Foreclosure in OhioNovember 20, 2019
Which Business Entity is Right for Me?November 20, 2019
Collections in Ohio
At Walker Novack Legal Group, LLC, we understand that for an Ohio creditor, obtaining timely payment from debtors is of paramount interest. Any efforts expended by the creditor should be geared toward obtaining payment: otherwise, the creditor’s resources and time are being wasted. Sending endless collection letters or phone calls, or allowing an account to continue in a delinquent status without taking other actions, are just a few examples of ineffective collection actions that do little to get the creditor paid. Enlisting the help of a creditor’s rights attorney in Ohio can give frustrated creditors additional options for collecting amounts owed from past due debtors.
Options Available to Ohio Creditors for Getting Paid
When initial efforts at recovering a debt or obligation fail, it may be time for an experienced collection law firm to become involved. Attorneys in Ohio are most familiar with the practices and procedures of the local courts and are generally familiar with Ohio’s statutes. This means they can assist a creditor in availing itself of the court and some powerful collection activities, including:
- Hearings in Aid: A hearing in aid can be a great way for a creditor to learn about a debtor’s income and assets. This can help the creditor and his or her lawyer determine whether further collection activities will be fruitful and productive. Debtors are placed under oath and asked questions concerning their employment, assets, valuable possessions, and other items that may be used to address the debtor’s obligations.
- Wage Garnishments: If a creditor has obtained a judgment against the debtor, but the debtor still refuses to pay, the creditor may be able to obtain a wage garnishment. This is a court order that directs the debtor’s employer to withhold a certain amount of money automatically from every paycheck of the debtor until the obligation is paid back.
- Bank and Investment Account Garnishments: Just like with a debtor’s paycheck, a creditor may also obtain a court order directing a bank or other financial institution holding money belonging to the debtor to turn over a portion of that account’s value to pay the creditor.
- Judgment Liens: Once a judgment has been entered in favor of the creditor, the creditor may seek to obtain a lien against valuable property that the debtor may own. With a lien on such property, any profit or proceeds derived from a sale of the property would be diverted and used to satisfy the debtor’s obligation to the creditor.
Why Retaining an Ohio Creditor’s Rights Lawyer is a Good Idea for You
Each of these and other collection tools available to Ohio creditors have certain limitations and rules that must be followed. Failing to renew a lien after a certain period of time, for example, can result in the lien being released and the property being able to be sold without any of the proceeds going to the creditor.
Call the office of Walker Novack Legal Group, LLC today at (614) 423-8276 to schedule a completely confidential consultation. We can discuss your needs and situation and identify the best methods for you to be able to obtain repayment of your debtors’ outstanding obligations.
Walker Novack Legal Group, LLC
5013 Pine Creek Drive
Westerville, Ohio 43081
P: (614) 423-8276
F: (614) 767-0695