Guest blog by The Kaplan Group
If a debtor is offering to make payments voluntarily, that is almost always better than going to court. We can usually get our client’s money faster and less expensively through these cooperative efforts than through litigation. But, when a debtor doesn’t offer a viable payment plan, we do not hesitate to recommend litigation and get contingency based lawsuits started for our clients.
Many of our new clients have never dealt with collection litigation previously. They are often surprised at how long it takes to collect via the courts and the uncertainty involved in actually collecting. We have created several resources to help these clients understand the collection litigation process and make better business decisions.
The main three steps in the debt collection litigation process are:
- Deciding if it makes sense to sue
- Filing and winning the lawsuit
- Collecting the judgment once it is granted
We have created the following resources to help clients understand the process:
- Collection Litigation: 5 minute video (& transcript) describing the lawsuit process.
- Judgment Collection: 5 minute video (& transcript) describing the judgment collection process.
- Estimating the Return on Investment (ROI) for collection litigation.
- Infographic: a 1 page flowchart showing if a lawsuit makes sense given the circumstances.