The Answers You Need. Creditors' Rights FAQ.

1. Do I need to work with a creditors' rights attorney before I lend money?

The short answer is no. You can certainly do this yourself, however having a creditors' rights attorney draft and review your lending documents can ensure that should the debtor default the collection collection process will go as smoothly as possible.

2. Do I need to work with a creditors' rights attorney to collect a debt owed me?

No. You may attempt to resolve your issue or collect what is owed on your own. However, this takes time and energy away from you running your business. When you work with a seasoned creditors' rights attorney you will be given options and strategy that you may not have considered on your own. Usually the process is expedited by enlisting the aid of an attorney.

2. Are all creditors' rights attorneys the same?

Again, no. Each attorney has his or her own set of skills, network and experience. While there are attorneys whose single focus is collections, your business may benefit from working with an attorney who not only understands the collection and negotiation process but also has proven business acumen. An attorney who understands both accounting and business can be an additional asset. These additional insights can work to minimize your risk and loss while supporting your business's long-term financial goals and values.

3. How can an attorney help if there are other creditors fighting for collection?

An experienced commercial collections and creditors' rights lawyer can facilitate negotiations in order for you to maximize your collection. He or she can ensure that your interests are aggressively pursued to the extent the law provides.

4. How do creditors' right attorneys charge?

Every attorney is different. At Swan Law Firm I charge an hourly rate, however I do handle selected cases on a contigency fee basis. This rate can vary based on the complexity of your specific case. I offer an initial consultation so that we can discuss your situation and how I can help without it costing you anything.

5. In which ways can a creditors' rights attorney help?

Your creditors' rights attorney can:

  • File lawsuits and employ other legal collection techniques to collect commercial debts
  • Represent your interest in a bankruptcy proceeding
  • Pursue foreclosure of commercial real estate if the purchaser defaults on payments
  • Negotiate leases and payback plans
  • Strategize on your behalf to recover debts ( including rents or lease money) owed

6. Do all cases go to court?

Not necessarily. Many times an amenable agreement can be facilitated by your attorney. However, there are cases where court is unavoidable. In these instances an experienced creditors' rights attorney can ensure that your business is protected and your interests are robustly represented.

Contact Attorney Mark Swan

From consultation and negotiation to litigation, I provide experienced legal services for all of your commercial banking, finance and collection law concerns. Email me today for more information about how I can help you, or call 801-736-7222.