No business can thrive when deprived of the financial resources it needs. Unfortunately, that is precisely what can happen when one or more parties involved in a transaction fails to live up to their contractual obligations. If your company has been unable to collect a debt and your daily operations are suffering as a result, it is critically important to take decisive action today before the problem grows even larger tomorrow.
At The Jayson Law Group LLC, our New Jersey business debt collection attorneys have years of practical experience handling a wide variety of commercial collection cases, and are able to act as both mediators and litigators where appropriate. We balance aggressive creditor advocacy with strict debtor protection compliance, so that our clients can confidently and effectively pursue the debts they are owed, without having to worry about violating any laws in the process. Our knowledgeable legal team will simultaneously protect you from exposing yourself to liability while working strategically to recover what you are rightfully owed.
Don’t allow your business’ bottom line to suffer any longer. To arrange for a private legal consultation with an experienced commercial collections attorney, call The Jayson Law Group LLC at (908) 258-0621 today.
Keeping Your Business Compliant with Debtor Protection Laws
When your business is continually deprived of the remuneration earned for goods or services which have already been rendered, it can become extremely aggravating, frustrating, and stressful. While these feelings are understandable, it is very important to keep strong emotions out of the equation, so that you do not resort to any actions or behaviors which are prohibited by the Fair Debt Collection Practices Act, or FDCPA. The FDCPA is a federal act which outlines what is and isn’t permissible conduct for creditors when interacting with debtors, and is bolstered by the New Jersey Fair Debt Collection Practices Act at the state level.
If you violate state or federal debtor protection laws, you expose yourself to the possibility of a lawsuit — and in turn, financial liability. You should also bear in mind that while these formal, court-ordered penalties are devastating enough on their own, the informal consequence of a tarnished reputation can be even more damaging in the long run. If your business is sued for abusive debt collection practices, the repercussions could continue to haunt your company well into the future.
As a result, thorough and consistent compliance with all debtor protection laws is key to keeping your business free of costly legal issues — even when the temptation to resort to drastic measures is strong. In the end, the most positive results will come from addressing the matter with a calm attitude, as well as the guidance and support of a knowledgeable business lawyer.
Should You Choose Mediation or Litigation?
There is no one-size-fits-all approach to unresolved debt collection matters. Depending on the nature of the relationship between the parties involved, how large the delinquent debt is, how long the problem has been going on, and how willing each party is to work toward a solution with good faith and transparency, you may find that either litigation or mediation is a more appropriate legal strategy.
In litigation, opposing parties present their arguments to a judge with the assistance of an attorney. After evidence is presented, the judge will arrive at a verdict and give an order about what must be done going forward. While litigation can be highly effective or even necessary in cases where a party has proven completely resistant to voluntary change, this method also has its drawbacks. It can be a costly and time-consuming process, and can also create bitter personal feelings which damage your professional relationships.
In some instances, mediation may be the more appropriate route toward making a financial recovery. In mediation, a qualified, neutral mediator guides a discussion between the parties involved, and instead of a judge making an order, the parties create their own plan to resolve the matter. Therefore, if the delinquent debt is not the result of deliberate wrongdoing, and the parties are willing to cooperate with each other, mediation may be able to solve the issue without the more extreme measure of litigation becoming necessary.
Whether you represent a sole proprietorship, corporation, partnership, or limited liability company, our dedicated legal team can help you get your business’ financial affairs back on track. To schedule a confidential case evaluation with a New Jersey business debt collection lawyer, call The Jayson Law Group LLC at (908) 258-0621, or contact our law offices online today.
