There are many circumstances in which a Las Vegas business may find itself in the position of the creditor to a customer who has failed to pay their debts. Ideally, all debtors would promptly submit payment as owed and no legal action would be required. However, it may be necessary for the business to retain the services of a Las Vegas collection lawyer in order to ensure that they receive payment.
Collection lawyers understand the laws concerning debt collection regulations and procedures, and they can devise a legal strategy best suited to recovering the money that you are owed. Debt collection can be a difficult matter for a layperson.
For example, two legal strategies exist that do not require a judgment and yet may be sufficient to resolve the matter. The first is an order of replevin. If the debt concerns property in the possession of the debtor, but to which the creditor holds the title, the property may be returned to the creditor. The second is attachment, in which the property belongs to the debtor, but it is transferred to the creditor. A Las Vegas collection lawyer could determine whether a local case is a candidate for either of these strategies.
Depending on the circumstances, it may be necessary to proceed with either a lien against the debtor’s property or a lawsuit to recover the property. With the judgment of a lien, a judge has decreed that the creditor owns a portion of the debtor’s property in effect. The creditor can use the lien as leverage to collect on the debt, or may even foreclose on the property and sell it to satisfy the debt. In a lawsuit, the creditor sues the debtor to collect the debt, and property belonging to the debtor may be awarded to the creditor by a judge.
If none of the preceding strategies have allowed the business to successfully recover the money owed, it is possible that the creditor may need to pursue an involuntary bankruptcy proceeding against the debtor. In such a case, a Las Vegas collection lawyer would be responsible for filing the proceeding with the court. The lawyer could also discover whether the debtor is receiving payment from another entity, such as wages or child or spousal support, which may be eligible for transfer to the creditor to satisfy part of the debt.
Is your business owed money? A Las Vegas collection lawyer can help you recover payment from a debtor, possibly even without going to court. Contact a Las Vegas collection lawyers Hayes & Welsh to discuss your circumstances and get the assistance you need.
