Now that you have taken your debtor to the court and received the judgement in your favour it does not mean that all is done and the court will collect the debt in your favour and the debtor will pay. You as a creditor need to consider certain factors before pursuing the judgement.
Some of the key factors to be considered before deciding whether to pursue a judgement or not are as follows:
The costs involved in the procedure: attorney fees, court costs and for certain matters additional services from investigators, consultants or experts and other third parties. The court costs and attorney fees are big factors to be considered as these costs are quite variable and depends from case to case. Also, to pursue a claim you have to attend court at a number of instances, which needs to be considered to figure out the time availability and the cost attached to it.
Another key factor is the limitation time within which the lawsuit is to be pursued.
If there is any counterclaim, potential expense for defending the claim. Once you have a judgement after spending time, it will be futile for you not to pursue a counterclaim because it will leave the work half done.
The financial solvency of the debtor and the likelihood of successful collection is a critical factor to consider before pursuing the judgement.
National Asset Management offers highly qualified services of business debts collection and credit recovery services. Our purpose is to recover owed money, with specialist teams of Debt Collectors
Some of the key factors to be considered before deciding whether to pursue a judgement or not are as follows:
The costs involved in the procedure: attorney fees, court costs and for certain matters additional services from investigators, consultants or experts and other third parties. The court costs and attorney fees are big factors to be considered as these costs are quite variable and depends from case to case. Also, to pursue a claim you have to attend court at a number of instances, which needs to be considered to figure out the time availability and the cost attached to it.
Another key factor is the limitation time within which the lawsuit is to be pursued.
If there is any counterclaim, potential expense for defending the claim. Once you have a judgement after spending time, it will be futile for you not to pursue a counterclaim because it will leave the work half done.
The financial solvency of the debtor and the likelihood of successful collection is a critical factor to consider before pursuing the judgement.
National Asset Management offers highly qualified services of business debts collection and credit recovery services. Our purpose is to recover owed money, with specialist teams of Debt Collectors
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