Orange County Business Debt Collection Tools
The Wallin Firm has a decade of experience in collecting debts of all types. From our office in Orange County (Irvine), California, our firm represents creditors ranging from large financial institutions (e.g., Bank of America, US Bank) to small family-owned businesses. Whereas most collection firms focus exclusively on the “basic” judgment collection tools (e.g., demand letters, wage garnishments), The Wallin Firm’s practice emphasizes more complex collection methods (e.g., execution sales, charging orders, involuntary bankruptcy). Unlike “collection mills” which attempt to collect a high volume of small debts, we focus on large, difficult-to-collect debts. We give substantial individual attention to each debt. We take the time to learn about the debtor. We strategize to prepare a detailed “collection plan” which maps out each step to be taken and the date by which each step will be complete. Then we move quickly and aggressively. When challenges arise, we have the knowledge and experience to creatively respond to such challenges. Other collection firms will simply return debts to their clients uncollected.
The following is a list of “Collection Tools” that we regularly utilize to collect debts for our clients (click on any link to learn more):
- Attachment: The debtor’s bank accounts, real estate and other assets can be frozen shortly after the filing of a lawsuit, in certain situations.
- Bank Levies: Levies can be served on financial institutions to obtain the funds in a debtor’s bank account.
- Charging Orders: If the debtor owns a corporation or limited liability company, the creditor can seek a charging order to obtain the debtor’s interest in the entity.
- Collecting from Third Parties: Levies can be served on any third party owing money to the debtor, forcing the third party to pay the creditor rather than the debtor.
- Forced Sales of Real Property: The creditor can instruct the sheriff to sell virtually any real property owned by the debtor.
- Fraudulent Transfer: If the debtor has transferred assets in an attempt to thwart collection efforts, the creditor can move aggressively to seek to unwind the fraudulent transaction.
- Judgment Debtor Examinations: The creditor can examine the debtor or any knowledgeable person, under penalty of perjury, to broadly explore the nature and location of the debtor’s assets.
- Out-Of-State Judgments: Even if the creditor’s judgment was entered in another state, the judgment can quickly be converted into a California judgment allowing the creditor to collect from the debtor’s assets within California.
- Personal Property Levies: If the debtor owns valuable personal property (e.g, vehicles, equipment, jewelry), personal property levies can be executed to obtain such items from the debtor.
- Real Property Liens: Real property liens can immediately be recorded to create liens against the debtor’s real property within California.
- Wage Garnishment: The debtor’s wages can be garnished, causing up to 25% of the debtor’s net income to be paid to the creditor.