Debt Collection – Settlement Agreements

The Martin Law Firm is a Pennsylvania debt collection law firm that represents business creditors across the country for PA commercial debt collection matters. At The Martin Law Firm, we realize that debt collections can be vital for our business clients. Our experienced PA debt collection attorneys take swift, aggressive action against debtors located throughout Pennsylvania using results-focused debt collection strategies.

How Our PA Debt Collection Attorneys Can Help You

There are several advantages to utilizing the services of professional debt collection attorneys to recover outstanding commercial debts based in Pennsylvania. Our experienced collections attorneys can initiate a lawsuit in the PA county where the debtor is located, forcing the debtor to pay the debt, face a money judgment, or negotiate a debt collection settlement agreement.

Settlement of a PA Debt Collection Matter

A settlement is an agreement reached between a creditor and a debtor whereby the debtor agrees to pay some of all of the debt owed to the creditor. Our PA debt collection attorneys have the skill, resources and experience necessary to effectively negotiate a favorable settlement on behalf of our business creditor clients. Our attorneys can skillfully utilize Pennsylvania law to effectively recover debts while ensuring full protection of the creditor’s rights.

In many situations, our attorneys can successfully reach a debt collection settlement, sparing you much of the time and expense that can be associated with commercial debt collection litigation in the PA courts. Settlement may require a payment in full or a payment arrangement whereby the PA debtor can satisfy the debt over time. A payment plan is often incorporated into a debt collection settlement agreement.

If a settlement cannot be reached for a PA debt collection matter, then the creditor may have to proceed to trial in a Pennsylvania court of law to obtain a judgment. Judgment for a commercial debt collection matter can be reached by verdict or by default. The majority of PA debt collection cases settle before trial.

Debt Collection Settlement Agreements

Debt collection settlement agreements for commercial debt collection matters in Pennsylvania should be carefully drafted by an experienced collections attorney in order to preserve the creditor’s rights and to protect the creditor from further default. A debt collection settlement agreement should always be in writing, prepared by a lawyer and signed by both parties.

Our PA debt collection attorneys will negotiate a remedy within the settlement agreement in case the debtor later decides not to honor the agreement. Our collection attorneys can prepare a Stipulation of Judgment or a Confession of Judgment for the debtor to sign. These approaches help to protect the creditor’s rights by allowing the creditor to obtain an accelerated judgment against the debtor in the event of default.

If necessary, our experienced debt collections attorneys have a tremendous amount of legal tools available to proceed with enforcement of the judgment. Post-judgment collection remedies include asset location, levy of personal property, sheriff sale, and bank account garnishment.

view areas we serve

Schedule a Free PA Debt Collection Case Evaluation

The Martin Law Firm concentrates in the areas of commercial debt collection and enforcement of judgments in Pennsylvania. Our experienced debt collection attorneys keep our clients informed of our plan of action, risks, and fees, and we communicate with our clients every step of the way. If you are faced with a commercial debt collection issue based in Pennsylvania, the collections attorneys at The Martin Law Firm have the skill and expertise necessary to produce successful and efficient results. Call us today at 215-646-3980 or schedule a free PA debt collection case evaluation.