Legal Question in Civil Litigation in New Jersey
i need to collect on a large (over 200,000.) personal loan. have a signed prom. note. what kind of legal fees am I looking at to collect in NJ
4 Answers from Attorneys
I would need more info. Call me to discuss. 732/773/2768
It depends on the nature of the debt and whether the attorney is willing to work on a percentage fee. You always have the option of paying for services at the lawyer's hourly rate if that is arranged at the start of work. Collections are frequently done for a percentage of what is collected commonly ranging from 30-50%. I do collection work and could give you a more definited fee proposal if I know more about the debt and the defendant.
See also: http://info.corbettlaw.net/lawguru.htm
Generally speaking, the cost of collection legal work largely depends on whether litigation is involved. Without litigation the cost can range between seversl hundred to a few thousand dollars.
Feel free to contact my office for additional information.
Collection work is either done hourly or on a contingent fee � which varies considerably based on the specifics of each case.