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How a Bankruptcy Lawyer Can Help Your Company

Posted on July 27th, 2021

Bankruptcy Lawyer

Bankruptcy lawyers are an essential part of big screen cop shows, but they aren’t very prevalent in everyday business life. In fact, most people never need the help of a collection attorney; however, if your company runs into a problem and finds itself facing a lawsuit or you need to sue someone, their field specialization can save the day. Here are five ways a bankruptcy lawyer can help your business.

1. Letters

Extensive debts can break a business, so don’t let your company fall into that trap. Turn to a collection attorney that will actively pursue those that owe you money. The firm can send out intention letters notifying the debtor of the money owed and warn the individual of an impending suit.

2. Reviews

Legal documents can be difficult to read and even more confusing to understand. Your attorney can review those documents for you and explain the legalese, so you can understand how the document will affect your business in the future.

3. Demands

Collection letters are more authoritative when they come from a lawyer’s office. That means the individuals you are requesting something from will be more likely to pay attention to the demand letter. The attorney can also negotiate for you. As your representative, they can also establish a repayment plan with the debtor during bankruptcy proceedings to alleviate the debt reduction and follow through on liens and garnishments if needed.

4. Advice

Keeping your business financially solid is critical during even the most stressful times. That is why consulting with an experienced business attorney can help you with your legal problems when debts begin to overwhelm your business. Whether you owe the money or your customers are in debt to you, a collection law firm can offer advice on working through the situation.

5. Consultations

Most collection lawyers can assist your business when you have questions about tax issues, intellectual property, securities, lawsuits, and debt. Although each matter is a separate topic, your attorney can help you or refer you to someone that can answer your questions.

Whether you are dealing with a zombie debt or an impending lawsuit, a collection attorney can help you receive the money you are owed. Turn those distasteful interactions with delinquent debts over to an expert. 

If you have questions, contact your bankruptcy or collection law firm like The Law Offices of Ronald I. Chorches today. They can negotiate, send demand letters, and represent you in court.

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