Debt Collection: What do you need to consider before filing a lawsuit against the debtor?

  • Do you know the current address of the debtor where you can send legal notices?
  • Do you have enough proof to be successful in a lawsuit against the debtor?
  • Can you provide witnesses if needed?
  • Does the debtor have a job or is self-employed?
  • Does the debtor have enough cash or assets to pay the debt?
  • Is the debtor judgment proof?
  • Is the debtor still alive?
  • Is your claim amount large enough that an attorney will file a suit? (typically, the minimum is at least $1000).
  • Is debtor active in business or job
  • If the debtor is willing to settle the debt, you should settle, as debtors have a lot of rights if the case goes to court.
  • Does the court cost include the warrant filing?

 

Marcadis Singer, PA
5104 South Westshore Blvd.,
Tampa, Florida.
Phone: (813) 288-1881

Top 12 Debt Collection Q&A – Tenth in a Series

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