Even when a company that is in debt ceases to do business, its creditors can sometimes still pursue the debts owed to them. This is possible, for example, when the corporation disburses the money to its principles (Insiders) prior to closing its doors. Piercing the corporate veil is another method that can be used to hold Insiders liable for the debt sought by creditors.
But these strategies require experience and knowledge that many lawyers simply do not possess. That’s why the law offices of Kristin Lettiere Coomber, P.A. should be your first choice for commercial collections and complex debt collection. Complex debt collection requires a great deal of skill. It isn’t accomplished by merely pursuing an individual debtor with a threatening credit report. On the contrary, it requires knowledge of fraudulent transfer law, successor liability law, and piercing the corporate veil. You’re not up against an individual who has fallen on hard times; you’re facing off against people that are using deliberate tactics to obscure how much money is held by which entities, purely to avoid paying their debts.
Their savvy, however, often ends there. How many Debtors take the funds they’ve retained through these methods and start up an entirely new business, in a new region, unrelated to their prior work? If you guessed “none,” you’d be correct. Insiders are notorious for attempting to start anew in the same industry, often ensuring that their new business can be held liable for the prior debt. The right legal representation can help make that a reality.
We are now able to provide solid commercial collection services for businesses on a modified contingency fee basis. That translates to a small non-contingent advance fee (usually a small percentage of the debt), a cost deposit the amount of which is a function of the size of the debt, and a 30% base contingency rate. There are no hourly fees unless a counterclaim is filed by the debtor, in which case we will bill our time in defense at a reduced hourly rate in addition to the contingency.
Our law offices are here for you, and we’ll be happy to assist you with your commercial collection endeavors.