Once a Collection Goes 'Legal'

Business Credit - Vol. 110 Nbr. 7, July 2008

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Vol. 110 Nbr. 7, July 2008 | Next

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Summary:

The part two of a series on legal placement and litigation process for a typical collection claim for goods sold and delivered is presented. Many collection or credit managers spend a great deal of time preventing collection problems, whether in the granting process or the in-house collection phase. The more experienced managers have systems and relationships setup so their team knows exactly when an account gets placed and how that happens. Choosing a lawyer is an art and a science. Most experienced agency personnel have relationships with creditors' rights lawyers in most major metropolitan areas. Lawyers who concentrate in collections make their availability known to agencies in many ways. They purchase listings in law lists, attend industry trade group meetings and obtain their board certification and specialization in creditors rights.

Headnotes:

Extract:

Once a Collection Goes 'Legal'

A Short Series for Creditors

Many collection or credit managers spend a great deal of time preventing collection problems, whether in the granting process or the in-house collection phase. More exp...



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Vol. 110 Nbr. 7, July 2008 | Next