Law Offices of Joseph A. Molinaro, LLC

New Jersey Collection Firm 

Why Use Our Firm?

Provides communication through the entire collection or litigation process

Offers very competitive rates for our debt collection services

Maintains the highest ethical standards in the collection of debt

Has over 20 years experience working with New Jersey businesses

Keeps a staff of very qualified professionals to help reduce cost and increase efficiency

Works with attorneys across the U.S. and worldwide to collect outstanding receivables 


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How can I minimize my outstanding bad debt accounts receivable and maximize collection before contacting debt recovery professionals?


Clients frequently ask: How do I minimize my outstanding accounts receivable and maximize collections before placing the matter with a debt recovery professional? Here are a few suggestions:

Establish a written credit policy with your customers.  

Implement a policy and use it for every account, all the time.  

Know your customers.  

Do you know if your client is a corporation, Limited Liability Company or simply a sole proprietor using a trading name? It is not uncommon for corporations to use trading names instead of their corporate names. It is important to clearly establish who is responsible for the obligation especially when litigation and forced collection becomes necessary.  If you do not properly identify your customer, it may cause difficulty in collecting a judgment later on.  

Minimize your expenses and maximize your potential recovery. Clients should assume that even their best customers can or will fall upon hard times. It happens every day in business. You must recognize and plan for these contingencies.  

Here are a few simple suggestions:

1. Credit Application/Agreement. Have your clients complete and sign a credit agreement which includes:

Provisions for interest on late payments;

Securing an agreement for the payment of attorney's fees and costs of collection;

A personal guarantee for all credit extended, when appropriate.  

At a minimum, all of the items listed above should be contained within your credit application. If not, you should have it reviewed by an attorney knowledgeable in this field.

1. Using forbearance agreements and security agreements when appropriate.

Often Security Agreements can be utilized to create a lien on the equipment or merchandise sold to protect you in the event of a default. If an account is already delinquent, forbearance and security agreements can be structured to re-establish credit with your customers to help them continue to pay you by staying in business as well as provide for a liquidation schedule for payment of that debt. By convincing a client in default to execute these types of agreements can help minimize the "manufactured" defenses which often arise when litigation is unavoidable.

2. Document and maintain a file on each client. It is not uncommon for customers to send letters inadvertently admitting liability on an account. This is perhaps one of the best ways to forestall the "manufactured" defenses which desperate people create when facing a civil summons for damages. Accordingly each statement sent to your customers and each document or letter exchanged should be maintained in your client file. Fortunately with technology as it exists today, this can be done with little cost and effort.  Any agreements or discussions had with clients on the telephone concerning a particular subject should be documented with a confirming letter or email and/or memo to the file when appropriate.

3. Always remember: "The squeaky wheel gets the grease." If a customer falls behind, press them for an explanation. If you can't get a straight answer with a commitment to address the delinquency, you should consider moving forward with legal action. Moving forward promptly can help maximize your prospects for recovery, especially when your customer first begins to struggle meet their obligations. Irrespective of the nature of your relationship, a customer who avoids communication is most assuredly attempting to avoid his obligation to you. Don't fall victim to the customer who continually promises and consistently fails to fulfill his obligations.


How much will it cost hiring an attorney to collect?


The filing fees vary based upon the amount of the claim. Generally speaking, matters for less than $15,000 require a cost of $175. Matters that exceed $15,00.00 require an outlay of costs of $500.00. Fees are negotiable.  Most clients retain me on a contingent basis but I am also available to work hourly or a combination of the two.


How long have you been representing clients collecting debt in New Jersey?


I've been practicing law since 1994. Before becoming a lawyer focusing on debt recovery and litigation, I worked as a collection representative for Sears Roebuck & Co. collecting consumer accounts.


Are legal fees and costs recoverable when a lawsuit is filed?


Yes, if you have a contract on credit application which provides for reimbursement of those fees and costs if litigation becomes necessary.


Do I need to go to court?


Rarely. You only need to appear in court if the claim is contested. Most claims are not contested. Accordingly most matters proceed without a court appearance.


What can I do to help recover money after an account goes to legal collections?


Keep good copies of debtors checks, letters, and email communications. This information can help forestall a defense or otherwise provide asset information.


Call now and speak to an attorney about your debt collection matters!
Phone 201.857.3075

648 Wyckoff Avenue, Wyckoff, New Jersey 07481 - Office 201.857.3075 -  Fax 201.857.3074  Email

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