The collections and creditors' rights attorneys of Degan, Blanchard & Nash represent commercial and consumer creditors across Louisiana. We provide debt recovery services for businesses of all sizes including banks, financial institutions, equipment leasing companies, building supply companies, debt buyers, credit unions, mortgage companies, landlords and insurance companies.
Degan, Blanchard & Nash’s practice ranges from simple debt collection of uncontested matters to complex debt litigation involving numerous parties. We represent businesses throughout the collection process, from the initial demand to foreclosure on collateral, loan workouts, negotiation, and enforcement of judgments. We evaluate collectability and bankruptcy risks throughout the process.
Degan, Blanchard & Nash’s experienced attorneys reduce money judgments to cash through various writs, including writs of garnishment, writs of replevin and writs of seizure and sale. We use the latest asset-location techniques to find assets to satisfy outstanding debts, and we have developed proven methods to collect debt quickly and cost-effectively.
In the current economic and legal environment, insolvency laws affect virtually every commercial enterprise. With years of experience in maximizing asset recovery in all areas of consumer and commercial debt, our employees are trained in all aspects of the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, and the Servicemembers Civil Relief Act.
The Collections Department of Degan, Blanchard & Nash also counsels businesses on avoiding and minimizing accounts receivable problems. Many businesses fail because of outstanding receivables. Accordingly, the debt collection strategy is critical to the success of a business. Our demand letters often result in payment of the debt. We offer remedies that collection agencies do not: specifically, the power to sue. While a collection agency may threaten to sue a debtor, an attorney may actually file suit. A letter from an attorney commands attention that a collection agency cannot. Additionally, under certain circumstances, attorneys may collect attorney’s fees from the debtor, unlike a collection agency. We will gladly review your company’s credit policies and documents, and your account receivable procedures. We can recommend efficient collection procedures, and provide representation if those procedures fail.
Timing is critical to the recovery of debt. The recovery rate decreases with the passage of time while the costs simultaneously increase. Some debt must be declared uncollectible due to bankruptcy, death, prior liens or judgments. We advise the client immediately to minimize expenses and time.
Degan, Blanchard & Nash typically charges a contingency fee for collection services, plus any applicable court costs. The fee is due only if and when a debt is collected. The fee varies based upon the type and complexity of the matter, as well as the amount in dispute.