At the Law Offices of Maier & Associates, we have a full staff of collection attorneys and collectors. The focus of our collection effort is to combine the best features of a collection agency with the collection law firm. Our basic procedure in terms of handling claims is to open the claims as they are received and program in a series of letters, one of which is an acknowledgment to the client, the second of which is a demand to the debtor. The demand is followed up by a phone call from one of our collectors to the debtor within five days. Prior to the initial phone call, we also do a little investigation, especially on commercial claims, to determine if the debtor is a corporation or a proprietorship, and if a corporation, who the principal officers are, their home addresses, and whether the corporation is in good standing, etc. We check UCC filings to determine who the major secured creditors, if any, are. If our collectors are unable to reach some sort of an accord with the debtor within several days, our next focus is on viable assets to attach. Obviously, if we can secure the obligation through attachment of assets to the extent allowed by the law, our client is in a much better position in terms of ultimate collection. If the assets to be attached are essential in order for the debtor to maintain its operation, it also provides the impetus for a quick resolution.
If the collectors are unsuccessful, the matter is reviewed to determine the viability of a law suit. If we believe the matter is collectable, we advise you and request an authorization to institute suit. At that time, we will probably also ask for advanced costs, i.e. the out of pocket costs necessary to institute suit, including the court entry fee and service of process by deputy sheriff, etc.
Should you become a client and forward many accounts to our office, we can advance costs and bill you for the costs. This saves time and work for everyone involved.
While the litigation is proceeding, our collectors will continue in their attempt to resolve the matter amicably. We have found that keeping pressure on the debtor in terms of constant communication, to the extent allowed by law, provides the best impetus for successfully resolving a collection matter. Likewise, when we get a debtor on a payment schedule, our collectors are on top of it to make sure the schedule is maintained and payments are forthcoming in a timely matter.
We have fully integrated computerized collection in our office with tickler files, letter sending capability, etc., which means that all accounts are usually diaried in such a manner that they come up on both the collector and attorney's calendar for review.
As to our fee structure, we handle collection matters on a contingent fee basis, with all accounts at 33.3%. The costs the client is billed for are out of pocket costs relating to court expenses and/or asset investigation, i.e. the cost municipalities or the state charge to send information concerning property ownership, assets, etc.
In terms of our in-house collection effort, we have collectors working until 8:00 pm most evenings; if we cannot reach a debtor during the day, we attempt to reach them in the evening.
We have posted an on-line transmittal form on our web site. If you fill in the "creditor information" section once, you need only supply the specific "debtor information" for each account transmitted. Along with the account we appreciate either the invoices supporting the balance outstanding or a statement of account, credit application, if you have one, personal guaranties if you have them, and any information you have concerning the debtor's business, bank accounts, etc. The more information you can provide us with, the less time we will spend investigating, and the more time we can spend trying to collect!
If you have any further questions, or if you would like to come up and visit our office, please do not hesitate to give me a call. You may also submit your questions via our web site Feedback page.
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