What Does a Creditors Rights Attorney Do?A creditors rights attorney protects the right of creditors to collect debts from individuals or businesses. This attorney can also settle disputes between two or more creditors trying to collect money from the same person. If you are owed any money, a creditors rights attorney can help you decide the best course of action to get your money back.
How Do I Know If I Need a Creditors Rights Attorney?Are you having trouble getting a debtor to pay you back? A creditors rights lawyer can suggest strategies and options you have to get your loan back and can represent you in court if that happens to be the best route. If you're fighting with another creditor to get money back from the debtor, your attorney can facilitate negotiations so that you get back a fair amount of the money. An attorney can clear up any questions or doubts you may have when it comes to collecting a debt.
How Much Does a Creditors Rights Attorney Cost?Many creditors rights attorneys charge an hourly rate. Others charge on a contingency basis, which means that you don't have to pay anything up front and your lawyer will take a percentage if you win your case. Depending on the complexity of the matter and whether you live in a city or a small town, the rate you pay to your attorney will vary. Make sure to establish a billing method and rate up front.
What Should I Expect When Working with a Creditors Rights Attorney?In the end, you should either have your money back from the debtor or have a strategy in place to make sure that it comes back to you. Your case may be settled in or out of court--although by going through the courts, the process will be much longer.
There's a chance that you won't be able to recover your full loan if the debtor truly can't pay, or if they owe money to more than one person. In any case, having a creditors rights attorney to guide you through the process will increase your chances of earning back your money, or as much of it as possible.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.