The lengthiest and most involved option in collecting debt owed to you or your business would be to go to trial. This is the common process of moving a lawsuit though the count system in order to resolve the debt collection dispute. This is likely the first action many businesses think of, and consists of a suit being filed against the debtor in an attempt to recover the money that the company is owed. In this scenario, both the debtor and the business hire legal council and move a case thought the courts until it is tried in front of a judge (and possibly a jury). This course of action is more appropriate for bigger debts of those where there is a substaintial dispute as to the debt itself. Litigation may be placed in Superior or the Justice court. Justice court handles matters of disputes totaling less than $10,000, while the Superior court is utilized for larger debts. Many companies will try their own cases within the Justice court, generally with the guidance of legal council. Of all the options for debt collection, litigation will likely generate the highest attorneys’ fees and take up the greatest amount of time.
To decide which method of debt collection is right for you, please contact Pak & Moring for a FREE consultation discuss your situation, and see what options is right for you.
