4 Situations When You Should Hire a Florida Collections Attorney

when to hire a florida collections attorney

As debts owed to your company start to pile up, you may find it challenging to keep your business afloat. Unless you have big money coming in otherwise, covering payroll, maintaining a solid inventory, and paying for overhead all require repayment of those debts. Trying to locate the debtors and get them to send in their payments often only serves to worsen the problem as you dedicate time and money to collection activities. If that’s your reality, it might be time to have an attorney handle all your collections instead. Not sure if that’s the right move? Here’s a look at the four times when you should hire a Florida collections attorney to step in.

Difficulties Tracking Down Debtors

Before you can even attempt to collect debts owed to your company, you need to determine where to send notices to each debtor. Depending on your collection process, you may need their physical address, email, and phone number at the very least. Unfortunately, when money is involved, people will often go great lengths to conceal their contact information. You may then strike out time and again as you try to find each debtor. Thankfully, you can hire a Florida collection attorney to perform skip tracing services and find debtors fast.

Reduce Time Spend and Hire a Florida Collections Attorney

Debt collection activities often eat up entire days at a time as your team works on finding debtors, writing up collection messages, and sitting on the phone. Your employees may then struggle to get their regular job duties done on time, cutting into your bottom line even more. At that point, you might as well create a dedicated collections department for your company. Fortunately, to avoid all that and save money along the way, you can simply hire a Florida collections attorney to collect your debts.

Minimal Results from Collection Activities

Even the most efficient members of your team likely cannot match the results achieved by collections attorneys. The reason is that debtors simply don’t take basic collection letters seriously. Especially if they don’t have high bank balances or own any tangible property. But when a lawyer sends out a letter, you can believe that it gets their attention fast. No one wants to end up in court, and a letter from an attorney definitely feels like a warning. You can then get results faster than ever before, which will serve to decrease your debt collection expenses across the board.

Inability to Collect? Hire a Florida Collections Attorney

If debtors do not send in the money owed in response to your collection letters, you have no choice but to take them to court to collect the money. At that point, you need to hire a Florida collection attorney anyway to handle the matter for you. So, why not skip that delay in favor of hiring them from the start. That way, they can follow each debtor from first letter to lawsuit without the need for extra correspondence, internal meetings, and your unproductive attempts to contact the debtors.