Legal Question in Credit and Debt Law in Illinois
Company won't pay past due debts
A company in Texas owes me 38,000 spanning about six months time. What are my options? Should I try to work out a payment schedule? Should I try to find out if other companies are not being paid by them? When do I start legal action?
Thanks.
2 Answers from Attorneys
Re: Company won't pay past due debts
The first step is to demand the money from the company. In these situations a demand letter from an attorney can prod the company into action. I have done this for many clients in the past, and sometimes this is all that is needed to force the company to pay.
If that does not work, then you can talk about bringing legal action. However, this can be costly and a drawn out process.
I would be willing to write a letter on your behalf to the company. Please call (847) 223-4410 if you wish to discuss this further.
Very truly yours,
Thaddeus J. hunt, Esq.
Re: Company won't pay past due debts
The first thing you must do is write a letter and demand payment. This can be done for a reasonable price by an attorney and can often save huge hassle down the line. Give a deadline (often 30 days is reasonable)and if you receive no response, you will have to file suit. If the company is willing to work out a payment plan, it is a decent option, if reasonable. Because even if you file suit, the company may still be allowed a payment plan by a judge if their financial situation warrants it.