If you loan money to another individual or entity you have every right to expect the debt to be repaid in complete accordance with the agreement established between creditor and debtor. If the debtor reneges on his side of the bargain and you, as the creditor, cannot get payment, a Las Vegas creditor lawyer may be able to help.
What can a creditor’s rights lawyer do?
Every individual and every business have rights when they advance money as a loan or they advance merchandise against a promise to pay in the future. A creditor’s rights lawyer protects the rights of these individuals and businesses.
In many cases the first attempt to collect do not involve the courts, the creditor demands payment directly to the debtor. If this remedy fails, and it often does, the creditor will discount the debt and transfer it to a collection agency. This is the approach most often taken when the debt is unsecured.
A secured debt is something else again; in this case the debtor has given via contract, the creditor the right to the property. In the event of default, the creditor can take possession of the pledged property in lieu of the monies owed.
It is easy to turn an unsecured debt over to a collection agency; this is not the case if the property is secured. The creditor must fulfill certain obligations first, in the majority of cases the filing of the necessary documents is left to the creditors Las Vegas creditor lawyer.
Sue to collect the debt:
The creditor can sue the debtor in court, upon a successful conclusion to the suit; the creditor is given an enforceable judgment which entitles him or her to claim enough of the debtor’s assets to settle the amount owing.
As a creditor, if you have difficulties collecting that which is owed to you there are numerous approaches that can be taken. It is always a good idea to hire a seasoned Las Vegas creditor lawyer who can advise on the best approach based on the specifics of your situation.
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