An Attorney's Guide to the Collection of Bad Debts
2nd Edition
by
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Chapter 1
TYPES OF BAD DEBT CASES
Litigation arising out of the collection of bad debts primarily involves actual disputes, but many cases center on the fact that one of the parties is having a money problem. Thus, winning a law suit is meaningless if you cannot collect any of the money which is due and owing.
Normally, when a customer and supplier/lender/borrower/provider have a dispute about quality or amount or price, they will both seek to resolve the dispute in order to continue the relationship.
If the dispute cannot be resolved, then it involves either a serious difference of opinion, or financial difficulties on the part of one of the parties. In our experience, most of the litigated commercial matters involve credit sensitivity.
Many cases which seem like mundane commercial matters revolve around the fact that one of the parties is lacking funds. Most of these cases develop when one of the parties, either the buyer or the seller, is running out of funds. In desperation, they will try to squeeze funds from their own customers, despite the cost of losing or alienating, their existing customers. Similarly, it is like a drowning man who will grab on to anyone, and even pull them into the water, in a last effort to try and save himself. Set forth below are a few of the most common examples indicating that one of the parties is running out of funds.
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About the Book
An Attorney’s Guide to the Collection of Bad Debts is meant to give readers a broad overview of debt collection techniques as well as to inform them of some popular debt collection techniques used by attorneys. The reader should consider this book a type of debt collection techniques catalog.
We authored this second edition so that it can be read easily and quickly during a day’s commute to and from work. This second edition also contains revised copies of sample legal forms used to facilitate the collection of bad debts and contains an updated section on asset protection trusts.
After reading this book, you will become aware of certain collection techniques so that you can have an informed discussion with an attorney about potential options available to you.
This book is not to be considered legal advice and is meant for general information purposes only. This book is not a substitute for the advice of legal counsel.
About the Author
Robert L. Lewis, Esq. is an attorney that has specialized in the collection of bad debts in
Paris Daskalakis, Esq. is an attorney with a broad legal practice, which includes creditors’ rights and commercial litigation. Mr. Daskalakis is the managing member of The Daskalakis Law Firm, L.L.C. and is the co-author of the second edition of this book. The Daskalakis Law Firm, L.L.C. is located at 300 Park Avenue 17th Floor,