Can A Creditor Collect A Secured And Unsecured Debt?

If you're collecting a secured debt, you probably need legal help. You shouldn't try to repossess a car, for instance, unless you fully understand the law in this area. Hiring a reputable and bonded repo company is one option. Another is to hire an attorney and use the courts. Likewise, if you're trying to foreclose on a mortgage, you'll need the expert assistance of an attorney.

You can turn over an unsecured debt to a collection agency, which normally asks for 30 to 50 percent of the collected debt and expenses. But, if you are owed a lot and you believe the debt is collectible, hire an attorney.

Speak to an Experienced Creditors Rights Attorney Today

This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified creditors rights lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local creditors rights attorney to discuss your specific legal situation.

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