Helping Business Owners Pursue Past Due Payments

The success of your business largely depends on your ability to turn a profit, which is difficult to do when you have unpaid debts piling up. Suppose you’re unsure how to pursue money that rightfully belongs to your business. In that case, it’s time to hire experienced Vancouver debt collection lawyers who can use solid legal strategies to ensure you get paid.

At Lam Legal Trial Lawyers, we understand how stressful it is to know you’re owed money but lack the time and resources to pursue it. Fortunately, our team has the debt collection skills to turn a complicated and unpleasant process into an effective way of dealing with unpaid debt. If you’re ready to seek legal advice, contact our Vancouver law office today.

Do You Know Your Legal Rights and Limitations When Collecting Debt in British Columbia?

When you’ve been dealing with unpaid invoices for several months, it’s tempting to try everything possible to get the attention of the people who owe you money. However, you could end up in legal trouble if your debtors complain that you call too often or use threatening language to collect debts.

You must adhere to the rules in the Business Practices and Consumer Protection Act. If you break these, your debtors could initiate a lawsuit against your business, putting you further in debt. This regulation is why you should let debt collection law firms handle your debt claims.

Experienced lawyers know the strict limits of the debt collection process, as well as your rights as a business owner looking to recover debts. So, if you want help with debt collection enforcement, contact a lawyer. Keep in mind that you only have up to two years to pursue a debt in British Columbia, so call today for advice on creditors’ remedies, debt collection strategies, and more options.

What’s the First Step of Collecting Unpaid Debts with a Lawyer’s Help?

If you hire a lawyer for assistance with the legal process of collecting debts, you might wonder what the initial step is. In most cases, it involves sending a demand letter to ensure the debtor knows they owe money you aim to recover.

Once you tell your legal representative the details about the debt owed to you, they will write the demand letter, ensuring it explains the total amount the debtor owes, including penalties and interest. The letter will include a deadline and a warning that legal action will be taken if the debt isn’t paid by then.

What occurs after the payment deadline passes is up to you and your legal team, as you can strategize your legal options based on the circumstances. Luckily, you can choose from several creditors’ remedies to recover payment on promissory notes, personal guarantees, and other unpaid debts. Contact our British Columbia law firm for legal assistance from skilled debt collectors.

What Debt Collection Strategies Are Right for You?

In most cases, the goal is to settle out of court so you can get paid as soon as possible. A skilled lawyer can assist by writing a demand letter and negotiating payment terms with the debtor once they respond.

If the debtor doesn’t respond or refuses to pay, your lawyer can take the next step: filing a lawsuit and handling all litigation. If you win the case and get a judgment in your favor, the debtor must pay what they owe. However, this doesn’t guarantee you’ll get your money, as some debtors choose to ignore the judgment against them.

If this occurs, an experienced law firm can use the following tactics for judgment enforcement:

• Wage garnishment
• Property lien
• Bank levy
• Property foreclosure

If you want to know how skilled lawyers can assist with litigation, judgment enforcement, and creditors’ remedies as needed, contact our Vancouver law office for low-cost legal advice on debt claims.

How Can Vancouver Debt Collection Lawyers Assist You?

Our team has spent years helping small businesses, credit unions, private lenders, and other companies with debt recovery. So, if you’re thinking about how to collect unpaid debts on your own and are worried about going to small claims court or choosing the most suitable judgment enforcement options, contact our British Columbia law office for help.

We know how to choose the creditors’ remedies with the highest rate of legal accuracy, which is especially important for clients on a low or modest income. If you’re looking for free legal advice on whether you should pursue debt collection, contact us at 604-800-0774 for an initial consultation with our trusted team.