Debt collection is one of the most common types of legal action taken. When services, materials, or products have been provided but not paid for, it is time for a debt collection attorney to step in. A debt collection attorney is a lawyer that specializes in these matters regarding unpaid accounts. They are often employed by major creditors, such as credit card companies, to collect unpaid debts from customers, but can also be employed by debtors. Specifically, with medical debt, collection attorneys work with hospitals/physicians to collect on unpaid medical bills.
Collection efforts carried on by attorneys afford them to strategies and resources that collection agencies cannot use, most importantly filing lawsuits. Once there is a judgment, Lawyers can then pursue all available remedies, such as garnishment, attachments, liens, or other remedies. Lawyers can lay out the pros and cons of each course of action in a given account. As a result, clients have the information they need to make educated decisions about their financial recovery.
We will have a file on each patient while giving updates periodically on the status of the debt and where we are in the process of retrieving said debt. As a physician creditor, an attorney can help you put a plan in place to gain back the money you loaned out. Should you go to court, the timeframe and the amount you get will depend on the judge’s ruling. If you’re able to settle outside of court, you and the debtor will be able to negotiate terms.
What are the client’s benefits of getting our service?
Physicians benefit in several ways by choosing collection attorneys. Through employing legal services, they can summon an individual or company before the Court to answer questions about income and assets, freeze bank accounts, garnish wages, obtain Court orders to turn over a physical property for sale toward satisfying the debt, enter payment plans with the debtor, obtain warrants for the arrest of people who ignore Court proceedings, among many more. Physicians get legal advice throughout the whole legal process and can choose their preferred course of action after understanding all their options. Hiring a debt collection agency, regardless of how large or good they are, could mean that you will pay more and wait longer for any real action.
Debt collection attorneys work differently. They will typically charge a contingency fee that can only be collected upon payment of the debt. This means you only have to pay the lawyer for their services in the event that they get money from the borrower. In addition, lawyers are more likely to get a higher payment amount from the borrower due to their aggressive collection efforts as compared to a debt collection agency. By hiring the debt collection attorney, yourself, you’re basically taking the middle guy out of the equation. As a result, you will not only save time but often any extra charges that you may have to pay by hiring a collection agency. Lastly, law firms’ conduct is not only subject to the Federal Consumer Debt Protection Act (FCDPA), but also the Illinois Rules of Professional of Conduct. We understand that your reputation in the community matters. We promote a positive image on behalf of our clients. It is important for us to show sensitivity to circumstances that go with medical debts.
Who is our client? For whom is our service benefiting?
Our clients base are physicians who have patients who can’t pay and/or lawyers who are responsible for payment to the physician and haven’t tendered payment. Additionally, there are different types of healthcare providers including home health care company, durable medical equipment company, the imaging facility that does your mammograms, X-rays, and magnetic resonance imaging (MRI) scans, outpatient surgery clinic, or urgent care center or walk-in clinic in your neighborhood shopping center, and more The service we are providing keeps close control on your accounts receivables. Our Firm can pursue the collection of your health care receivables while maintaining HIPAA compliance. We understand that your reputation in the community matters.