Creditors’ rights and collections

One of America’s founders, Benjamin Franklin, observed a truth known to all debtors – that creditors do observe “set dates and times” and will expect to recover their loan funds by the agreed on dates.  Hence, it is important to properly document a debt, whether by contract or open account because that will make it easier to prove liability and obtain a money judgment against the debtor.  Once a money judgment is obtained upon an unsecured debt, there are a variety of collection devices available under law including, e.g., a creditor examination, wage and bank account garnishments, executions or property levies on judgments, judicial liens on property and appointment of a receiver to collect the debtor’s account receivables.

To schedule an appointment to discuss the best way to collect on your outstanding accounts receivable, please call (734) 475-4659. 

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The foregoing is general information only and does not constitute legal advice regarding your specific legal matter nor does it create an attorney-client relationship regarding your matter.