Commercial Collections Attorney For Maryland Property Managers

As a property manager, your job is to maintain the financial health of your property portfolio. When a commercial tenant defaults on lease payments, fails to pay their rent on time or does not pay other fees, it can disrupt your operations and financial planning.

At the Law Office of Neil S. Hyman, LLC, we recognize that the collection process can put you in a challenging situation. Our job is to help you navigate that process both legally and strategically so that you can pursue the money you are owed while setting expectations and maintaining amicable relationships with your tenants.

Navigating Commercial Lease Default Collections

If you are dealing with accelerated lease balances after a tenant defaults, we can help you pursue judgments against commercial tenants by utilizing strategic negotiation tactics to recover full or partial payments. We are well-versed in the rights of commercial landlords, and we use this knowledge to safeguard your interests. Our goal is to help you recover unpaid rent efficiently and minimize vacancies in your commercial space locations.

Comprehensive Commercial Debt Recovery Process

When it comes to commercial collections, we take a structured approach to our work. Our approach to this process typically involves:

An Initial Demand And Negotiation

This typically involves sending a formal letter to the debtor regarding details about the debt, including:

• The amount they owe
• Applicable interests/fees
• The date they owe the money
• The consequences they may face if they do not pay by the due date

We can also outline a willingness to negotiate in the letter if the circumstances are appropriate.

Litigation

If the debtor refuses to cooperate or fails to respond to the letter within an appropriate time frame, we can initiate the process of taking them to court. We typically do that by filing a complaint and summons and then scheduling an initial hearing.

Enforcing A Judgement/Recovery Approach

If a court determines that the debtor’s obligation is valid, we can begin exploring ways to enforce the judgment against the debtor, either through wage garnishment, bank garnishment, liens or other methods. We can help you select an approach based on the unique circumstances you find yourself in.

Our attorney works diligently to explore litigation procedures for commercial collections when necessary, aiming for swift enforcement of judgments. We identify and recover assets to maximize your recovery potential.

Through our experience in handling commercial lease defaults, we understand the importance of striking a balance between aggressive collection tactics and strategic negotiations. We focus on providing you with realistic recovery expectations and a clear timeline for commercial collection actions.

Practical Considerations For Creditors

Deciding to pursue collections involves weighing the cost-benefit analysis of collection efforts. As you consider whether pursuing collections is practical for you, you may want to ask yourself:

• How old is the debt you are looking to collect?
• How much is the debt you are looking to collect?
• What documentation do you have surrounding the debt?
• Does the debtor owe money to other creditors?
• Is the debtor already in bankruptcy or planning to file for bankruptcy?
• Does the debtor have any collateral that matches the value of what they owe?

Asking yourself these questions can help you determine your next move. If you have additional questions about the commercial collections process, call us at 301-664-4848.

Navigating Bankruptcy Proceedings

When debtors file for bankruptcy, it can add another layer of complexity to the collections process. We can protect your creditor rights in bankruptcy proceedings by assisting with proof of claim procedures and distinguishing between secured and unsecured debt considerations. Our goal is to maximize the amount you can recover in bankruptcy situations. That way, you can keep your focus on managing your other properties effectively.

Who Benefits From Our Services?

Our commercial collections services are designed for commercial property owners and managers, as well as small to midsized businesses with outstanding receivables. We also offer support and services to existing business clients who need collections assistance. While this service complements our primary employment law practice, we are committed to keeping our clients satisfied by offering reliable and efficient collections counsel.

Schedule an initial consultation with us today by calling us at 301-664-4848 or visiting our contact page.