Collecting business debt is not the most glamorous aspect of owning a business. However, it is a necessary action in the business world, and various tools are available to help in the process. One of them is the writ of execution. However, before a writ of execution can be obtained, a judgment must be awarded to the creditor.
Various other rules surround the practice of using writs to pursue business debts. Having an experienced business debt attorney at the helm is an optimal and efficient way to handle the issue without losing valuable time for your business.
Do you need to collect an important business debt? Contact Weisblatt Law Firm for on-point legal guidance. Learn how our team might use a writ of execution or other appropriate legal tool to recover the debt you are owed. Call (713) 666-1981 for a free phone consultation today.
Dealing With Business Debt Collection
Federal and state law both contemplate debt payment and collection issues and provide powerful tools to creditors seeking to collect. However, federal and state law also protect the debtor from unreasonable debt collection actions. These laws seek to balance the needs of both parties.
If you are seeking to collect a business debt, a good way of going about it is hiring a business debt attorney who will have various tools at their disposal, one of which is the writ of execution. With a writ of execution, your attorney can take concrete steps against the debtor business to get your debt satisfied.
Pursuing a Writ of Execution
A writ of execution is a court-issued writ that directs authorized officials to begin transferring the ownership of certain assets from a debtor to a creditor. Once you hire an attorney to represent you in this matter, they will first seek to obtain a judgment against the debtor. Without a judgment, there can be no writ; a writ of execution authorizes action based on a previously obtained judgment.
Getting a Judgment
Your attorney must follow detailed civil rules of procedure when seeking to obtain a judgment. They must also provide the debtor with notice and take action according to the response.
Based on how the debtor responds, the following types of judgments may be issued:
- Default judgment
- Consent judgment (debtor and creditor come to an agreement)
- Summary judgment, where there is sufficient proof for a judgment without a trial.
It is important to note that the judgment issued is not in and of itself an authorization to seize property. That’s where the writ of execution comes in. Essentially, the judgment and the writ go hand in hand.
Preserving Your Judgment
For many reasons, businesses sometimes do not take immediate action against their judgments. Sometimes they don’t act for strategic reasons. For example, a business with a business debt judgment against a debtor may be waiting to see how the debtor reacts to the judgment before immediately pursuing a writ of execution.
In other instances, especially in moderate or small debts, some companies will allow the judgment to sit for months or even years. Regardless of the reasons, all business owners with judgments should be aware that judgments go dormant after ten years unless your attorney obtains the writ or is in the process of doing so.
Pursuing and Executing a Writ of Execution for a Business Debt
If a debtor fails to pay voluntarily, court can issue a writ of execution. Once issued, your business debt attorney can then present the writ of execution to the appropriate officials for execution. In most cases, the official executing the writ will be a law enforcement officer, such as a:
- Sheriff
- Police officer
- Constable
- Bailiff.
The importance of the writ of execution lies in the authority it confers. The writ of execution gives the local sheriff means to collect debt. Without it, the sheriff or other authority is powerless to act on the matter.
Businesses find peace of mind through the business law services provided by Weisblatt Law Firm.
Meet With a Business Debt Collection Lawyer Today
Debt is necessary in the business world, whether it be between two businesses or between a business and a consumer. However, unpaid business debts owed to you can keep your company from thriving as it should. Fortunately, there are various tools that can help get your money back, such as a writ of execution.
Although pursuing a business debt seems a daunting task (and often is), the aid of an experienced business debt collection lawyer can prove to be fruitful. It also gives you the time to attend to business matters instead of chasing debt.
If you have a business debt to collect and are wondering about writs of execution, reach out to Weisblatt Law Firm for a consultation with a seasoned business debt collection lawyer. Don’t delay. Call (713) 666-1981 today for a free telephone consultation.
Attorney Andrew Weisblatt
Mr. Weisblatt has practiced continuously since becoming licensed in 1992 and has represented businesses ranging in size from one person start-up ventures to multi-national corporations employing hundreds of people in multiple countries. From 2005 through 2009 Mr. Weisblatt was in-house counsel and chief operating officer of a multi-national corporation in the steel products industry. That in-house position provided valuable insight into how businesses work and what they actually need from their lawyers – both in-house and outside counsel. Attorney Bio
