old is too old?
  7. How small is too small?
  8. What if you can’t recover before suit?
  9. What is a judgment?
  10. How will I know when or if you collect any money?
  1. When should I turn a claim over to your office?
    It depends. What are your terms for payment? Ordinarily, if payment is not made within your stated terms, then aggressive monitoring of the claim should begin. If the claim is greater than 60 days past due, you may have a serious problem on the horizon. Also, if a debtor breaks any promise to you, that’s a sure sign of trouble. Submit your claim immediately.

  2. How do I submit a claim?
    Submitting a claim has never been easier. Complete a short online placement form. Submit the claim via our website and you will receive an instant e-mail confirmation of its receipt by our office. Then mail, e-mail or fax us all supporting documents with a copy of the e-mail confirmation receipt. Of course you can also submit your claim via fax or regular mail by downloading the claim forwarding form (in pdf format) from our website, completing it, and then submitting it to our office via mail or fax. Once all documentation is received, we will send you a formal written acknowledgment of our acceptance of your claim by mail.

  3. What are my chances of recovering debt?
    There are several factors which influence the chances of recovery. These include the age of the account, the financial status of the debtor, whether or not you have the benefit of a personal guaranty or security interest, and your willingness to aggressively pursue the claim. While our firm has been successful in recovering claims that are several years old, typically the earlier a claim is placed with our office, the greater your chances of recovery. Also, the priority of your claim is usually determined by the date of your judgment. There is an old legal maxim: "First in time is first in right." Protect your rights. .

  4. Should we accept sporadic payments?
    Sporadic payments are usually an attempt to stall or delay. If the debtor commits to a repayment schedule and then breaks it, you are starting down the road of broken promises.

  5. What if we get a worthless check?
    Worthless checks are another huge warning sign. Make sure that you keep the original of the check unless the debtor is willing to pay the full balance including all statutory fees and costs. In Louisiana, you may sue to recover on a worthless check and statutory damages include treble damages (3 times the amount of the check) plus interest and attorneys fees. A $5000 check could potentially become a $20,000 judgment plus interest and attorneys fees.

  6. How old is too old?
    It depends upon the type of claim that you have. All actions are limited by a specific Statute of Limitations ( In other words - how long you have to bring a lawsuit). In Florida , most actions for recovery of a debt have a 4 or 5 year limitation; however, you must be careful because certain actions (i.e. suit to foreclose a construction lien) must be brought within 1 year. Don’t allow your claim to become worthless by delaying action.

  7. How small is too small?
    While the typical size of a claim varies based upon each industry, our firm routinely handles claims between $15,000 to $500,000. Nevertheless we still accept commercial claims as small as $500.

  8. What if you can’t recover before suit?
    While we are successful in making numerous recoveries without the necessity of a lawsuit, some claims require formal legal action. Before suit is filed, you will receive a written report explaining the results of our initial investigation and our efforts to contact the debtor, the terms of any settlement proposal made by the debtor, and our recommendations. The costs and fees required to initiate a lawsuit will be submitted to you for your review and approval before proceeding with suit. No costs or fees will be incurred without your prior approval.  At that time, you will make the decision of whether you want to proceed with suit.

  9. What is a judgment?
    A judgment is a legal document (a written Order) entered by the Court determining the legal liability of the debtor for the debt. It allows you to proceed with various post-judgment remedies to collect the balance due, including requiring that the debtor furnish complete financial information, garnishment of bank accounts or levying on motor vehicles or other assets.

  10. How will I know when or if you collect any money?
    As a client, you will receive written or email confirmation from your account executive notifying you of all payments received.

Still have questions? Contact us to discuss your claim. We’d be happy to answer any questions that you may have.

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