Retail debts that are debts that are owed by consumers, and are distinguishable from commercial debts in a number of ways-not the least of which are the legal safeguards which can often prevent a debt collector from recouping them in their entirety, or even at all.
These accounts can be problematic for creditors to collect from individual debtors, as there are a number of potential legal pitfalls that a collector needs to be aware of under the Federal Fair Debt Collection Practices Act (“FDCPA”), as well as the Michigan Consumer Protection Act (“MCPA”). These statutes give consumers rights that a debt collector must respect and follow very carefully.
A debt collector who violates these statutes-even if it is not on purpose-can not only get itself sued, but its client(s), as well. That’s why you need to use Pentiuk, Couvreur & Kobiljak, P.C. to assist in the collection of your delinquent accounts, especially in this difficult economic climate.
At PCK Law, we have been collecting retail debts for numerous different kinds of creditors for decades, be they businesses, municipalities, housing associations, non-profit organizations, or individuals. Our attorneys and support staff are thoroughly trained and well-versed in all of the latest debt collection statutes and case law under the FDCPA and the MCPA, and we deal with them extensively on a daily basis.
In our retail debt collection practices, we frequently utilize the following post-judgment (i.e. after the court has ordered that the debtor is liable to pay) debt collection techniques in order to collect as quickly as possible from those who owe our clients money:
• We issue Writs of Garnishment for wages, income tax refunds, bank accounts and other sources of income to the consumer/debtor.
• We obtain Writs of Seizure for property, both personal and real estate. Once we discover what property the debtor has via our extensive asset search resources, we are able to go through the appropriate legal channels of sending a court officer out to their property to seize and later sell such assets. We often find that this act of dispatching a court officer to an individual’s residence is enough to convince a debtor-who otherwise might not respect the fact that a court of law has issued a judgment against him or her- that we are very serious about collecting on our clients’ debts.
• We serve Subpoenas on debtors to appear for Creditor’s Examinations (that take place either in court or our office) and bring with their income tax returns, business records, pay stubs, titles to assets, bank account statements, and any other documentation of their income sources. If the debtor fails to appear, we can obtain an arrest warrant which will compel them to be brought into court by the police. Debtors also find this technique to be quite persuasive!
• We obtain Receivership Orders from the court. A receiver is an individual who “steps into the shoes” of a consumer debtor and/or his business to run his or her affairs. The receiver investigates and collects the assets of the debtor and/or his or her business, converts them into cash, and pays the appropriate funds over to the creditor.
If you have any questions about consumer credit or collection issues, including any of the aforementioned legal collection techniques, please contact us at (734) 407-7193, or e-mail us at [email protected].