Q: How are you paid for your services?
A: The fees that Powers Taylor charges for handling a commercial debt or judicial collection case depend on many factors, such as the type and amount of the unpaid debt, the status and assets of the alleged debtor, and the complexity of the issues involved. Depending on the individual facts and the specific issues involved in each matter, we may even be able to recover the costs and fees incurred in the debt collection process. The fees that Powers Taylor charges range from hourly billing payable on a monthly basis, flat-fee arrangements based on specific matters, to contingency-fee and hybrid contingency-fee engagements. Depending on the specific fee arrangement, clients may be responsible for payment of incurred court costs and other litigation expenses. When you call to discuss your potential collection case, an attorney at Powers Taylor can discuss which of the various fee structures offered by the firm best fits your specific needs.
Q: Are you a debt recovery company or a debt collection service?
A: No, we are a law firm that provides, among other services, assistance with the judicial recovery of commercial debts and judicial judgments. Our attorneys assist clients with all stages of commercial and judicial debt collection, from initial negotiation with debtors to enforcement of judgments entered against debtors in Texas and other states.
Q: Do you handle collection of consumer debts against individuals?
A: We primarily handle commercial debts and judicial collections for business, contractors, and subcontractors. Powers Taylor does not normally handle debt collection of consumer debts against individual consumers.
Q: Why shouldn’t I just hire a collection service instead of going through an attorney to collect on this debt?
A: Debt collection services have limited ability to recover unpaid debts. Only a licensed attorney in the State of Texas can take advantage of the many judicial processes to obtain recovery for clients in Texas. Further, depending on the individual facts and circumstances of your commercial collection matter, we may even be able to recover the costs and fees incurred in the debt collection process.
Q: What are the potential alternatives to judicial collection of a commercial debt?
A: The commercial collection attorneys at Powers Taylor have experience in many aspects of the commercial collection process, including restructuring debt through structured payment agreements, UCC filings, attachment of assets, and other business solutions. Although judicial process is one of the many avenues to commercial debt collection, it is not always the first step in the debt collection process, and it may not always be the best alternative. The commercial collection attorneys at Powers Taylor advise clients on the best strategy to obtain the maximum recovery on each commercial and judgment collection matter and then aggressively execute that strategy.