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Texas Law :: Accidents :: Car and Auto Injuries

Debt Collection

Posted on 2007-Sep-19 at 02:58 in Litigation in Texas
If your business has past due accounts, you better not sit on them.  Many of the small business owners come to me for debt collection help when it's already too late.  Often we find out the company that owes them the money has shut down or been sold to another company.  Both present problems.

In the case of a company that has shut down, we need to file suit, obtain a judgment, and then see if the assets were improperly distributed - all of which takes more time and effort (and hence money).

If the business has been sold, we need to see if it was an asset sale or a takeover.  If it was an asset sale, the business could be out of luck as Texas law protects purchasers in good faith (businesses and people that buy without notice of another person's interest).

If you hire us for your accounts receivable collection  needs, we can start with a collection letter giving the debtor a short time to respond.  Then we file suit in an attempt to obtain a judgment on your behalf.  Once the judgment is obtained, we still need to find the assets and convert them to cash.  The longer you wait, the harder this all becomes.

Don't wait until it's too late and you have to write-off the debt.  Contact our Austin law office today.

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