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How Debt Collection Attorneys Help Businesses Protect Assets

Collin County debt collection attorneys.

Whether protecting debtors from abusive companies or helping creditors recover funds, debt collection attorneys provide a valuable service to businesses. As an established McKinney law firm, we routinely offer custom collections litigation services tailored to each client’s needs. Here are some of the ways debt collection attorneys help businesses protect their assets.

How Attorneys Help Business Dealing With Debt Collectors

Businesses accumulate debt for many reasons, including large capital purchases, borrowing to cover clients’ defaults, strategic expansion and so on. If a subsequent issue with a debt collector arises, your attorney can develop a long-term strategy to get you back on track.

Create a Defense Against a Claim

An attorney can examine the legitimacy of the debt, examining the original contract terms and related factors. While some examples of debt are straightforward, others require knowledge of business finance law. If the creditor’s claim is without merit, your attorney will challenge the debt collection agency.

Resolve Abusive Collection Practices

The Fair Debt Collection Practices Act (FDCPA) is a federal law that prohibits the use of abusive, unfair or deceptive practices by debt collectors. If your business is facing harassment, out-of-hours calls or threats, an attorney will intervene and take action against the appropriate parties.

Represent the Business in a Lawsuit

In some cases, creditors may take a debtor to court. This process is often lengthy and requires a legal team with an understanding of financial law. A litigation attorney can represent you in court, mounting a robust defense against unwarranted requests.

Negotiate With Creditors

Negotiation is a key part of the legal process, with most cases getting resolved outside of the courtroom. By working closely with debt collection attorneys, you can secure favorable terms from the creditors. Positive outcomes could include extended payment plans or reduced settlements.

Ensure Creditors Are Compliant With Texas and Federal Laws

Debt collectors must abide by Texas state and federal laws when contacting businesses. If there are any violations of the legal regulations, your attorney can take the appropriate action. Fast action in such cases is important to protect the business’ reputation and credit rating.

Advise on Asset Protection and Business Structure

Dealing with debt is a challenging process for a business. However, with the help of a debt collection attorney, you can make important changes and prevent future issues. For example, it may be possible to restructure the debt, negotiate new terms, identify exemptions and protect essential business assets. Your attorney will guide you through the options and help you structure the business for long-term resilience.

Debt Collection Law Firm Serving Collin County

Lucé Law, PC is an experienced North Texas law firm providing debt collection services for business clients. If you would like to discuss a business law issue, contact our McKinney office today. Call (972) 632-1300 or request a free legal consultation now.

Legal Practice Areas

Joe Lucé represents individuals dealing with the repercussions of personal injuries, auto accidents, slip and fall injuries and wrongful death.
Personal Injury

Personal Injury

Our experience dealing with personal injury claims means we know how to get results.

wrongful Death attorney

Wrongful Death

The loss of a loved one is compounded when it’s the result of wrongful death.

Slip and Fall Injuries

Slip and Fall Injuries

Slip and fall accidents occur regularly in commercial buildings, workplaces, stores and malls.

Auto Accidents

Auto Accidents

Auto accidents are frequently preventable, with distracted drivers, vehicle malfunctions and other conditions to blame.