What
is your success rate?
Our
most frequent question is
"Will you be able to
collect my money?"
Everyone wants a lawyer who
can say "YES". We
believe that if anyone can
collect, we can. Because our
business is collection, we
collect more money, more often
than most other lawyers. Our
success rate depends on many
factors and even before we
investigate and attempt your
case, we can get a good idea
of collection prospects.
Certain cases, for example,
are highly collectable.
High
probability of collection
success is often indicated by:
-
A
very recent debt; and/or
Lavish
life style of an
individual debtor; and/or
Operating
businesses; and/or Excellent
credit history; and/or
Occupational
or professional licenses
of debtors; and/or Generally
stable history; and/or
Supportive
family; and/or Strong
financial statement or
substantial asset
ownership; and/or History
of reliance on obtaining
credit; and/or
-
Debts
under $75,000.
A
lower probability of
collection occurs in cases
that are:
-
Very
old; and/or Against
corporations that are out
of business; and/or
Against
outright thieves, such as
those in jail or who are
being chased by law
enforcement; and/or
Against
those who have, or will
be, filing for bankruptcy
protection; and/or Against
those people whose
lifestyle tends to
indicate no assets now or
in the future, such as
alcoholics, drug abusers,
chronic gamblers, those
chronically on welfare,
the terminally ill; and/or
Huge
debts; and/or
-
Large
IRS tax liens.
How
soon can you collect for me?
Some cases are collected
within the first 30 days and
others are never collected. In
general, most successful
collections become apparent
soon after the lawsuit is
served, and generally we know
if the collection will be
easy, even if contested,
within the first 120 days. While
it is sometimes possible for
debtors to delay in court for
months or even years, most
collection cases are easy to
win and harder to collect than
regular court cases. That
means, even in a contested
case, we can provide you with
a good projection quickly.
When
will you begin?
We
generally begin your case
almost immediately upon
receipt of your file and
instructions to proceed based
on our retainer agreement.
Typically, the debtor first
hears from us when served with
the lawsuit documents. We
typically do not make phone
calls, send written demand
letters, or otherwise waste
time with non- court related
action unless required by law
to do so. Any such action only
comes after the lawsuit is
well underway and the debtor's
time is ticking, not yours.
When
we receive your file, we set
up a formal collection file,
begin investigation into the
location and identification of
the debtor, check history and
do a preliminary asset
investigation. Legal action is
generally commenced within the
first few days.
Will
you compromise my claim?
Only you can approve a
compromise! We will do our
best to recover all of your
money, and we won't compromise
your claim without your
consent. If we receive any
written offer, we will
communicate it to you for your
decision. If we receive any
legitimate oral offer, we will
also communicate it to you for
your decision. Ultimately,
settlement or compromise will
be your decision.
Do
you take payments?
We
always demand full immediate
payment. Very frequently, the
threat of litigation or the
filing of proceedings with the
court motivates the debtor to
pay all of the debt
immediately. In some
circumstances, payments may be
the only way to collect your
money. If it becomes apparent
that a debtor must make
payments, or that we can get
your money faster with
voluntary payments than by
waiting to fight in court, we
will recommend a structure for
the recovery of your money in
such a way that you get it or
we have the immediate right to
seize assets and interrupt
income stream. Remember, it
will be your decision to
accept time payments.
Do
you accept all cases?
If
your case is good, we can
locate the debtor, and there
is good reason to believe we
can recover, we will generally
take your case. We take cases
on both a contingent fee and
hourly fee basis. On
contingent fee, we become your
partner in the debt. You
supply the case and we devote
the time toward attempting
recovery. In an hourly fee
case, we believe in the same
partnership theory. If we
wouldn't pursue your case on a
contingent fee, we are
reluctant to pursue it on an
hourly fee basis. You should
review the topic of "Contingent
fee or Hourly fee"
if you are uncertain of what
fee type your case is best
suited for. Before
we accept a case, we attempt
to make a preliminary
determination that there is a
reasonable probability we
might be able to help you.
Helping you collect your money
also means we collect on our
contingent fee. If we feel
there is no reasonable basis
to believe we can help you
(and consequently there is no
reasonable basis to believe we
can earn a contingent fee) we
thank you for the opportunity
to review your file and you
can pursue some alternate
arrangement.
Will
I ever have to pay more than
the initial cost deposit?
On
contingent fee cases we
request an initial deposit to
cover the initial
out-of-pocket costs of
beginning your action. For
example a new case will
require a filing fee with the
clerk of the court, fees to
the process server, minor
costs for the background
check, the preliminary asset
database check, searches such
as a Secretary of State
search, a real property search
or similar minor costs. You
should review the section
"About
Costs"
for more information on what
the out-of-pocket costs are
and how they can be recovered.
We are pleased
to put our time into your
collection action on a
contingent fee basis as your
partner. We request you show
your confidence in your case
by providing the token funding
for the minor costs and
expenses. A
typical one party case
is handled to judgment within
the initial cost deposit. Any
subsequent costs are similarly
minor. If the case proceeds
all the way to judgment, there
may be costs for recording
liens, obtaining orders for
court appearances, and for the
sheriff to seize a bank
account. If we are required to
seize major assets (such as
cars, land, etc) which may
require higher costs to the
sheriff or others, we will
consult with you first for
approval of any significant
expenditures.
What
personal involvement will I
have?
When we receive a new file, we
conduct our investigation and
file initiation. As part of
that process, we will call and
interview you on the phone for
relevant facts, information,
ideas, and tactics. We try to
develop a feeling for who our
target is and what the best
plan of attack is. We
generally do not require an
initial meeting with our
clients. In most cases, there
is no need to hold a
face-to-face interview. You
are not required to visit our
office or travel. Of course if
you wish to meet us,
face-to-face, you may schedule
a brief appointment after your
case has been accepted and
acted upon to review progress.
How
do you disburse proceeds from
my collection?
All money collected is
deposited to our "clients
trust account". After we
are certain that the debtor's
payment has cleared, the money
is disbursed to you and to us.
We do not receive payment on
contingent fee cases until you
do. That is why we move to
clear funds and disburse
promptly. We usually disburse
all cleared funds weekly.
Rules of
Professional Responsibility
and legal ethics impose rigid
and inflexible rules governing
trust money. It must be held
for the benefit of the client
only and no commingling or
inappropriate use is allowed.
All of your funds are insured
and held in FDIC designated
beneficiary accounts.
What
if you can't collect for me?
While
we collect on most of our
cases, in the history of our
practice, there have been some
cases where we were unable to
collect. Since collection is
our business, cases are our
inventory. We don't want stale
inventory or non-current
inventory. If we are unable to
collect, your case will be
returned to you promptly. If
your case is returned to you,
you can take it to any other
lawyer you select and we will
relinquish any contingent fee
interest. If we don't feel we
can collect, we don't want to
keep the case and continue
devoting time toward it
without optimism. Our
only exceptions to the waiver
of contingent fees if you
request your case back after
giving us a chance to attempt
collection, are (as stated in
our retainer
agreements)
when we are still actively
pursuing a case and collection
prospects are good or when a
client directs us to
discontinue for their own
benefit, such as when the
client has made a direct
settlement and tries to avoid
payment of our earned fee.
Who
will answer my routine
questions?
Your
case is immediately assigned
to one of our Legal Assistants
who will be available to you
anytime you choose to call.
You can discuss intake,
tactics and strategy,
collection prospects,
settlement status and similar
important matters. You may
request status information
from the assigned legal
assistant at any time and you
will usually get a regular
status report which will
include a follow-up date. We
invite you to call us to
discuss your case whenever you
want. You are the client and
we are here to help you. |