Slippery Debtors

Don't be afraid of the debtor that says they are going to file bankruptcy.  That's the only way the debtor can obtain power over you.

Have you ever heard a debtor say they were going to file for bankruptcy? We have all heard that threat.

But how often do people or companies actually file bankruptcy?  Not that often.  About half of the people we are chasing for money say they are either filing bankruptcy, have a bankruptcy lawyer or are thinking about filing bankruptcy.

The reality in our practice is that only about  10 percent of those folks ever follow through.  They know that bankruptcy is really the only leverage they have in the matter and they will use it at every turn to negotiate better terms.

We are not intimidated by the "bankruptcy defense."  Most of the time we still collect the debt, or a significant portion of the debt. 

Why don't they file for bankruptcy?  That's easy.  It is expensive. It's time consuming.  It stays on your credit for what seems like forever and most debtors aren't really in as bad a shape as they let on.  So we hang in there and generally have had good luck obtaining a favorable result.

See, we have a system. And we work that system to collect your past due debt.  The system is designed to get the debtor's attention.  The wheel just gets more squeaky and continues and escalates at each turn until our clients are satisfied.  Check out how we obtain a judgment, and how we collect that judgment.  We don't stop.

The secret is to put the pressure on and to keep it on to collect your debt.  The "system" does just that.  And we have it down to a science.  So we stay with it until the result is obtained or we are convinced that there is no point in staying in the game.  We won't waste your money.  As soon as we spot someone who has nothing and has no chance of paying anything, and therefore should not be chased any further, we will tell you.  We want your business on the next case, too.

Email:  Darrell W. Cook

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