Maitland Commercial Collection Attorney
Starting and maintaining a business almost always requires taking out at least one business loan. And just one month of poor sales can result in default. If your business has outstanding debt, it will not be long before the debt collection companies start hounding you. Whether the collection agency just contacted you for payment recently, or you have been dealing with this stressful situation for weeks or months, now is the time to contact a Maitland commercial collection attorney at The Hornsby Law Group. We can help you seek debt collection relief fast by demanding that their harassment stops, negotiating with the collection agency to reduce your debt, and put this behind you once and for all.
How Collection Works
If a business defaults on their debt, the first thing a bank will do is seek payment directly. Once a borrower has defaulted on their debt payment or payments by 90 to 120 days, however, the bank or other financial institution will either file a lawsuit, transfer or “assign” the debt to another agency, or sell the debt to a debt collection agency. This third party then has the right to seek payment from the borrower, and they usually have unscrupulous methods to do so: harassing phone calls, tracking down the business owner in person, sending large amounts of snail mail, sending repeated texts, emails, or voicemails, calling late at night or early in the morning, making physical threats against the individual owner, etc. Many of these practices are prohibited under the The Fair Debt Collection Practices Act (FDCPA), which unfortunately does not apply in commercial debt collection practices. However, even commercial debt collection agencies have regulations they must follow. As a last resort, the collection agency will usually file a lawsuit, seeking a large amount of compensation.
What a Collection Attorney Can Do For You
The first order of business when it comes to commercial collections defense is to investigate the methods being used by the collection agency to ensure they are not violating the law. In Florida, commercial collection agencies must register with the state, and under the Florida Commercial Collection Practices Act (FCCPA), collection agencies are prohibited from using unlawful and fraudulent commercial collection activities. While the FCCPA does not provide the same type of protection that consumers receive under the FDCPA, it does provide some degree of protection against harassment and unlawful collection practices to businesses and business owners. The next step is to attempt to settle the debt out of court, usually for much less than what the collection company is demanding. If necessary, we will take the case to the courtroom.
Call a Maitland Commercial Collection Attorney Today
If you are being threatened with a lawsuit by a collection agency or threatened/harassed in another way, we can help resolve the situation before it causes any further stress and harm to you or your business. Call the Maitland commercial collection attorneys at The Hornsby Law Group today to schedule a free consultation.