Minnesota Debt Collections
If the usual Minnesota collection process is just not working out for your company, try the services of a Stevens and Ricci commercial debt recovery attorney instead. Our debt collection attorneys can provide a 72% recovery rate compared to the 28% rate that most collection agencies offer. Instead of waiting for months before you see a dime of your money, our network of commercial debt recovery experts show results in 45 days or less on average. Give our collection lawyers in Minneapolis or St Paul, Minnesota a call to start the collection process today.
Minneapolis, MN Collection Attorneys Succeed Where Collection Agencies Fail
If you’ve often wondered why your usual collection agency can’t provide the results that you expect, the answer is simple. They don’t make the most of the critical opportunities that Stevens and Ricci use. Most of the time, they’ll make a few phone calls before giving up. Our debt collection attorneys go the extra mile to physically locate your debtor for direct negotiations. In addition to commercial debt recovery offices located throughout the country, the Stevens and Ricci collection network includes private investigators. There is no place for anyone to hide once we start the business debt recovery process. Even if your collection agent manages to speak directly to the debtor, it may not make much difference. However, a conversation with an actual attorney carries much more weight and usually provides results. Although we always concentrate on pre-litigation services, your debtor knows that it could proceed further. By combining collection and legal functions, Stevens and Ricci has created the most effective business debt collection system possible. Call our St Paul, MN offices today to use our firm for your next collection problem.
Minnesota Laws are Not on Your Side
In Minnesota, you are allowed to charge up to $30 in service fees for a worthless check, but this hardly reimburses you for your time and inconvenience. You can request a civil penalty that might amount to a fee equal to the amount of the check, but that means at least one trip to court. In most cases, it’s just not worth it. If you’d like to pursue criminal charges, a bounced check of any amount is only a misdemeanor. By using the collection attorneys at the firm of Stevens and Ricci, you’ll never have to worry about receiving a bounced check for an overdue debt. We’ll make sure that the funds are collected in a secure manner before passing the payments to your Accounting department.
The Minnesota Debt Collection Attorney Difference
When you hire the Stevens and Ricci firm as your commercial debt recovery team, it won’t take long to see the difference. If you’ve been using a regular collection agency, you may have become used to the long time needed to see results and the high number of your accounts that have been marked as uncollectible. This will quickly change once you’re using our collection attorneys. Instead of giving up after a few unreturned calls, our business collection attorneys will use their legal knowledge and court authority to force your debtor to appear for questioning. In this legal process, they will be required to disclose their entire financial history and current situation. While your collection agent doesn’t want to deal with your debtor’s lawyer, we welcome this situation. The next few sections further illustrate how our St. Paul collection attorneys can make a difference.
Consent Judgments in Minneapolis, Minnesota
It’s common for a debtor to agree to a short-term payment plan when they can’t pay in full. When this happens, the Stevens and Ricci business collection attorney can frequently strengthen the agreement by adding a consent judgment. Without the need to pay any additional fees or go to court, the creditor can enter for immediate judgment if the debtor misses a single payment. Because the debtor’s banking information is already known, and the consent judgment allows the creditor to seize the account for the total amount due, this is often the best way to guarantee payment. In fact, our creditors are often in a better position with a consent judgment than a secured creditor.
St Paul, MN Forbearance Agreements
If you have a long-term relationship with a customer who’s in true financial trouble, you may be interested in a way to help them stay in business. The Stevens and Ricci firm has a way to make this happen. Our collection lawyers can draft a forbearance agreement that will prevent other creditors from filing suit in order to help your customer restructure their debt load. By helping your customer recover from financial difficulties, all parties win. You can avoid going to court and increase your chances of payment while your customer retains their business. In many cases, this compassionate form of debt collection allows both parties to enjoy a profitable relationship going into the future.
Minnesota Case Study
In the current economic client, our clients are seeing more and more extended payment plans instead of full payments. While this can seem like a risky proposition, the Stevens and Ricci firm views this crisis as an opportunity. We will create an aggressively-drafted payment plan that increases our client’s chances of receiving timely payments and adds additional default security.
Our first step is to add a consent judgment clause to the payment agreement. This allows us to convert a potential default into an automatic judgment against the debtor. This eliminates the need for lawsuits, trials, discovery, lost time, and increased expenses while increasing our payment percentage by more than 40%.
The second strategy is to add a personal guaranty clause if one isn’t already on file. In most cases, the debtor will agree in return for extended payment terms. By using a little psychology and offering something of value, we are usually able to succeed with this strategy.
We also factor a 1.5% monthly interest rate into our notes. The debtors rarely try to negotiate a lower rate, and it practically covers our client’s collection fees. At Stevens and Ricci, we do everything possible to not only collect our client’s debt, but to also minimize their collection expenses.
