Muller Law Firm Helps You Find Your Debtor's Assets

BIRMINGHAM, Mich. - Michimich -- Are you struggling to get a debtor to pay?

Do you know how to build a list of their assets?

When your debtor isn't paying, you need to pursue his assets to collect your judgment. After you have a list of his assets, you can proceed with strong collection actions, including garnishment and "execution" (seizure and sale of a defendant's assets). Start building your list by scouring your collections file for information you already have about the debtor, including:
  • Home and business addresses
  • Bank references
  • Information about significant assets, such as real estate, vehicles, and watercraft
  • Place of employment (if the debtor is an individual)
  • Your debtor's customers, or other people or entities who may owe money to the debtor, including: accounts receivable; tenants who may owe rent; insurance companies who may owe money for claims, such as any fire damage or flood losses; state taxing authorities who may owe a tax refund (if permitted in your state; federal tax refunds are off limits); purchasers of your debtor's business who may still owe money on the purchase prior.
Include in your list anything that appears to be a possible source of money. If you can identify enough assets to make you reasonably sure you'll be able to collect the money owed to you, great! If not, consider scheduling a creditor's examination.

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Need More Support? Call a Michigan Debt Collection Law Firm

Do you need help with any of the steps above?

The lawyers at Muller, Muller, Richmond & Harms P.C. can help. Contact an expert Michigan debt collection law firm by calling (248) 645-2440 or submitting a contact form here:

About Muller Firm: Located in Birmingham, Michigan, Muller Firm P.C. is a family practice handling debt collection in Michigan for in-state, out of state, and international judgments against debtors. Their debt collection experts fight for creditor's rights no matter how big or small the amount of debt. Call today for help with your collections!

Mike Muller

Source: Muller, Muller, Richmond Harms, P.C.
Filed Under: Legal

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