Minnesota Debt Collections
If the usual Minnesota collection process is just not working out for your company, try the services of a Stevens and Ricci commercial debt recovery attorney instead. Our debt collection attorneys can provide a 72% recovery rate compared to the 28% rate that most collection agencies offer. Instead of waiting for months before you see a dime of your money, our network of commercial debt recovery experts show results in 45 days or less on average. Give our collection lawyers in Minneapolis or St Paul, Minnesota a call to start the collection process today.
Minneapolis, MN Collection Attorneys Succeed Where Collection Agencies Fail
If you’ve often wondered why your usual collection agency can’t provide the results that you expect, the answer is simple. They don’t make the most of the critical opportunities that Stevens and Ricci use. Most of the time, they’ll make a few phone calls before giving up. Our debt collection attorneys go the extra mile to physically locate your debtor for direct negotiations. In addition to commercial debt recovery offices located throughout the country, the Stevens and Ricci collection network includes private investigators. There is no place for anyone to hide once we start the business debt recovery process. Even if your collection agent manages to speak directly to the debtor, it may not make much difference. However, a conversation with an actual attorney carries much more weight and usually provides results. Although we always concentrate on pre-litigation services, your debtor knows that it could proceed further. By combining collection and legal functions, Stevens and Ricci has created the most effective business debt collection system possible. Call our St Paul, MN offices today to use our firm for your next collection problem.
Minnesota Laws are Not on Your Side
In Minnesota, you are allowed to charge up to $30 in service fees for a worthless check, but this hardly reimburses you for your time and inconvenience. You can request a civil penalty that might amount to a fee equal to the amount of the check, but that means at least one trip to court. In most cases, it’s just not worth it. If you’d like to pursue criminal charges, a bounced check of any amount is only a misdemeanor. By using the collection attorneys at the firm of Stevens and Ricci, you’ll never have to worry about receiving a bounced check for an overdue debt. We’ll make sure that the funds are collected in a secure manner before passing the payments to your Accounting department.
The Minnesota Debt Collection Attorney Difference
When you hire the Stevens and Ricci firm as your commercial debt recovery team, it won’t take long to see the difference. If you’ve been using a regular collection agency, you may have become used to the long time needed to see results and the high number of your accounts that have been marked as uncollectible. This will quickly change once you’re using our collection attorneys. Instead of giving up after a few unreturned calls, our business collection attorneys will use their legal knowledge and court authority to force your debtor to appear for questioning. In this legal process, they will be required to disclose their entire financial history and current situation. While your collection agent doesn’t want to deal with your debtor’s lawyer, we welcome this situation. The next few sections further illustrate how our St. Paul collection attorneys can make a difference.
Consent Judgments in Minneapolis, Minnesota
It’s common for a debtor to agree to a short-term payment plan when they can’t pay in full. When this happens, the Stevens and Ricci business collection attorney can frequently strengthen the agreement by adding a consent judgment. Without the need to pay any additional fees or go to court, the creditor can enter for immediate judgment if the debtor misses a single payment. Because the debtor’s banking information is already known, and the consent judgment allows the creditor to seize the account for the total amount due, this is often the best way to guarantee payment. In fact, our creditors are often in a better position with a consent judgment than a secured creditor.
St Paul, MN Forbearance Agreements
If you have a long-term relationship with a customer who’s in true financial trouble, you may be interested in a way to help them stay in business. The Stevens and Ricci firm has a way to make this happen. Our collection lawyers can draft a forbearance agreement that will prevent other creditors from filing suit in order to help your customer restructure their debt load. By helping your customer recover from financial difficulties, all parties win. You can avoid going to court and increase your chances of payment while your customer retains their business. In many cases, this compassionate form of debt collection allows both parties to enjoy a profitable relationship going into the future.
Minnesota Case Study
In the current economic client, our clients are seeing more and more extended payment plans instead of full payments. While this can seem like a risky proposition, the Stevens and Ricci firm views this crisis as an opportunity. We will create an aggressively-drafted payment plan that increases our client’s chances of receiving timely payments and adds additional default security.
Our first step is to add a consent judgment clause to the payment agreement. This allows us to convert a potential default into an automatic judgment against the debtor. This eliminates the need for lawsuits, trials, discovery, lost time, and increased expenses while increasing our payment percentage by more than 40%.
The second strategy is to add a personal guaranty clause if one isn’t already on file. In most cases, the debtor will agree in return for extended payment terms. By using a little psychology and offering something of value, we are usually able to succeed with this strategy.
We also factor a 1.5% monthly interest rate into our notes. The debtors rarely try to negotiate a lower rate, and it practically covers our client’s collection fees. At Stevens and Ricci, we do everything possible to not only collect our client’s debt, but to also minimize their collection expenses.
